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Tax 'loophole' small potatoes

4:46 PM Fri, Feb 26, 2010 |  
Letter to the Editor    E-mail  |  Suggest a blog topic

Re: "Balancing on a Stool -- Start with these 3 legs to make state budget fit," Tuesday Editorials.

This editorial says, "The state should close the loophole that gives businesses a discount for paying their (sales) taxes early or on time."

In my 28 years in the retail auto parts business, I was forced to keep two sets of books: one for me and one for the state, and, like me, many small businesses don't have elaborate computer systems.

I collected taxes a few dollars at a time, banked the money, sent the state one monthly check, was always subject to an audit, suffered high penalties if I was one day late, and for all my trouble and liability, the state was generous enough to give me $5 for every $1,000 I sent them.

This editorial calls this a loophole. The merchant "discount" should be increased to at least 2 percent.

Ron Cawthon, Duncanville


Comments

Unpaid labor - at the risk of being punished for non-performance used to be known as salvery.

Didn't we fight a war about that??

Oldagg


Do we get a discount for paying our public utilities or property taxes on time?

No.

They give you a discount, an incentive, to pay early or even on time. Another privilege for business owners to keep a little more of their profits.

Not good enough is it?

Never is...


Eric,

You don't have to spend time (money) on a daily or weekly basis to keep track of your property taxes like businesses do for sales taxes.

"Another privilege for business owners to keep a little more of their profits."

Allowing the business to keep more of what they earn is a bad thing?







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