I received this info a couple of days ago. RI is the 5th highest taxed state in the USA. We're taxed out! Please read below and if you agree contact your state representative or senator and tell them no more additional or increased taxes!
Bill # H-7950 TAXES, TAXES AND MORE TAXES!
March 18, 2008 The House Finance Committee has rescheduled a hearing on anti-business and job development legislation to be heard on Wednesday, March 26, 2008 at approximately 4:30 P.M. in Room 35. The bill includes the following:
* Sales tax on virtually all services, including appliance repairs, landscaping, movie tickets, laundry, temp agencies, club membership, real estate services and so on except physicians and lawyers
* Reduction in sales tax from 7% to 4.5% over a number of years
* 2% gross revenue tax on lawyers and accountants
* Tax on clothing valued over $250
* Tax on the trade-in of motor vehicles
* Reinstate the capital gains tax back to 5%
* Tax non-resident S-Corporation owners at the corporate rate of 9%
* Repeal virtually all business tax credits
* Tax on the press and newspapers
* Impose a cap on historic tax credits with eligibility requirements
* Sales tax on all fuels including home heating oil
* Tax precious metal bullion
* Increase state income tax 2.5% in 2008
* Decrease many other tax credits
* Eliminate the research and development tax credit for employers of 30 or fewer employees
* Eliminate the alternative flat tax after 2008
* Tax on dietary supplements sold on prescriptions
* Institute a sales tax on bus/van/truck rentals
* Eliminate the capital investment in small business credit
* Repeal the Job Development Act
* Repeal the mill building and economic privatization act
* Repeal the exception from sales tax by writers, composers and artists
Increasing taxes are not the way to go to correct a serious budget problem. This legislation will surely stop economic development, job creation, and is just plain BAD LEGISLATION! Taxing services have been an abysmal failure in other states and falls heavily on small business and on those who cannot up and relocate. For your information, it is estimated this bill alone will increase taxes by over $300 million.
Address your letter to The Honorable (Representative's name), c/o Speaker of the House, 323 State House, Providence, RI 02903 and to the Honorable (Senator's name) c/o Senate President's Office, 318 State House, Providence, RI 02903. Also please send a copy of your letter to the address below. For Representative and/or Senator in your district refer to the links below.
http://www.rilin.state.ri.us/hofrep.html
http://www.rilin.state.ri.us/senate.html
