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New York's Broome County to continue 4% tax on apparels
18 Feb '12
1 min read
Broome County, located in the state of New York in the US, would continue to collect its four percent tax on clothing and footwear purchases under US$ 110, County Executive, Debbie Preston, has announced.
Earlier, traders collected a sales tax of eight percent and deposited with the New York state, which used to return four percent to the County.
However, the New York state has announced exemption of the four percent sales tax on clothing and footwear beginning April 1, 2012.
Hence, the County will now have to collect and monitor the 4 percent sales tax on its own.
Ms. Preston said the County's fiscal status and current economic conditions forces the move to extend the four percent sales tax.
Earlier, traders collected a sales tax of eight percent and deposited with the New York state, which used to return four percent to the County.
However, the New York state has announced exemption of the four percent sales tax on clothing and footwear beginning April 1, 2012.
Hence, the County will now have to collect and monitor the 4 percent sales tax on its own.
Ms. Preston said the County's fiscal status and current economic conditions forces the move to extend the four percent sales tax.
Fibre2fashion News Desk - India
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