Tax Guru-Ker$tetter Letter

Friday, April 11, 2003

Tax Trends

I like to stay on top of as many new developments as possible in the world of taxation. Since the PRC is one of the most creative and aggressive in concocting new ways to get money out of people, it's always educational to see what the rulers out there on the Left Coast are up to. If they succeed in generating enough revenues, you can be sure other states will jump on for their share of the loot.

Widening the state sales tax to include services is still being debated; but it isn't sailing through as smoothly as the rulers had hoped. With estimates of $30 billion of potential new tax dollars at stake, don't expect the supporters of this idea to give up very easily.

While there are a few jurisdictions around the country that already have income taxes at the city and county level, the rulers in the PRC are working on making it available to those levels of government in their state. That means that you can soon look forward to preparing four separate income tax returns every year. More work for professional tax preparers.

- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 4/11/2003 12:15:00 AM Send this post: