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Since 1 January 2019, Arkansas' state sales tax on unprepared food (groceries) was reduced to 0.125% (penny per $8) from 1.5%. Sales taxes on groceries had previously been reduced to 1.5% from 2% on July 1, 2011, to 2% from 3% on July 1, 2009, and to 3% from 6% on July 1, 2007. Local sales taxes on groceries remained unchanged.
If you’ve sold tickets this year or last, you might be wondering whether you need to report it on your taxes. The 2021 American Rescue Plan changed the reporting threshold for online sales from ...
Find out when you can skip sales tax in your state. A tax-free weekend is a period of time when tax is temporarily lowered or eliminated. Find out when you can skip sales tax in your state ...
A tax-free shopping retailer. Tax-free shopping (TFS) is the buying of goods in another country or state and obtaining a refund of the sales tax which has been collected by the retailer on those goods. [1] The sales tax may be variously described as a sales tax, goods and services tax (GST), value added tax (VAT), or consumption tax.
Birmingham's sales tax, which also applies fully to groceries, is 10% and is the highest tax rate of the nation's 100 largest cities. [ 56 ] [ 57 ] Although Jefferson County's bankruptcy filing was the largest government bankruptcy in U.S. history in 2011, Birmingham remains solvent.
For someone just starting out, unless they are buying a 16-unit or bigger, then that first rental isn’t going to provide much cash flow, and if they are lucky, they will [see] $100 per month in ...
This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.
In the United States, a local option sales tax (often abbreviated LOST) is a special-purpose tax implemented and levied at the city or county level. A local option sales tax is often used as a means of raising funds for specific local or area projects, such as improving area streets and roads, or refurbishing a community's downtown area.