KABOOM! 💣💣💥💥
Trump just announced that Howard Lutnick will be Commerce Secretary 👀
Do you have any idea how big this is?
Lutnick speaks about eliminating income tax and fund the government solely on tariffs… just like Trump has been hinting at..
I am trying to wrap my head around this possibility. What a burden it has been. Will businesses and corporations have federal taxes? Sales tax and State tax will still occur for some States. There is so much to unravel.
Q, patriot, holistic healer for humans and dogs. Certified in dogs. I'll speak my mind no matter what. Be nice or get lost.
You will only pay sales tax on NEW items such as a new vehicle. A used one you will not. So Sales tax will only be paid once to that item. Tariffs is whats going to keep us afloat. State tax may or may not stay around. Texas doesnt have state tax and I really dont think we will ever either. there may be an increase in that sales tax though. Texas is 8.25%. other states are less but have state tax. I think maybe something like 14% across the board for newly purchased items. Might only be for big purchases and maybe not shampoo or alike. The final decision will come soon. I am ready. Either way it will be good.
The sales tax is state. Very few items have federal tax. No state income tax either or country property tax.
They are two different things. Sales tax and state tax. When i do my taxes..sales tax is filed under federal. State tax we skip because we do not have state tax.
