For Immediate Release
September 12, 2001
SALES & USE TAX RATES RISE AND FALL
Recently, Arizona, Arkansas, California, Colorado and Wyoming have permanently or temporarily increased or decreased their state sales and use tax rates.
Arizona
Arizona’s transaction privilege (sales) and use tax rate increased
from 5% to 5.6%, effective June 1, 2001. This rate increase is effective
until June 30, 2021. County sales tax rates, which are tied to the
state tax rates, will increase in the same proportion.
Arkansas
In January 2001, Arkansas’ gross receipts (sales) and compensating
use taxes increased 0.5% to 5.125%.
California
On January 1, 2001, the State of California temporarily reduced its state
sales and use tax rate to 5.75%, down from 6%. This decrease is
in effect through December 31, 2001. After December 31, 2001, the
tax will go back to 6% unless a budget surplus triggers a reduction.
Colorado
Colorado’s state sales tax rate has been permanently reduced from
3% to 2.9%. In addition, the total amount of Colorado state and
local sales or use tax that may be imposed by the state, a county, and
a city/town is reduced from 7% to 6.9%.
Wyoming
Wyoming has extended its 1% additional sales and use tax indefinitely.
The sunset date for the additional 1% tax has been repealed. However,
the tax does remain subject to reduction to 0.5% if certain revenue balances
are achieved in any given year.
If you would like additional information or have any questions, please contact J. Lynne Fontana, Regional Vice President - Sales & Use Tax Group at (281) 578-3700. E-mail lfontana@thesaltgroup.com
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