Sales Tax Takes Toll on Business'

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Created on Friday, 24 April 2015 18:30

Written by Rob Crupi

VERMONT - Changes could be soon to come to the Vermont Sales Tax. The goal of the adjustment to the tax is to sustain the state’s revenue base. Currently, Vermont’s sales tax sits at 6%, which raises around $230 million dollars for the state’s General Fund, with an additional $123 dollars going to the Education Fund.

Currently, Vermont’s sales tax sits at 6%, which raises around $230 million dollars for the state’s General Fund, with an additional $123 dollars going to the Education Fund.

Chittenden Senator, Tim Ashe, has been worried that the sales tax in Vermont is unstable. Ashe’s reasoning behind his concern is that the state’s economy is not taxed on services provided on sales, despite it is being the most costly operation.

Senate President John Campbell would like to widen the sales tax, which in turn would actually reduce the cost of taxes to residents and consumers.

However, Wes Ward, owner of Wes Ward Auto, is worried that a change to the state sales tax could potentially drive customers away.