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On appeal, the state Supreme Court overturned the district court ruling in a 7–2 decision, upholding the constitutionality of the capital gains tax as an excise tax. [15] On January 24, 2024, the US Supreme Court declined to hear an appeal of the state Supreme Court decision.
Excise taxes on tobacco raised $12.4 billion in fiscal year 2020. [2] The tax equals $1.01 per pack of 20 of cigarettes. Federal excise tax revenue from tobacco products peaked in fiscal year 2010 at $17.2 billion after the increase in tobacco product tax rates in the Children's Health Insurance Program Reauthorization Act of 2009. This tax ...
For instance, a state could put a 10% excise tax on tanning salons or charge a flat $5 excise tax on every tanning service. Authorized sports betting has an excise tax of 0.25% of the amount ...
New Mexico - The gross receipts tax rate varies throughout the state from 5.125% to 8.6875% with local option taxes imposed at the city and county levels, added to the statewide base tax rate of 5%. [9] Oregon - Oregon levies a Commercial Activity Tax on businesses with more than $1 million of taxable revenue per year. This tax is equal to $250 ...
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1] [2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct
Bernbaum won election to the Washington House of Representatives in 2024, succeeding Democrat Mike Chapman who ran for the district's State Senate seat. In the August 6 primary election, Bernbaum received 27.6% of the vote (15,743 votes) in a field of five candidates, advancing to the general election alongside Republican Matthew Roberson.
But in 2022, he hit pause on his stock sales when Washington state imposed a new 7% capital gains tax on sales of stocks or bonds of more than $250,000. After moving to Florida, Bezos took his ...
In March 2022, a Douglas County Superior Court judge sided with the plaintiffs ruling that the tax was an income tax [31] and therefore unconstitutional in Washington State. This ruling was overturned by the Washington State Supreme Court in March 2023, which ruled that the tax was an excise tax, rather than an income tax. [24]
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