Tuesday, May 19, 2009

Tax Proposals going Down (if not the Taxes themselves)

Well, the income tax went down, as expected, and so did an 11¢ increase on the sales tax.  On the other hand, the Senate voted down a proposal to freeze the corporate tax rate, which was scheduled to go down via legislation passed last year.  That proposal was also soundly defeated, along with the provisions that would have repealed combined corporate reporting of state income taxes.  Guess we're heading for a sales tax increase before too long.

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