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What's new in state sales and use taxes

TaxConnex

The bill also extends the sunset date of the sales tax exemption for the purchase of high-technology data center equipment to Dec. Illinois requires retailers to notify customers of the suspension of the state 1% rate of sales and use tax on retail sales of groceries, effective July 1 through June 30, 2023.

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Superfund Excise Taxes Reinstated July 1, 2022

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This means the tax rates will be higher and apply to more substances than they did in the past. These new excise taxes are set to expire 8½ years after they kick in ( i.e., on December 31, 2031), and they are expected to generate about $14 billion of revenue. Business Tax Services. poly(propyleneoxy)glycerol.

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Superfund Excise Tax Is Catching Many Companies by Surprise

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The Superfund Excise Tax is established to raise funding for the Hazardous Substance Response Trust Fund which is administered by the Environmental Protection Agency and assists in the clean-up of hazardous waste sites when the owner or operator of the site cannot be identified. billion of revenue. Contact Us. Let’s Chat.

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House Ways and Means Committee Introduces Potential Tax Extender Bill

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For purposes of the Build Back Better Plan, the CBO estimated that the costs associated with the enhanced child tax credit would amount to $207.8 billion in 2031. Without any expansion, the TCJA child tax credit in 2031 was estimated by the CBO to cost $43 billion in 2031, or almost five times less than the expanded child tax credit.

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