At a Connecticut General Assembly hearing Thursday, state lawmakers clashed on visions of tax policy, with Republicans pressing for sales-tax reduction and Democrats advocating a mix of tax increases and targeted relief.
According to the nonprofit Tax Foundation, 12.8 percent of Connecticut residents’ income goes to government coffers, making the combined state and local tax take the second-highest in the U.S., just behind New York’s 14.1 percent overall burden.
State revenue projections for Florida in May have exceeded expectations, according to a new report from state economists. May’s state income reflected a tenth straight month of revenue exceeding state projections, which economists say is a good sign despite the cost of products and goods going up.
The Florida Legislature’s Office of Economic & Demographic Research announced $3.6 billion in general revenue. The original projections had the state raking in over one-half million dollars less.
Just before midnight Monday, Florida Governor Ron DeSantis signed SB 50 instituting sales tax requirements for online retailers, into law.
The bill requires out-of-state online retailers to collect and report sales taxes on purchases made by Floridians. The tax will bring in an estimated $1 billion in revenue, as well as limit taxes paid by Floridians and Florida businesses.
Tennessee collected more than $3 million in sports wagering revenue in December, according to a report from the Tennessee Education Lottery.
More than $180 million in legal sports wagers were placed in Tennessee during the month – the second full month of legal sports betting in the state.