Four Years For Prop 30?
Sacramento, CA -- California's sales and use tax rates will go up a quarter percent starting January 1, 2013. Voters approved Prop 30 in the November election which will increase those taxes from 7.25 to 7.50 percent for four years. However, one state official doubts the hike will last just four years.
Board of Equalization member George Runner, a Republican whose district covers Tuolumne County says, "I'm not optimistic of every seeing that roll back. It's kind of a bait and switch now for voters. The voters have voted it in themselves with the idea that it goes away within four years, but in reality with the Democrats holding a two-thirds majority in the state legislature, I would not be surprised if the legislature went ahead and continued it on their own since they have the ability to do so."
The state tax rate will range from 7.50 percent to 10.00 percent depending on additional voter approved city and county taxes.
Click here for details on all the state tax changes.
Written by Tracey Petersen
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