Posted on 10/11/2004 12:36:11 PM PDT by ijcr
Heck, folks, go back only a bit further and there was no Federal income tax! Want to shock a current high school senior? Let them know that fact (that they should know if they are getting their diploma, but likely will not know if they are in a typical public school).
Ha Ha not only have we defeated the state income tax, but we will get the sales tax deduction. Jimmy Nafiah eat this.
One of the HUGE costs for Californians and fuel is not just the tax, but the way the environmental laws have required these special blends for different areas of the state, killing the economy of scale.
So what's your sales tax rate in NY? Mine's 9.25% in TN!!!!
For all of you not old enough to remember. You can take the deduction in one of three ways. We got this deduction years ago.
1. Keep track of all your purchases.
2. Use the chart which gives you an average.
3. Use the chart and add auto and other large purchases.
you will either keep all receipts and itemize, or take a deduction pre-determined by your income, etc., much like how the standard deduction works now
NY is 4.25% + local taxes. I'm in Texas - 8.25% plus some of the highest property taxes in the country. I pay something like 2.85% in property taxes - as a result, I am essentially renting my house from the government.
Well you Texans like everything big! LOL. Are you kidding though? That is ridiculous. Way didn't W repeal some of that crap when he was Gov? Holly Molly. I guess things could be worse here in NY eh? Naaaaa! Do you have a Senator named Clinton? I think NOT!
Isn't TN at 7%, and the other 2.25% county/local?
I guess it depends where you live in Tenn. In my town we pay 9.75%. That extra 1/2% adds up if you have a large family.
I wonder if they are returning to that method.
It all depends on whether or not their sales taxes are that much higher than the states that do have state income taxes.
Were you always entitles to at least the table tax - even if your sales tax paid was actually lower? That is, would someone who saved alot of their income benefit by using the table instead of itemizing the sales taxes paid?
But you don't pay sales tax on food. Everytime we go home we buy as many groceries as possible and we save a lot of money. In Tenn.we pay 9.75% on everything.
New York's STATE tax is 4.25%, but the county and local taxes make the state average combined sales tax = 8.4% Texas average combined sales tax is 7.9% so you must be in an area of high local/county taxes.
According to Sales Tax Clearinghouse, Inc., only Tennessee (9.4%) and Louisiana (8.55%) have higher average combined Sales Tax rates. Of course, there are many ways to play with those averages, but the point is, NY has a huge tax burden, despite the 4.25% State Sales Tax rate.
Well technically we pay 7% state sales tax on everything but food and 6% on non-prepared food (defined in some state table somewhere) and then a local sales tax option up to 2.75%.
Of that there is no doubt - you guys have a ridiculous tax burden - particularly in NYC. I stated that the effective residential property tax rate in NYC is $0.83 - that is true. But the nominal rate is $10+ - it's just that only about 7% of residential property is effectively taxed at the full rate (after exemptions). So you could find yourself paying $10 per $100 while your neighbor pays nothing. Of course, that's a local issue that needs to be dealt with.
The top five states where the tax burden as a percent of income is the highest are: New York (12.9%), Maine (12.3%), Ohio (11.3%). Hawaii (11.3%), Rhode Island (11.1%). The United States average is 10.0%. The District of Columbia is 12.9%.
The five states with the lowest tax burden as a percent of income are: Alaska (6.3%) 50th, New Hampshire (7.5%) 49th, Delaware (8.2%) 48th, Tennessee (8.5%) 47th, and Texas (8.7%) 46th.
See who is in the top five? Yea NY. See the bottom five? Texas. Next question.
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