Excise Tax: What It Is and How It Works, With Examples
Excise Tax: What It Is and How It Works, With Examples
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HB 2100 sponsored by Rep. Shaun Scott wants to impose a 5% excise tax for salaries higher than $125,000. Supporters say the payroll tax is to get large and wealthy companies to pay the tax on those salaries. It would generate new revenue for state services and social programs. Supporters advocated for the measure this week in the house finance committee. Opponents say it will drive high paying jobs out of state and businesses that do stay will be forced to raise prices for groceries, products an
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