Content about Tax

March 12, 2014

The National Retail Federation is urging Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes, telling a House committee that lawmakers should level the playing field between local retailers and out-of-state competitors.

WASHINGTON — The National Retail Federation is urging Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes, telling a House committee that lawmakers should level the playing field between local retailers and out-of-state competitors. David French, SVP of the NRF, told the House Judiciary Committee in a letter that legislation is needed to end the sales tax disparity.

October 10, 2013

The Deloitte Consumer Spending Index moved down again in September, showing the second month of small declines. The index tracks consumer cash flow as an indicator of future consumer spending.

NEW YORK — The Deloitte Consumer Spending Index moved down again in September, showing the second month of small declines. The index tracks consumer cash flow as an indicator of future consumer spending.

June 13, 2013

The Wisconsin Economic Development Corp. earmarked $2 million in tax credits for a Walgreens distribution center in DeForest, Wis., according to a report published Wednesday by the Business Journal Serving Greater Milwaukee.

MILWAUKEE — The Wisconsin Economic Development Corp. earmarked $2 million in tax credits for a Walgreens distribution center in DeForest, Wis., according to a report published Wednesday by the Business Journal Serving Greater Milwaukee

Walgreens plans to create 115 jobs as part of a program to employ and train people with disabilities by fall 2013.

June 10, 2013

Amazon is looking to expand its grocery-delivery and locker businesses, according to published reports.

NEW YORK — Amazon is looking to expand its grocery-delivery and locker businesses, according to published reports.

May 7, 2013

The U.S. Senate passed the Marketplace Fairness Act, which would enable states to collect sales tax on online transactions, to widespread applause from big-box retail.

WASHINGTON — The U.S. Senate on Monday passed the Marketplace Fairness Act, which would enable states to collect sales tax on online transactions, to widespread applause from big-box retail. If passed the act would remove the up-to 7% price advantage out-of-state online retailers have over brick-and-click or brick-and-mortar retailers operating and collecting sales taxes within the state. (For a comprehensive list of state sales taxes, click here.) 

February 15, 2013

Sears Holdings, the parent company of mass merchandiser Kmart, is throwing its support behind a bill that would grant states authority to enforce existing sales tax laws and require out-of-state online retailers to collect and remit sales taxes on sales made to their residents.

HOFFMAN ESTATES, Ill. — Sears Holdings, the parent company of mass merchandiser Kmart, is throwing its support behind a bill that would grant states authority to enforce existing sales tax laws and require out-of-state online retailers to collect and remit sales taxes on sales made to their residents.

The Marketplace Fairness Act was sponsored by Sens. Dick Durbin, D-Ill.; Mike Enzi, R-Wyo.; Lamar Alexander, R-Tenn.; and Heidi Heitkamp, D-N.D.; as well as Reps. Steve Womack, R-Ark.; Kristi Noem, R-S.D.; Peter Welch, D-Vt.; and John Conyers, D-Mich.

February 13, 2013

Retail sales were up slightly in January as the increases in payroll taxes and energy prices forced consumers to change spending habits, according to a new report by the National Retail Federation.

WASHINGTON — Retail sales were up slightly in January as the increases in payroll taxes and energy prices forced consumers to change spending habits, according to a new report by the National Retail Federation.

February 12, 2013

A mere 2% increase in the payroll tax could represent $800 in reduced spending power per year for a person with a household income of $40,000, according to a new study by SymphonyIRI.

CHICAGO — A mere 2% increase in the payroll tax could represent $800 in reduced spending power per year for a person with a household income of $40,000, according to a new study by SymphonyIRI.

Symphony Consulting, a division of the Chicago-based market research firm, analyzed shopper behavior since the payroll tax increased on Jan. 1, focusing on the effect of the payroll tax on food and beverage consumption, including its effect on such dimensions as stores shopped, brands purchased and the effect on various segments and categories.

November 26, 2012

Consumer spending could drop by almost $200 billion next year while depressing real consumer-spending growth by 1.7% if middle-class taxes rise in response to the fiscal cliff, according to a report released Monday by a White House economic team.

WASHINGTON — Consumer spending could drop by almost $200 billion next year while depressing real consumer-spending growth by 1.7% if middle-class taxes rise in response to the fiscal cliff, according to a report released Monday by a White House economic team.

October 25, 2012

Beauty company Revlon posted a net loss for the third quarter due to charges as sales rose 2.9%, thanks to higher net sales of Revlon color cosmetics and the inclusion of net sales of Pure Ice.

NEW YORK — Beauty company Revlon posted a net loss for the third quarter due to charges, as sales rose 2.9% thanks to higher net sales of Revlon color cosmetics and the inclusion of net sales of Pure Ice.

Net sales for the quarter totaled $347 million, up $9.8 million, or 2.9%, compared with the year-ago period. Excluding unfavorable foreign currency fluctuations, net sales rose 4.8%.

September 18, 2012

As of Sept. 15, California became the eighth state in which Amazon.com will levy sales taxes on purchases made by residents in that state. Pennsylvania joined that group two weeks prior. Add to that the five states that don’t have any sales taxes, and that’s 13 states where national brick-and-click retailers are competing on a level playing field with the pure-play online retail juggernaut. 


As of Sept. 15, California became the eighth state in which Amazon.com will levy sales taxes on purchases made by residents in that state. Pennsylvania joined that group two weeks prior. Add to that the five states that don’t have any sales taxes, and that’s 13 states where national brick-and-click retailers are competing on a level playing field with the pure-play online retail juggernaut. 


September 17, 2012

As of Saturday, California became the latest state to implement "sales tax fairness," in requiring online-only retailers to begin collecting sales taxes on products sold to California residents.

ARLINGTON, Va. — As of Saturday, California became the latest state to implement "sales tax fairness," in requiring online-only retailers to begin collecting sales taxes on products sold to California residents.

August 30, 2012

Online giant Amazon.com will begin collecting a 6% state sales tax on purchases being shipped to Pennsylvania beginning Sept. 1, according to published reports.

HARRISBURG, Pa. — Online giant Amazon.com will begin collecting a 6% state sales tax on purchases being shipped to Pennsylvania beginning Sept. 1, according to published reports.

The move is being made so that the online retailer will be in compliance with a new Pennsylvania state law going into effect that requires online retailers to collect state taxes if that retailer has a physical presence in the state.

August 30, 2012

As of Sept. 1, some 1.2 million Pennsylvanians will be able to go to bed at night secure in the knowledge that their jobs won't be drowned out by some online juggernaut. And by the middle of September, 3.1 million Californians will be able to breathe that same sigh of relief.

WHAT IT MEANS AND WHY IT'S IMPORTANT — As of Sept. 1, some 1.2 million Pennsylvanians will be able to go to bed at night secure in the knowledge that their jobs won't be drowned out by some online juggernaut. And by the middle of September, 3.1 million Californians will be able to breathe that same sigh of relief. That's how many retail employees there are across those two states.

May 22, 2012

In an effort to focus on its key growth strategies, General Mills has announced a productivity and cost savings plan that will include a reduction in its workforce.

MINNEAPOLIS — In an effort to focus on its key growth strategies, General Mills has announced a productivity and cost savings plan that will include a reduction in its workforce.

February 10, 2012

The Deloitte Consumer Spending Index continued on a downward trend in January, and consumer spending will face additional economic headwinds in 2012, according to Deloitte.

NEW YORK — The Deloitte Consumer Spending Index continued on a downward trend in January, and consumer spending will face additional economic headwinds in 2012, according to Deloitte. The index tracks consumer cash flow as an indicator of future consumer spending.

January 9, 2012

Walmart announced that it is helping customers prepare for tax season by offering low-cost tax preparation services and free in-store federal form 1040EZ filing. The retailer also will provide $3 and $6 check-cashing services.

BENTONVILLE, Ark. — Walmart announced that it is helping customers prepare for tax season by offering low-cost tax preparation services and free in-store federal form 1040EZ filing. The retailer also will provide $3 and $6 check-cashing services.

"We believe Americans shouldn't have to pay exorbitant prices on their everyday financial needs," almart Financial Services VP Daniel Eckert said. "It's their money and we want to make sure they can cash checks, pay bills and transfer money at a low price."

November 11, 2011

Legislation that would level the playing field for brick-and-mortar retailers, including pharmacies, by closing a loophole that puts them at a disadvantage with online retailers has received praise from the National Association of Chain Drug Stores.

ALEXANDRIA, Va. — Legislation that would level the playing field for brick-and-mortar retailers, including pharmacies, by closing a loophole that puts them at a disadvantage with online retailers has received praise from the National Association of Chain Drug Stores.

Sen. Mike Enzi, R-Wy., is the sponsor of the Marketplace Fairness Act and serves as the ranking Republican member of the Committee on Health, Education, Labor and Pensions.

November 2, 2011

The National Association of Chain Drug Stores announced on Wednesday that it has joined other retail industry groups and companies in signing a letter to the Joint Select Committee on Deficit Reduction, also known as the super committee, urging it to close a tax loophole to prevent harm to traditional brick-and-mortar retail businesses — including pharmacies — and to assist states in collecting $23 billion in uncollected state sales taxes that currently are due on Internet and catalog sales.

ALEXANDRIA, Va. — The National Association of Chain Drug Stores announced on Wednesday that it has joined other retail industry groups and companies in signing a letter to the Joint Select Committee on Deficit Reduction, also known as the super committee, urging it to close a tax loophole to prevent harm to traditional brick-and-mortar retail businesses — including pharmacies — and to assist states in collecting $23 billion in uncollected state sales taxes that currently are due on Internet and catalog sales.

July 29, 2011

Lowering the maximum corporate tax rate could allow CVS Caremark to accelerate investments in U.S. jobs, technology and infrastructure — all of which could ultimately help lower healthcare costs and bolster the economy. That was a key message that CVS Caremark president and CEO Larry Merlo had for the Senate Finance Committee during a recent hearing.

WASHINGTON — Lowering the maximum corporate tax rate could allow CVS Caremark to accelerate investments in U.S. jobs, technology and infrastructure — all of which could ultimately help lower healthcare costs and bolster the economy. That was a key message that CVS Caremark president and CEO Larry Merlo had for the Senate Finance Committee during a recent hearing.

July 28, 2011

AARP magazine last week identified the top 10 retirement destinations, which potentially could be growth opportunities for pharmacy, that offer comfortably affordable lifestyles for seniors.

WASHINGTON — AARP magazine last week identified the top 10 retirement destinations, which potentially could be growth opportunities for pharmacy, that offer comfortably affordable lifestyles for seniors.

April 28, 2011

Net income for Safeway dropped due to a tax charge and the retailer's decision to repatriate $1.1 billion from its wholly owned Canadian subsidiary, although the company noted revenue rose nearly 5%.

PLEASANTON, Calif. — Net income for Safeway dropped due to a tax charge and the retailer's decision to repatriate $1.1 billion from its wholly owned Canadian subsidiary, although the company noted revenue rose nearly 5%.

Net income for the first quarter ended March 26 dropped to $25.1 million, or 7 cents per diluted share, compared with $96 million, or 25 cents per diluted share, in first quarter 2010. Excluding the tax charge, Safeway said first-quarter net income was $105.3 million, or 29 cents per diluted share.

March 3, 2011

Fred's on Thursday posted a 2% increase in sales totaling $153.6 million for the four weeks ended Feb. 26. Comparable-store sales for the month rose 0.9% versus an increase of 2% in the same period last year.

MEMPHIS — Fred's on Thursday posted a 2% increase in sales totaling $153.6 million for the four weeks ended Feb. 26. Comparable-store sales for the month rose 0.9% versus an increase of 2% in the same period last year.

November 18, 2010

No matter how you slice it, the flexible spending account changes that are part of...

WHAT IT MEANS AND WHY IT’S IMPORTANT — No matter how you slice it, the flexible spending account changes that are part of the overall Affordable Care Act aren’t doing a whole lot by way of saving healthcare dollars, at least not for patients. Indeed, about the only benefactors are those folks who have to make dollars and cents out of what might become the first casualty of the Obamacare healthcare package — those who have to explain how the administration plans to pay for this package, you know, by not raising taxes.

July 15, 2010

Lobbying by the American Beverage Association has squashed state government plans to put the much-debated...