![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
Rebates - USA - Auto rebates don't help tax bite
In most states, the vehicle's full price is taxed before the rebate goes to the buyer
WASHINGTON,DF,USA -The Washington Post, by Albert B. Crenshaw -Aug 27, 2005: -- The recent explosion of cash-back coupons and rebates on the sale of cars and trucks has done great things for automobile manufacturers, for consumers, and -- largely unnoticed -- for many state tax collectors... Edmunds.com, which tracks the automobile industry, put total cash rebates last year at more than $28 billion nationwide. And lots of states are collecting sales or excise taxes on that amount, even though it is ultimately returned to customers... As a result, state tax collectors benefit two ways -- both from the rise in sales, which of course creates more revenue to be taxed, and from the tax on the higher, pre-rebate sales price...
posted by Unknown @ 1:58 PM
0 Comments:
Post a Comment
<< Home