Lost in Taxation
Candy, snacks, soda, sugar under the microscope as state legislatures try to get budgets back in the black.
In 2010, states will have to account for budget shortfalls that reach $135 billion, according to the National Conference of State Legislatures. With the pool of money generated from property and income taxes dipping, states are getting more creative with their taxation. So creative, in fact, that newly constructed candy taxes in both Maine and Illinois have left many retailers with only one response: “Huh?”