Inflation causes bump in meals & rooms tax revenue | CloseUp Share Copy Link Copy PRESIDENTIAL MEME COIN ILLEGAL, AS LAWMAKERS IN CONCORD TRY TO SORT OUT STATE FINANCES AND HOW MUCH MONEY WILL BE AVAILABLE FOR THE NEXT TWO YEAR BUDGET. THERE’S AN INTERESTING TWIST ON THE ROOMS AND MEALS TAX. TOP REVENUE OFFICIALS SAY INFLATION IS ACTUALLY PLAYING A ROLE IN BOOSTING THOSE TAX REVENUES.

INFLATION WILL LIKELY CAUSE AND HAS CAUSED THE PRICE OF MEALS TO INCREASE. THAT WILL ESSENTIALLY INCREASE THE AMOUNT OF REVENUE THAT WE RECEIVE, BECAUSE THE MEAL, THE PRICE OF THE MEAL IS THE BASE OF THE TAX UP UNTIL THE POINT WHERE THE PRICES GET SO HIGH THAT PEOPLE START TO BACK OFF. SO WE HAVE SEEN THE PRICE OF MEALS INCREASE AND WE HAVEN’T YET REALLY SEEN CONSUMERS KIND OF CONSTRAINING IN THAT WAY.

SO THE TAX HAS BEEN GROWING IN TERMS OF THE STATE BUDGET. THE SENATE EXPECTS TO HAVE MORE MONEY