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5 tax moves to make this COVID-19 affected June

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Soda taxes go flat in California, possibly Washington

With apologies to Charles Dickens, it is the best and worst of times for soda taxes. News out of Washington State today is that Seattle's sweetened beverage tax raised about $1 million more than predicted in its first three months. Seattle's tax — similar to others across the United States that tax a variety of sugary beverages but are popularly called soda taxes — took effect on Jan. 1, 2018 . In its first three months as law, it reportedly raised almost $4.5 million. If that pace holds throughout the rest of the year, it will blow past the city's budget office estimate that the tax would bring in nearly $15 million in its first year. Lawmakers who supported the 1.75-cents-per-ounce tax on certain drinks say it was enacted as a way to help reduce obesity and diabetes among Seattle's residents. A Seattle King County Department of Health representative said it's too early to know if the tax is having its intended health effects. Meanwhile, though, the local ...

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Tracy on the Where Accountants Go Podcast

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