Michigan prepaid gasoline sales tax withhold rate changes to
14.20 cents per gallon June 1st, 2010.
The Michigan Department of Treasury has announced that the Prepaid Gasoline Sales Tax Withhold Rate will change to 14.20 cents per gallon on June 1st, 2010.
Presently the rate is 12.40 cents per gallon. Public Act #556 of 2008 requires a review of the rate every 3 months, and to change the rate if the average retail price of gasoline changes at least 10% since the last change. The new rate was promulgated after review of the statewide average retail price of self-serve unleaded regular gasoline for the period January 1st, 2010 and ending on March 31st, 2010.
This more frequent review and ability to amend the withhold rate on a quarterly basis will help keep the withhold rate more in line with the actual sales tax collected.
Be sure to analyze your “wholesale price” effective June 1st, 2010, When calculating your retail price keep in mind that your supplier is collecting 1.80 cents per gallon more toward your Sales Tax Withhold Deposit.
Compliance Documents for the Federal Excise Tax now Available
Compliance documents are available now for you to prepare for implementation of the April 1 increase in federal excise taxes on tobacco products. On March 31, 2009 all retailers must take an inventory of product on hand so that they can accurately pay the IRS for appropriate taxes on floor stocks. These taxes are due August 1. To ensure compliance with applicable tax regulations, retailers are encouraged to download the official instructions (PDF) and the floor tax forms (PDF) provided by the U.S. Treasury Department, Alcohol and Tobacco Tax and Trade Bureau (TTB). TTB asks that you contact the National Revenue Center directly with any specific questions. E-mail your questions to
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or call the NRC at 1-877-TTB-FAQS (1-877-882-3277) toll free.
Download the forms here:
Official Instructions [PDF]
Floor Tax Forms [PDF]
Retailers:
Nutritional Information Posters
Post Nutritional Information for Consumers so an FDA Mandate won’t be Necessary
The Food and Drug Administration (FDA) has created a voluntary nutrition information program to help consumers make informed purchasing decisions that reflect their dietary needs. Now, the FDA’s Center for Food Safety and Applied Nutrition is providing posters to encourage retail stores that sell raw fruits, vegetables and fish to participate in the point-of-purchase nutrition information program (21 CFR 101.42 through 101.45).
While displaying the information is voluntary at this point, the regulation also states that if volunteer participation by food retailers drops below 60 percent, the FDA has the right to mandate nutrition labeling on these products. The FDA will begin surveying stores starting March 1, 2008 to determine if there is sufficient voluntary compliance. Retailers are urged to post this valuable nutrition information as a service for health conscious consumers and avoid mandatory regulation.
Retailers can download the posters and print them for display in proximity to the seafood, fruits and vegetable areas in the stores. The posters could also be given away to customers as handouts. The downloadable and printable posters contain nutrition information for the 20 most frequently consumed raw fruits and vegetables in the United States. There is also a poster that includes nutritional information for seafood.
Click the link below to download and print these posters:
Here is the list of food items with nutritional information reflects the updates published in the Federal Register of August 17, 2006 (71 FR 47439).
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