A group of professors recently released a study that finds insufficient discussion of the total cost of taxes in public finance textbooks. They find that common textbooks fail to fully include the total cost of taxes...
- Chicago Sun-Times quotes Scott Drenkard on local sales ta...
Chicago Sun-Times quotes Scott Drenkard on local sales taxes
Change for Cook County in 2012
BY LISA DONOVAN
January 1, 2012
The next time you dine out or buy a big screen television in Cook County, you should find a little extra change in your pocket.
That’s because with the dawn of a new year, Cook County’s sales tax fell a quarter cent. In most parts of Chicago, the combined city, county and state sales tax rate falls from 9.75 percent to 9.5 percent on all retail purchases except groceries.
“Basic economics teaches us that if you lower the price of doing something, people will do more of it,” Scott W. Drenkard, an analyst with the independent Washington, D.C.-based Tax Foundation, wrote in an email to the Sun-Times.
“While Cook County may have a ways to go before it is competitive with its neighbors in Wisconsin, this is a step in the right direction.”
- 45 states collect statewide sales taxes.
- 38 states collect local sales taxes.
- The five states with the highest average combined state-local sales tax rates are Tennessee (9.45...
NOTE: Massachusetts approved a sales tax holiday after press time, bringing the total number of states with a holiday this year to 17. ...
Join the Tax Foundation's fight for sound tax policy Go
Tax Policy Blog
The official weblog of the Tax Foundation.
Tax By State
For information on your state, select it from the drop-down menu.
Ask a Tax Expert
Contact information for Tax Foundation policy staff Ask