Tag: California State Board Of Equalization

Minimum Wage Increase and Gas Tax Decrease

Big Bear, CA, July 1, 2014 – California workers earning minimum wage should see a bump in their next paycheck. The first minimum wage hike in six years goes into effect today raising the hourly wage from eight to nine dollars. Although this should help most low paid workers, not everyone is happy about the increase. Many small business owners are concerned that this will cut too deeply into their bottom line and cause them to have to pass this increase directly on to their customers. It could be a double edged sword with businesses hiring fewer workers and reducing hours worked. In 2016, the minimum wage is scheduled to increase again, to ten dollars per hour. Also happening today is the reduction of the gasoline excise tax by 3.5 cents. The State Board of Equalization voted in February to reduce the tax to 36 cents per gallon which is the second highest gas tax in the nation after New York. A spokesman for the BOE stated, “This much needed tax relief will arrive as Californians are on the road for summer vacations.” However, the reduction in the excise tax rate doesn’t necessarily mean relief to the wallets of drivers. Gas suppliers, who pay the tax, are not required to pass along the savings to their...

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Statewide Taxable Sales Up In First Quarter 2011

Sacramento, CA, June 15, 2012, noon – In the first quarter of 2011, taxable sales in California rose 9.0 percent from a year earlier, continuing an upward trend that began in the first quarter of 2010, according to Michelle Steel, Vice Chair of the California State Board of Equalization. A preliminary statewide estimate for the first quarter of 2012 projects taxable sales rising 9.3 percent compared to the first quarter of 2011. The projection is subject to revisions and will not be final until this time next year. The Southern California region’s taxable sales grew by 8.7 percent over the first quarter of 2011, slightly behind the State as a whole. As a result of soaring gas prices, which rose 20.0 percent, taxable sales made by gasoline stations increased 22.4 percent.  Taxable sales by vehicle dealers also increased 17.4 percent. Taxable sales from total retail and food services stores rose 8.8 percent, somewhat lower than the increase by total non-retail outlets, which include business equipment and construction materials. Those outlets rose 9.5 percent, consistent with the national trend. The rest of the major retail sectors had taxable sales growth less than the overall average of 9.0 percent.  Increases in these other retail sectors ranged from a low of 2.8 percent for sporting goods to a high of 7.1 percent for non-store retailers. [audio:http://kbhr933.com/wp-content/uploads/SP31554.mp3|titles=Statewide Taxable Sales Up – Mike Evans...

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