Content about Tax

April 11, 2013
Obama looks to raise taxes on cigarettes

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

March 12, 2013
Costco sales, profits up again in 2Q

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 bests guidance in Q4

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

February 26, 2013
Tax delay dents AutoZone sales

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
NRF: Retail sales up slightly in January

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
Study: Shoppers turn to dollar stores as payroll tax rises

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 joins the special dividend club

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 gives shareholders a special gift

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
Dillard’s well positioned for holidays

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

July 18, 2012
Improving housing market helps drive spending in June

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 becomes latest state to tax online retailers

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
And speaking of Amazon.com . . .

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
One area where Amazon.com doesn’t have an advantage

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 named a Walmart Supplier of the Year

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
Will consumers do what they say with their refunds?

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 preps for tax season

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 supports bill to level sales tax playing field

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

November 3, 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 26, 2011
NRF welcomes proposal to reform corporate tax structure

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
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 2, 2011
How good is Amazon.com?

Buying online from Amazon.com is a fantastic experience.

August 1, 2011
Internet retailers get dealt taxing blow

WASHINGTON — Amazon and other online-only retailers have been dealt a major blow, as legislation introduced last week seeks to require such retailers to collect sales tax.

The Main Street Fairness Act would allow states that have adopted the Streamlined Sales and Use Tax Agreement to require out-of-state sellers to collect sales tax whether they have a physical presence in their state or not. The bill would cover all “remote sellers,” which include online retailers, catalog merchants and “1-800” offers on radio and television.

June 2, 2011
NRF sends Sears exec to Washington

WASHINGTON — Sears Holdings VP tax James Misplon testified on behalf of the National Retail Federation, urging Congress to focus on jobs and the economy as lawmakers explore options for corporate tax reform.

Misplon testified before the House Ways and Means Committee this morning during a hearing on how corporate tax reform can encourage job creation. Sears Holdings is an NRF member and Misplon chairs the NRF Taxation Committee.

April 28, 2011
Safeway shows sales improvement

Higher fuel sales and a slight increase in identical-store sales helped Safeway meet its expectations for the first quarter of 2011.

April 1, 2011
Oops! Bad tax advice costs Office Depot $80 million

The $33 million profit Office Depot posted in 2010 turned into a $46 million loss late Thursday after the company released restated financial results that reflected an unfavorable tax ruling by the Internal Revenue Service.

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