Q:

What is California's luxury tax?

A:

Quick Answer

California no longer has a luxury tax. A luxury tax is a tax placed on certain goods that are not considered essential.

Know More

Full Answer

The most recent luxury tax enacted in the United States was part of a bill signed by President George H. W. Bush at the end of 1991. Congress eliminated the tax two years later because it did not achieve its goal. When it was in place, the luxury tax affected the price of expensive items, such as luxury automobiles, yachts, jewelry, and furs. The purpose of the tax was to generate additional revenue to reduce the federal budget deficit. In most cases, the luxury tax did not affect the average consumer unless he or she splurged on a luxury item.

Learn more about Law

Related Questions

  • Q:

    What are some wage garnishment rules in California?

    A:

    In California, creditors can garnish up to 25 percent of an individual's disposable income or an individual's wages that are greater than 40 times the minimum wage, whichever is less, advises Nolo. As of 2014, California's minimum wage rate is $9 per hour, states California's Department of Industrial Relations.

    Full Answer >
    Filed Under:
  • Q:

    How do you serve divorce papers in California?

    A:

    Divorce papers are served on the other party in California in the same manner as other paperwork related to a court case, according to California Courts. Papers requiring service of process must be given to the other party by an adult who is not a party to the case.

    Full Answer >
    Filed Under:
  • Q:

    Who issues Letters of Testamentary in California?

    A:

    The probate court issues Letters of Testamentary in California. These letters appoint an individual as an executor of a will; and, they give this executor authority over the assets that are in an estate.

    Full Answer >
    Filed Under:
  • Q:

    Will a notary accept a passport as identification in California?

    A:

    According to the United States Citizenship and Immigration Services (USCIS), notaries in California will accept United States passports and passport cards or a foreign passport that has a USCIS endorsement. As passports are government issued, they are considered a legal form of identification. However, the passport must be current to be accepted.

    Full Answer >
    Filed Under:

Explore