PwC alternatives alert, July 30, 2009

Recent legislation has been enacted that increases the New York City sales and use tax rate from 4% to 4.5%, effective August 1, 2009. Therefore, the effective sales and use tax rate for taxpayers conducting business in New York City is 8.875%. Please note that this rate increase will be reflected in your quarterly sales and use tax return (Form ST-100) for the period ended August 31, 2009, which is due September 21, 2009.

Another item of note, the legislation also repeals the New York City sales tax exemption for purchases of clothing items priced at $110 or more. The exemption for clothing and footwear costing under $110 remains.

For additional information, please contact your PricewaterhouseCoopers engagement team or any of the partners in our practice.

Contacts

Alison Gilmore: Marketing manager; Tel: +1 (646) 471 0588

Of further interest

PwC alternatives archive

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