State sales tax to be decreased
Wednesday, November 29th, 2006
By Chris Fitzsimon
BARRY SMITH
FREEDOM RALEIGH BUREAU
Reduction by a quarter of a cent begins Friday
RALEIGH — Richard Peeler says that he’s going to have to figure out how to reprogram his cash registers at New Bern Sporting Goods over the next couple of days.
That’s because the state sales tax will decrease by a quarter-percentage point come Friday. He said he doesn’t know if customers will notice the reduction all that much.
“I don’t think a quarter of a percent makes much difference to anybody,” Peeler said. “I just don’t think the savings is that great per individual for how much people spend.”
The decrease may be no match for the bargains being offered by retailers across North Carolina, hoping to lure shoppers into their stores. But it will mean a $2.50 savings on a $1,000 purchase. Or, put another way, shoppers will save 25 cents on a $100 purchase.
“We are always glad to see the sales tax reduced in some manner,” said Andy Ellen, general counsel for the N.C. Retail Merchants Association. “It makes us more in line with the states around us. It makes us more competitive with Internet and catalog sales.”
When the new rate takes effect, the state tax rate will fall from 4.5 percent to 4.25 percent. (more…)
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