Tags: Rhode | Island | Sales | Tax

Rhode Island GOP Eyes End of State Sales Tax

Thursday, 27 Dec 2012 12:52 PM

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
Rhode Island Republicans may push a plan to abolish the Ocean State’s 7 percent sales and use tax next year, The Providence Journal reports.

House Minority Leader Brian Newberry, R-North Smithfield, said GOP leaders are researching the proposal, which could give a “big boost’’ to business productivity and sales by removing their burden of administering the tax.

The tax — which excludes state taxes on gas, tobacco and alcohol — is expected to raise $887 million in revenue for Rhode Island in the budget year that ends July 1.
The lost revenue could be made up by a combination of boosting other state taxes and cutting state spending, Newberry told the Journal.

"If I could have a net tax cut that would involve some combination of eliminating the sales tax, cutting state spending but raising the income tax, I'd be willing to look at that," he said.

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Ferguson Officer Darren Wilson to Leave Force

Friday, 28 Nov 2014 08:21 AM

The Missouri police officer who killed an unarmed black teen sparking months of protests in the city of Ferguson will ne . . .

Gunman Killed After Opening Fire on Police Headquarters in Austin

Friday, 28 Nov 2014 08:19 AM

Austin police have fatally shot a man who opened fire at several buildings downtown and may have had explosives.Assistan . . .

States Will Still Hold Strong Sway Against Obama's Amnesty Plan

Friday, 28 Nov 2014 07:50 AM

If Christian Avila lived a few hundred miles to the west, he would have a driver's license, qualify for in-state college . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved