One of the provisions under consideration in the tax extenders discussion is a reinstatement of 50 percent bonus expensing for equipment. This would strengthen investment spending and boost the sluggish recovery. It has...
- A Champagne Toast to the Last Tax of 2013
A Champagne Toast to the Last Tax of 2013
Tomorrow night, millions of Americans will celebrate the New Year with close friends, good food, and champagne. People who otherwise never drink sparkling wine will indulge in the experience—often at their wallet’s expense—in order to wish “farewell” to 2013, and to offer a warm welcome to 2014. For many of us, however, our champagne toasts come with some fine print: an additional tax on our effervescent vinos.
According to data from the Wine Institute, Florida comes in with the highest tax rate at $3.50 per gallon. This is a full dollar more than the second place holder, Alaska, at $2.50 per gallon, which is followed by Hawaii ($2.12/gallon) and Oklahoma ($2.08/gallon). On the other end of the spectrum, Wisconsin has the lowest of all the states with a rate of $0.25 per gallon, and is followed by Wyoming ($0.28/gallon). California, Kansas, and New York are close behind in 3rd place with rates of $0.30 per gallon.
Also note, some states have alternative rates for wines in a specific alcohol content range.
All maps and other graphics may be published and reposted with credit to the Tax Foundation.
(Click on the map to enlarge it. View previous maps here.)
Don’t let the additional taxes on the last moments of 2013 spoil your evening, though. Eat, drink (responsibly), be merry, and have a happy New Year!
Buy this blogger a cup of coffee!
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official weblog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.