tax impact estimate
Hello.
I am estimating the impact of direct sales of $3.089 billion ($2012 dollars) at lodging and restaurants in New Hampshire (2011 data set) - $499 million at hotels and motels (Sector 411) and $2,590 million at restaurants (Sector 413). I found something odd at its tax impact estimates. In New Hampshire, we don't have general sales tax, but we do have a 9 percent tax on spending at lodgings and restaurants. The 9 percent of $3 billion should be $270 million. I believe this rooms and meals tax should show up in Indirect Bus Tax: Sales Tax. But the IMPLAN-estimated tax in this category is only $53 million. Could you explain this issue, please? If it requires a customization, could you also show me how to do it? Thank you.
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IMPLAN SupportHi Daniel, The tax impact reports actually don't track tax rates. Instead the tax impact reports are estimates provided based on actual tax dollars for your region. Thus the values of the tax impact reflect actual regional estimates but aren't calculated on the basis of rates. However, while the tax estimates are regional the split of taxes across payment types is based on national averages. Because of this the View By: Direct Tax Impact report should reflect an accurate total tax value, but will not reflect necessarily the regionally appropriate distribution. We typically recommend, that if you know the Direct taxes associated to your activity that you overwrite the IMPLAN Direct tax estimates and then use the Indirect and Induced measures to sum a new total value. [url=https://implan.com/index.php?option=com_docman&task=doc_download&gid=222&Itemid=60]Here is some additional documentation [/url]on the tax impact report, that you may find helpful.0 -
Hello. Thank you for your explanation.0
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