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raebates said:It's just wrong to choose April 1 as a day to institute a tax increase. That ain't right.
The California Sales Tax Increase is a recent change in the state's sales tax rate, which has been raised from 7.25% to 7.5% as of January 1, 2020. This increase applies to all taxable sales made in the state of California.
The California Sales Tax Increase was implemented in order to generate additional revenue for the state's budget. This increase is expected to raise an estimated $1.8 billion in the first year, which will be used to fund various government programs and services.
The California Sales Tax Increase will result in consumers paying a slightly higher sales tax rate on their purchases. This means that items that were previously taxed at 7.25% will now be taxed at 7.5%. This increase may also lead to higher prices for goods and services, as businesses may pass on the added cost to consumers.
Yes, there are certain items and transactions that are exempt from the California Sales Tax Increase. These include groceries, prescription medication, and sales made to non-profit organizations. For a complete list of exemptions, you can refer to the California Department of Tax and Fee Administration's website.
The California Sales Tax Increase is currently set to last for 7 years, until December 31, 2027. After that, the sales tax rate is scheduled to revert back to 7.25%. However, it is possible for the state government to extend or make the increase permanent in the future.