Connecticut Jewelry Tax Targeted



Jewelers of America and the Connecticut Jewelers Association are marshaling their troops to fight a proposal by Gov. Dannel P. Malloy to raise taxes on ­jewelry purchases in his 2012–13 budget.The governor proposed a 3 percent tax on jewelry priced higher than $5,000. Because Connecticut already has a general sales-tax rate of 6 percent (which, under the proposed budget, would rise to 6.35 percent for retailers), this would mean that ­jewelry over $5,000 would be taxed at a rate of more than 9 percent. The luxury tax also applies to automobiles (over $50,000), boats (over $100,000), and clothing (over $1,000). Such levies “just don’t work,” says Jewelers of America chief operating officer Robert Headley. “The government may be trying to raise revenue, that is fair,” he says. “What is not fair is that this tax will end up hurting our members. Consumers will end up not buyi
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out