Content about Tax

March 27, 2014

Favorable tax credits and a 53rd week in fiscal 2012 affected Fred’s net income results for the fourth quarter. Severe weather also contributed some to the company’s net sales decline, as did higher-than-normal utility bills and rising generic drug costs.

March 12, 2014

National Retail Federation SVP David French told the House Judiciary Committee in a letter this week that legislation is needed to level the playing field between local retailers and out-of-state competitors, as the NRF continues to push Congress to pass legislation that would require online and remote sellers to collect state and local sales taxes.

January 30, 2014

Walmart Supercenters in California benefit communities by supporting additional job creation, small business growth and more robust sales tax revenues, according to a new economic impact report.

October 10, 2013

Safeway plans to exit the Chicago market where it operates 72 supermarkets under the Dominick’s banner by early 2014 after posting third quarter profits that were roughly half those of the comparable period the prior year.

April 11, 2013

President Barack Obama has proposed increasing federal taxes on cigarettes, drawing criticism from tobacco companies and praise from anti-smoking groups.

March 12, 2013

Second quarter sales increased 8% to $24.3 billion and profits, aided by a sizable tax benefit, increased 39% to $547 million, or $1.24 a share.

February 26, 2013

Macy's reported fourth-quarter sales and earnings growth that exceeded company expectations, prompting it to issue new guidance for 2013.

February 26, 2013

A 1.8% decline in second quarter same store sales at AutoZone was attributed to a two week tax return processing delay by the Internal Revenue Service.

February 14, 2013

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 11, 2013

Though a 2% increase in payroll tax may seem insignificant for middle- and upper-income families, it can cause a major change in shopping behavior for lower-income families, a new study has found.

December 5, 2012

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.

November 28, 2012

Costco will pay a $7 a share special dividend before year end as it looks to return cash to shareholders in advance of what is expected to be a 2013 tax increase on dividend payments.

November 12, 2012

Solid third quarter results have Dillard’s feeling good about the holidays.

July 18, 2012

The Index, which comprises four components — tax burden, initial unemployment claims, real wages and real home prices — rose to 3.22 from a reading of 3.09 the previous month.

June 29, 2012

Texas joins eight other states in taking legislative action requiring online-only retailers, notably Amazon.com, to collect sales tax. Online retailers will have to collect sales tax in Texas beginning July 1.

April 26, 2012

First quarter sales at the leading online retailer surged 34% to $13.2 billion during the first quarter ended March 31, as the company continues to enjoy a huge competitive advantage by allowing customers to avoid paying sales tax.

April 19, 2012

Walmart and other retailers have fought unsuccessfully for years to level the e-commerce playing field in the United States by requiring Amazon.com and other online-only merchants to collect sales tax. Doing so would eliminate the Internet pure play retailers’ most significant competitive advantage, and for a glimpse of just how significant that would be, look no further than Canada.

March 29, 2012

Jackson Hewitt Tax Service, the nation's second largest tax preparation firm, has been named Supplier of the Year by Walmart's financial services division.

February 23, 2012

Losing weight is a little like saving money. Consumers will always intend to do more of both, but then reality sets in and they tend to do neither. Retailers can count on that pattern holding true this year, which is good news because a recent study by the National Retail Federation shows those planning to save their tax refund is at an all time high.

January 9, 2012

Walmart announced that it is helping customers prepare for tax season by offering low-cost tax preparation preparation services and free in-store federal Form 1040EZ filing.

November 11, 2011

Sears Holdings Thursdayexpressed support for S. 1832, the Marketplace Equity Act, introduced by U.S. Sens. Enzi, Alexander and Durbin.

November 3, 2011

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 26, 2011

The National Retail Federation said it welcomed a proposal unveiled by House Ways and Means Committee Chairman Dave Camp, R-Mich., to reform the nation’s corporate tax structure.

October 17, 2011

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).

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