How would a sales tax decrease affect your business?
For 3PRIME, not much! We haven’t yet started selling flooring in CT or designer handbags, so this shouldn’t have an immediate affect on us.
But the proposed budget seeks to decrease the retail sales tax from 6 percent to 5.5 percent. Some of our local CT clients could experience an uptick in sales at a much needed time.
For example, RhinoShelters.com, the new brand for MDM Shelters portable garage products, will find that their customers save a bit on their sales taxes. this improves their ability to compete with other online sellers selling in CT, where MDM would have to charge sales tax.
Another local company, Universal Hotel Liquidators, a CT furniture store, will definitely benefit since most of their sales are to local New Haven residents. Of course, people come from all over CT, MA, and even NY because of their great deals, but all of these are taxable sales, so each of those customers stands to save a few dollars.