This blog will be a rare rant about the tax situation in our state and county. The end of
March is a tax reckoning for The Indian Oil Company Inc, the actual legal owner of Better
Days Pub & Eatery. March requires sales tax, property tax, and payroll tax payments
that basically takes all the money we can scrudge up to satisfy. While I will admit to poor
financial management that exasperates tax time, the whole picture is pretty discouraging
when you consider this equation:
Total Revenue - 8.5% Sales Tax - Payroll Tax (@3%) - Property
Tax(@10%) = Revenue after Tax
Pretty close to 25% of our revenue is paid out in some form of tax. Then to add insult
to injury we have to pay over 30% personal income tax on any profit that our business
makes.
It seems to me that someone would be aggressivly working to change this system and
establish a more equitable means of taxing small business. Our elected officials talk a
good talk but don't walk the walk based on the results. Instead they give themselves
raises and squabble between themselves to the point of shouting matches. It is probably
because the larger goverment agencies that control our economy give local goverment
little to work with. The machine is running the people which is not the way it's supposed
to be, thus the second amendment.