$3 billion in new taxes hikes in 2019
$1.3 billion Business Sales tax (HB3427) : House Bill 3427 (also called “Student Success Act”) imposes a 0.57% Commercial Activities (gross receipts) Tax on “business activity” (sales) exceeding $1 million per year, minus 35% of the “cost of inputs” (e.g. materials) or labor costs, plus a flat fee of $250. It taxes business sales revenue…