US retail compliance rules that make you look twice
March 12, 2012
Accounting Today recently took a look at some examples of quirky U.S. retail legislation
from across the country, zeroing in on some of the more unique ways that states raise needed tax revenue.
For instance, Colorado does not regard liquor-filled candy as food, meaning it's exempt from an allowance that makes food tax-free when purchased under federal assistance programs. As of March 2010, the state also eliminated an exemption for non-essential food items and packaging accompanying purchased food and beverages. For example, while cups are viewed as essential, lids are not.
New York also has an interesting U.S. retail compliance
requirement regarding food - specifically, bagels. Buying a whole bagel to take home exempts the consumer from tax, but if the same item is bought to be eaten on the premises, the store must charge sales tax on the purchase price. According to the news source, this results in New Yorkers paying an extra 8 or 9 cents per bagel.Retail and point of sale technology
can help merchants keep track of garden variety retail legislation, as well as states' more unusual requirements.