BUSINESS
May 18, 2012 | Margery A. Beck, Associated Press
The Nebraska Supreme Court on Friday rejected a challenge to Omaha's 2.5 percent dining tax on all restaurants within city limits. The appeal came from two Omaha restaurants and restaurant owner Anthony Fucinaro Jr., who sued to stop the tax, saying it amounts to a sales tax that the city does not have the authority to enact without a referendum. Even if found to be an occupation tax, the restaurants argued it violates limitations in the Nebraska Liquor Control Act on the amount of occupation tax for liquor license holders.
BUSINESS
May 18, 2012 | Chris Blank and Wes Duplantier, Associated Press
Lawmakers have given final approval to a measure designed to allow Missouri communities to continue levying taxes on car sales. Missouri residents have long paid sales taxes on vehicle purchases in their home communities during registration. But the state Supreme Court ruled earlier this year that Missouri communities can't levy sales taxes on purchases made in other states. Communities can charge a local use tax— if voters have enacted one. Currently, 39 counties and St. Louis city have a use tax. House members voted 122-21 early Thursday to...
NEWS
May 15, 2012 | Judy Lin, Associated Press
California Gov. Jerry Brown called on state lawmakers to embrace austere cuts and urged voters to approve tax hikes in outlining a revised budget Monday. Brown proposed $8.3 billion in cuts across education, health care and welfare programs in laying out a plan to address the state's $15.7 billion shortfall, an amount equal to 17 percent of the state's discretionary fund. He warned that additional cuts are ahead if voters reject his tax-hike initiative in November. "Cutting alone really doesn't do it," Brown told reporters in...
NEWS
May 13, 2012 | The Associated Press
Austerity has been the main prescription across Europe for dealing with the continent's nearly 3-year-old debt crisis, brought on by too much government spending. But what does it mean for the average European? Imagine paying sales tax of 23 percent or more. Or having your wages cut by 15 percent. Or, if you're in Ireland, both. Austerity comes in many forms: higher taxes, fewer state benefits, more job cuts, working longer until retirement, you name it. Here's a look at some of Europe's austerity pain: GREECE: Greece, one of three eurozone nations...
BUSINESS
May 11, 2012 | Judy Lin, Associated Press
Gov. Jerry Brown made a personal appeal Thursday for California voters to support his tax-hike initiative, saying their support is crucial because the state's finances have been "screwed up" for a decade. The Democratic governor submitted a batch of signature petitions in Sacramento, as the campaign announced it had gathered 1.5 million signatures. The initiative needs about 807,000 valid signatures to qualify. "For more than a decade, the budget has been screwed up, an incredible mess bringing down our credit rating, causing a lot of anxiety and uncertainty,"...
BUSINESS
May 3, 2012
A back-to-school sales tax break on school supplies and low-cost clothes is closer to approval in Colorado. A Senate committee approved the tax break 4-3. The measure faces another committee test, but its chances are excellent in the Senate. Senate President Brandon Shaffer is one of the sponsors. The measure would waive the state's 2.9 percent sales tax on certain school supplies and low-cost clothes and computers. The measure already passed the House and has the backing of retailers.