Sunday, October 31, 2010

House Most Wanted List

So yesterday, a colleague of mine emailed this out. It's a list of new taxes the House Democratic leadership is supposedly rolling out for approval next year. To say that the likelihood of any one of these becoming reality is low would be quite the understatement. But for your own musings, here's the list:

Possible Tax Increases proposed by The House Leadership
Total - Approximately $300 million

Beer excise tax increase - $8 million
Alcohol excise tax increase - $9 million
Soft Drink tax - $20 million
Gaming tax increase of 1% - $27 million
Income tax increase - $150 million
Cell phone tax $1 per phone - $23 million
LLC Charge/fee $25 each - $1.5 million
Fee increases on Banks & Check Cashiers - $20 million
Fees & Licenses increases - $10 million

In addition:

Eliminate 2% Sales Tax discount
Eliminate evaporation allowance for petroleum distributors
Revise distribution of Oil & Gas Severance taxes
Revise the Gaming Road Bond Fund
Special fund Agencies – DEQ $11 million
Wildlife $7 million
Marine Resources $1.3 million
(this is general fund monies to these special fund agencies)

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