New York Restores 9 Billion 200 Million Of Fiscal Deficit And Resumption Of Clothing Tax

The New York State Council passed the final part of the annual budget. By increasing taxes on the gambling houses and restoring the clothing tax, it also found a 1 billion yuan income for the state government, which made up a deficit of 9 billion 200 million yuan.

The new budget stipulates that from October 1st this year, all prices of clothing and shoes should be taxed, which is estimated to generate 330 million yuan for the government. The current rule is to levy taxes on clothing and shoes (each or each pair) for more than 110 yuan.

We believe that this may make consumers do not buy clothes in New York. How can the government receive a 330 million yuan tax?

New York also introduced taxes on all clothing many years ago, when consumers went to New Jersey, Boston and other places to buy clothes.

According to the information of the New York municipal government, New York had imposed a 4.375% sales tax on clothing less than 110 yuan, but it was abolished in April 1, 2006. New York's clothing sales tax was 4%, and it was abolished in September 1, 2005. At present, the sum of sales tax and use tax for each piece / pair of clothing and shoes with a price of more than 110 yuan will be 8.875%.