Tags: Rhode | Island | Sales | Tax

Rhode Island GOP Eyes End of State Sales Tax

Thursday, 27 Dec 2012 12:52 PM

Share:
  Comment  |
   Contact Us  |
  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.

Share:
  Comment  |
   Contact Us  |
  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

Expert: 'Unusual' That Ebola Medical Staff Is Not Quarantined

Thursday, 23 Oct 2014 22:43 PM

Infectious disease expert Dr. Robert Lahita says he is surprised medical personnel who have worked directly with Ebola p . . .

Rep. Charlie Rangel: ISIS Is Not a National Security Threat

Thursday, 23 Oct 2014 22:34 PM

Rep. Charlie Rangel doesn't see a need or a reason for the U.S. to use military force against the Islamic State (ISIS),  . . .

Ex-Gov Turned Cannabis CEO: Pot Legal Across US by 2024

Thursday, 23 Oct 2014 22:25 PM

Former New Mexico Gov. Gary Johnson, who runs a publicly traded marijuana products company called Cannabis Sativa, Inc.  . . .

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