UPDATE: Slight Decrease on Food Tax
Posted: Monday, May 14, 2012 6:27 am
The state is encouraging businesses that sell food to reconfigure their cash registers in the near future to be prepared for the newly reduced tax on food effective July 1st. The bad news, you may not feel the decrease in taxes, it is only being reduced from 5.5% to 5.25%. In other words, a $3.00 loaf of bread will go from $3.16 to $3.15 and then you have to add on the local sales and use tax making the price go up slightly higher. Prepared foods, candy and alcoholic beverages will not see a decrease in taxes.