Vendors' Sales Tax Compensation Rate to Increase on Aug. 1

Date: July 30, 2020

Gov. John Bel Edwards signed legislation on July 13 increasing the vendors’ sales tax compensation rate. The higher rate takes effect Friday, Aug. 1.

The current rate is 0.935%. On Friday, the rate will increase to 1.05% of the total amount of sales and use taxes collected. 

NFIB urged lawmakers to approve the compensation rate increase to help offset the cost of collecting and remitting the sales tax.

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