Sales Tax

High street retailers pay 755% more in rates than online rivals – research

Experts have said traditional retailers now pay 755% more in business rates than digital competitors as a war of words intensifies over a potential new online sales tax.On Friday, the Government closed a consultation into the possible introduction of a tax on ecommerce as a potential measure to fund a reduction in business rates, the property tax facing shops, pubs and restaurants.Bosses at Sainsbury’s urged the Government to launch the new tax as it accused the current business rates system of “destroying high streets up and down the country”.However, retail rival Marks & Spencer said an additional tax on retailers...
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Opinion: GOP lawmakers eye another cowardly tax cut

Michigan is sitting on a $6-billion budget surplus, and Republicans who control the state Legislature know just how they want spend it: on their own re-elections. Of course, that's not how GOP leaders describe their proposal to slash a variety of taxes, including the state income tax, in time for the November election in which all of Michigan's 148 legislative seats will be up for grabs.
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Average price of gas surpasses $6 a gallon for first time in California

The average price of gas in California has surpassed $6 a gallon for the first time ever as fuel costs across the US reach record highs. Drivers in the Golden state are paying more for a gallon of fuel than anywhere else in the country at an average of $6.06, an all-time high for California and the US, according to AAA. The national average is nearly $4.59 a gallon, also a record, increasing 10 cents since Monday. Meanwhile, in some rural regions of California prices are even higher – fuel costs more than $7 a gallon in Mono county in the state’s east.

M&S warns online sales tax will damage High Street

Marks & Spencer has written to the chancellor warning that an online sales tax would damage the High Street. A three-month government consultation on whether to introduce an online sales tax closes on Friday. The Treasury said the proceeds would go towards funding a reduction in business rates for shops.

New stadium is 'Plan A' for Tennessee Titans. Team president Burke Nihill explains why

Tennessee Titans president and CEO Burke Nihill said a new stadium has become “Plan A” for the franchise because it is the most holistic 30- to 60-year solution for Nashville.  On Thursday, following an analysis by AECOM Hunt construction, Nihill presented findings to Metro Sports Authority that further supported the team’s stance that the best value for everyone would be to build a new stadium.  ...

Marks & Spencer asks Chancellor to reject online sales tax – report

Marks and Spencer has reportedly warned the Government that an online sales tax would do more harm than good for the high street.In February, the Government launched a consultation into possibilities for an online sales tax to ease the business rates burden on high street stores.In a letter to Chancellor Rishi Sunak, reportedly seen by the BBC, the chain’s chief financial officer Eoin Tonge said: “Introducing an additional tax on retail, already overburdened, will simply mean retailers cut their cloth accordingly.“This rationalisation will always start with the least profitable parts of a business, which, in the case of multi-channel retailers, will more often than not be high street stores.”He said that would not benefit high street stores, but cause them “damage”.The Treasury has reportedly not yet decided if it will introduce the tax.Chancellor Rishi Sunak promised the consultation at the Budget in October following businesses’ concerns of a potential tax imbalance between in-store retailers and those online.Big name high-street shops had called for an online sales tax because they saw it as unfair that the bills for online-only retailers are far lower.Business rates are paid on all commercial properties and are calculated based on the property value and the rent paid.