Content about Tax

May 22, 2013
Target Q1 profit plunges 29%; lowers full-year outlook

Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.

May 1, 2013
Main Street Fairness Act

Probably the most important bit of news for bricks-and-mortar retailers that broke over the past week is that the Senate voted to move forward with the Marketplace Fairness Act.

April 26, 2013
Online sales tax bill moves forward in Senate

The U.S. Senate voted to move forward with the Marketplace Fairness Act, legislation that would allow states to force retailers to collect online sales taxes, if the states choose to do so.

February 21, 2013
Survey details impact of payroll tax changes on retail

Nearly three-quarters (73.3%) of consumers say their spending plans are taking a hit due to the recent payroll tax changes, according to NRF’s 2013 Tax Returns Survey conducted by BIGinsight.

February 13, 2013
NRF: January retail sales up 0.3%

Retail sales ticked up in January as consumers adjusted their spending in response to the increase in payroll taxes and rise in gasoline and energy prices.

February 12, 2013
Study: Dollar stores may benefit from increased payroll tax

A new Symphony Consulting survey found that the new 2% increase in payroll tax is causing a major shopping behavioral change among lower-income families.

February 7, 2013
Retail sales results mixed in January

Although there were some surprising gains among retailers in January, for the most part results were expectedly mixed, as consumers took a hit on their take-home pay from higher payroll taxes but cooler weather gave a boost to others.

January 14, 2013
Retail industry adopts principles for tax reform

The National Retail Federation board of directors said it has adopted a resolution directing NRF to “strongly encourage” Congress to enact comprehensive tax reform in 2013, and it set out a list of principles aimed at achieving tax policy that would boost the economy and encourage job growth.

December 6, 2012
Dick's Sporting Goods to pay special dividend ahead of fical cliff

Dick’s Sporting goods will pay $2 special dividend before year end in a move to help investors avoid what are presumed to be higher dividend tax rates in 2013 and beyond.

December 3, 2012
Report: Starbucks may reconsider U.K. tax payments

Starbucks Coffee Co. is considering changes to its tax practices in the U.K. in the wake of criticism from lawmakers, tax campaigners and the media, according to Reuters.

August 21, 2012
Top five states with highest combined state and local sales taxes

California and Indiana have the highest statewide sales taxes in the country, but Tennessee and Arizona take top billing when local sales taxes are added to the calculation, according to a new analysis by the Tax Foundation, a Washington, D.C.-based think tank that monitors fiscal policy at the federal, state and local levels.

August 13, 2012
HD: Shop-in-shops: One of the decade's big ideas

The Retail Industry Leaders Association (RILA) has taken issue with an opinion piece that appears in the August 1, 2012, issue of the Wall Street Journal.

August 6, 2012
Walgreens to expand headquarters, add 500 jobs

Walgreens has agreed to create 500 jobs in Illinois over three years and invest $75 million to expand and renovate more than two dozen of its corporate offices, according to the Chicago Tribune.

August 1, 2012
RILA Debunks Op-Ed Piece on Marketplace Fairness Act

The Retail Industry Leaders Association (RILA) has taken issue with an opinion piece that appears in the August 1, 2012, issue of the Wall Street Journal.

June 29, 2012
Online-only retailers begin Texas sales tax collection on July 1

Texas joins eight other states in taking legislative action requiring online-only retailers, notably Amazon.com, to collect sales tax.

May 31, 2012
Amazon to collect sales tax—and build two DCs—in New Jersey

Amazon.com Inc. will begin collecting 7% sales tax from New Jersey residents starting in July 2013. The online giant announced the agreenment on Wednesday at the Statehouse in Trenton, N.J. It also announced it will build two distribution centers in New Jersey.

May 30, 2012
RILA responds to New Jersey sales tax agreement

The Retail Industry Leaders Association (RILA) issued the following statement in response to the announcement that New Jersey Governor Chris Christie has reached an agreement with Amazon.com requiring the online retailer to begin collecting state sales tax on purchases made in New Jersey by July 1, 2013.

May 18, 2012
Casual Male profit falls 45% on higher tax rate

First-quarter net income dropped 45% at Casual Male Retail Group Inc., hurt by a higher tax rate.

April 5, 2012
Pier 1 Q4 profit jumps; three-year growth plan includes store upgrades and tech investments

Pier 1 Imports Inc. said that its fiscal fourth-quarter profit more than doubled on increased store traffic and a one-time tax benefit that boosted its bottom line.

January 31, 2012
ICSC launches website for sales tax fairness

The International Council of Shopping Centers announced the launch of a new website devoted to sales tax fairness and how the current sales tax system is unable to support the 21st Century retail marketplace.

December 1, 2011
Guess Q3 profit dips 4% as tax rate increases

Guess Inc. said Wednesday that profit for the quarter ended Oct. 29 fell 4% as the clothing company's tax rate increased.

November 2, 2011
RILA and business groups urge Congress to close sales tax loophole

The Retail Industry Leaders Association, along with 125 business groups and employers nationwide, on Wednesday asked the Congressional Joint Select Committee on Deficit Reduction to include in their recommendations to the House and Senate a provision that would close the online sales tax loophole that is harming brick-and-mortar retail businesses and the communities they serve.

October 14, 2011
RILA opposed to national sales tax; would stunt consumer spending

With the presidential campaign in full swing and discussion of a new national sales tax as a component to tax reform being discussed, the Retail Industry Leaders Association (RILA) reiterated the strong opposition of the retail community to any sort of national sales tax or Value Added Tax (VAT).

August 8, 2011
Retail Chains Fall Short on Tax Credit & Incentive Opportunities

By Fred Stiftel, president and CEO, Walton Management Services

April 26, 2011
Office Depot reports Q1 loss amid weak sales

Office Depot reported a first quarter loss of $5.4 million, down from a profit of $29.5 million in the prior-year period, amid weaker sales and a higher tax rate.

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