Would I have to pay a tax on this? It was once food, but now is a boat. Hmmmm?
This list of tax exemptions will just baffle your mind. We can’t seem to find it in our hearts to lift the tax on food, but boy, advertising and boats need to be tax exempt. Which is kinda odd, because you can use a boat to get food. Megan ‘Patron’ Luther lays it down (and somehow mysteriously avoids mentioning taxing advertising – I’m sure her fine editors at work);
Joy Smolnisky, director of the South Dakota Budget & Policy Project, a nonprofit fiscal policy organization affiliated with South Dakota Voices for Children, urged the legislators to study sales tax exemptions, also known as a tax expenditure report. The exemptions range from coin-operated laundry to lotto tickets, according to a 2009 Department of Revenue study.
“We don’t know when they were put in place, how they were trended over time and if they continue to meet their initial intent,” she said.
South Dakota is one of only seven states that does not conduct a tax expenditure, Smolnisky said.
Imagine that? A Republican controlled state protecting the rich from from taxes. Get outta here! I guess if we can’t kill the poor, we can at least tax them to death.
[youtube]http://www.youtube.com/watch?v=L8zhNb8ANe8[/youtube]