Category Taxation in USA

First Sugar Tax in US proves Successful

April 21, 2017 Taxation in USA

Sugar taxesWASHINGTON D.C – America’s first tax on soda and other sugary drinks seems to have paid off, with consumers buying fewer sugary drinks, but the level of taxes and revenues not dropping.

On April 18th the results of a new study were published in the medical journal PLOS Medicine, with an evaluation of the outcomes of the first tax on sugar sweetened beverages enacted in the USA.

In March 2015 a “penny per ounce” tax was added to the sale of sugar-sweetened beverages in the USA, a measure which saw an effective cost hike of USD 0.12 per can of drink sold, and a rise of USD 0.68 per two litre bottle sold.

The results of the study suggested that the overall sales of the drinks fell by nearly 10 percent during the course of the past year.

It was also seen that bottled water, and other untaxed...

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Tax Freedom Day Coming Soon

April 19, 2017 Taxation in USA

Tax Freedom DayWASHINGTON D.C. – On April 23rd Americans will have paid enough tax to cover their annual tax obligations.

The Tax Foundation has released its annual Tax Freedom Day report, showing the date that American taxpayers can stop working to pay the government, and can start working to pay themselves.

According to the latest calculations, the Tax Freedom Day in the USA in 2017 will fall on April 23rd, the 113th day of the year.

The total tax bill faced by taxpayers in the USA over the course of this year will be USD 5.1 trillion, which represents 31 percent of the nation’s income, and is made up of USD 3.5 trillion in federal taxes, and USD 1.6 trillion state and local taxes.

The total tax burden is more than the nation will collectively spend on food, clothing, and shelter combined.

It was...

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Seeing Poverty Doesn’t Lead to Sympathy

January 18, 2017 Taxation in USA

Poverty and taxesWASHINGTON D.C. – Seeing poverty does not make people more sympathetic or willing to support taxes on the rich.

A new study published in the journal Proceedings of the National Academy of Sciences of the United States of America has shown that exposure to poverty makes individuals less willing to support taxes on wealthy taxpayers.

The study was based on a set of controlled experiments where participants were asked to sign a petition calling for extra taxes on extremely wealthy individuals.

In the study the environment was controlled to vary the levels of poverty seen at the time that the participants were asked to sign the petition.

It was found that exposure to poverty resulted in a decreased willingness by participants to support increased taxes on the incomes and wealth of well-off ...

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Wireless Taxes Keep Rising in USA

October 13, 2016 Taxation in USA

Taxes on mobile serviceWASHINGTON D.C. – While growing competition between wireless provides in the USA have pushed monthly bills downwards, the tax bill is negating the benefits for consumers.

Earlier this week the US think-tank the Tax Foundation issued a new report on the growth of taxes on wireless communication in the country, showing that the taxes are rising faster than the prices are falling.

According to the finding detailed in the report, approximately 18.6 percent of the typical monthly wireless phone bill faced by a consumer in the USA consists of various taxes and fees.

The current tax burden on wireless services is already 1.5 percentage points higher than it was two years ago, and 4.5 percent higher than a decade ago.

The Tax Foundation showed that since 2008 the average monthly phone bill has...

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Tax Breaks on Horizon for Small Breweries in USA

October 6, 2016 Taxation in USA

Excise taxes on beer in the USAWASHINGTON D.C. – Small breweries in the USA may soon see eased filing and tax requirements, as a new Act receives majority support in Senate.

According to information in a press release issued on September 26th by the US advocacy group the Beer Institute, a majority of Senators in the USA now support an Act to ease the tax burdens faced by small and independent breweries across the country.

The Act proposes to reduce the federal excise tax on beer to USD 3.50 per barrel for the first 60 000 barrels produced by any domestic brewery producing less than 2 million barrels of beer per year.

The reforms would also extend to larger breweries, with the federal excise tax also being lowered to USD 16 per barrel for brewers and importers dealing with up to 6 million barrels per year.
Producer who...

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