President Obama’s fiscal year 2015 budget proposes to increase taxes on individuals by over $820 billion and on businesses by about $500 billion, for a total of over $1.3 trillion in new taxes over the next ten years....
- Memphis Commercial Appeal quotes Scott Drenkard on local sales taxes
Memphis Commercial Appeal quotes Scott Drenkard on local sales taxes
State sales tax rate pushes Memphis, Nashville into Top 10 among U.S. cities
By Richard Locker
April 11, 2012
NASHVILLE -- Memphis and Nashville are tied for 7th among U.S. cities with populations of 200,000 or more with the highest sales tax rates, mainly as a result of the state's 7 percent rate, according to an annual report issued Wednesday by The Tax Foundation.
Alabama, for example, has a state rate of 4 percent but Birmingham and Montgomery have local sales tax rates of 6 percent each.
"Of course, sales taxes are just one part of an overall tax structure and should be considered in context," said Tax Foundation economist Scott Drenkard, who co-authored the report Sales Tax Rates in Mayor U.S. Cities. "For example, Washington State has high sales taxes but no income tax while Oregon has no sales tax but high income taxes.
"Many factors influence business location and investment decisions, but sales taxes are something within policymakers' control that can have immediate impacts," Drenkard said.
Testimony before the Rhode Island Special Joint Legislative Commission to Study the Sales Tax Repeal
November 21, 2013
Nebraska has many strengths: an enviable employment rate, a fiscally responsible state government, good transportation infrastructure, a diverse array of successful businesses, and a deserved...
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