Posted on 03/01/2022 3:10:35 PM PST by Oldeconomybuyer
Here’s a cut & paste explanation from the Washington State Department of Revenue website explaining the B & O tax.
“The state B&O tax is a gross receipts tax. It is measured on the value of products, gross proceeds of sale, or gross income of the business.
Washington, unlike many other states, does not have an income tax. Washington’s B&O tax is calculated on the gross income from activities. This means there are no deductions from the B&O tax for labor, materials, taxes, or other costs of doing business.“
Time was there was such a thing as homestead exemption designed to stop the home owner from being taxed out of their home. Things change I guess.
No sales tax on food in Texas.
FYI, I paid $145K for the house I am in right now in Acton 8 years ago and my Property Tax is $2100, Stupid Voters voting for DEBT
For starters because Iowa like some Midwestern states likes to run a surplus.
And you don’t want your taxes to low. Invites in to many undesirables. Texas needs an income tax to limit the Californication before it is to late
True but the time I was talking about most homesteads would be taxed zero. Of course electric bills then didn't average much more than a couple bucks.
I watched someone bragging about a little shed from the Big Box store costing only $16,000, just a shed with roof nothing inside just bare barn walls. That made me remember the 45 years ago I bought my first home in small town Oklahoma. Three bedroom brick central heat and bath for $15,000 and a VA loan of $109.00 a month. I pay three times that amount today in property tax alone. Then came Jimmuh Carter.
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