Tax Refund

Speaker McCarthy said the latest talks have been “productive,” but no agreements yet. Ahead of a meeting with President Biden late Monday, House Speaker Kevin McCarthy (r-CA) said that the latest staff-level talks were productive. But public sentiment is changing regularly, with Rep. Garret Graves (R-LA) saying the talks were on “pause” Friday afternoon due to a lack of productive discussion; negotiations were back on a few hours later. As of last night, Biden told reporters they remain “optimistic we may be able to make some progress.”

Minnesotans will pay a higher gasoline tax and sometimes a new delivery fee. Democratic Gov. Tim Walz is expected to sign a legislative package that will index the state’s gasoline tax to inflation and increase it five cents per gallon over the next four years. The current tax of 28.5 cents per gallon has not changed since 2008. A fiscal analysis of the bill finds the tax will raise $155 million in the next two years. The package also includes a new 50-cent fee on retail deliveries over $100, which will go into effect on July 1, 2024. 

Report: Should Alabama’s online sales tax be higher? The Public Affairs Research Council of Alabama in a new report finds that the state’s online 8 percent sales tax has raised over $1.8 billion in revenue over the past six years. But the tax on online purchases is less than what people would pay in taxes in many of Alabama’s brick-and-mortar stores. The report says that after other local taxes are added to the tab, some physical stores have to charge 10 percent or more.

A lawsuit against Colorado over its property tax relief bill. The conservative political group Advance Colorado argues that the language in Senate Bill 303, passed by the legislature and now going to voters for approval on the upcoming November ballot, is misleading and in violation of the state’s constitution. The bill reduces property taxes and changes how Taxpayer Bill of Rights refunds are calculated. Advance Colorado says the state constitution does not allow for bills to deal with more than one subject, and the bill addresses both property taxes and refunds.

“May the loss be with you?” Disney World announced last week that it will close its underperforming Star Wars: Galactic Starcruiser-themed Halcyon hotel in September, after just over a year in operation. On the bright side, Disney World may be able to secure a $300 million tax deduction from closing the property, according to Disney Parks Chairman Josh D’Amaro. By closing the property, the company will be able to claim depreciation deductions of $100 million to $150 million over the next two quarters.


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