Summer's on its way and so is the tanning tax.
As part of the health care reform bill passed last night by the House, several taxes will start showing up to help pay for the changes.
The 10 percent excise tax on indoor tanning services takes effect July 1. So you might want to schedule your session sooner rather than later.
Other taxes and payment mechanisms are further down the road, such as limiting flexible spending account contributions to $2,500 beginning in 2013 and taxes on "Cadillac" coverage to be paid by insurers starting in 2018.
The Tax Foundation provides a comprehensive look in a nifty timeline of all the taxes that will pay for the $940 billion in new health care spending over the next 10 years.
Related posts:
- Bye-bye Bo-Tax. Hello, Tan Tax
- 2,074 pages + $849 billion = Senate health care bill
- The case for taxing health care benefits
- Annual health care choice time
- Health care bill gives IRS added power
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Bruce W.
If there were a 10% tax on Jeri-Curl you would hear many many voices shouting.
What about a 10% tax on all beach goers, where most of the sun BURNING occurs?
Tessa Carroll
Thank you, Kay for bringing some of these new taxes to light — And for providing links to other various taxes that will be taking effect over the next several years. It is resources like this that have become invaluable for keeping financial professionals on top of their games.
Tessa Carroll
http://www.vbpoutsourcing.com
Daddy Paul
With a 10 percent tax on tanning it would not surprise me to see it be come complementary with a haircut or other services. Also I would think such a tax would be deemed as racial discrimination.