SUBSTANTIALLY INCREASE THE AMOUNT YOU RECEIVE FOR COLLECTING SALES TAX

Written on December 17, 2015 at 3:20 pm

2016 SESSION PRIORITY:
 
Presently the amount a business location receives for collecting and remitting Nebraska sales tax is capped at $900 per year ($75 per month). This does not begin to cover the cost of collection businesses incur, especially in the case of credit card sales.  After paying the credit card swipe fee on the sales tax portion, the business actually nets 98 cents or less on each dollar of tax but still remits the entire dollar to the state. Since an ever growing portion of retail sales are credit card transactions, this is especially unfair to Nebraska’s retail industry.  At our request, legislation has been introduced to increase the cap to as much as $3,600 per year per location ($300 per month) which is four times more than the present cap.  The new cap would positively impact businesses on the first $88,000 in monthly taxable sales.  The big obstacle to overcome will be the cost to the state of implementing the cap increase.  We should have the figures on how many millions that cost will be in the first weeks of the session. Success on this issue in the 2016 session will require active support from our membership.
Facebooktwittergoogle_pluslinkedinrssyoutube

Join NRF Now!

The Nebraska Retail Federation is in business to help your business. Our primary mission is to represent your interests to state and federal government official1s.

CLICK HERE for an application

Copyright © Nebraska Retail Federation 2015. All rights reserved
Developed by Lincoln Computer Repair - Schrock Innovations