Saturday, October 24, 2015
Maryland to Begin Taxing Halloween Treats
This year, Halloween will not only be bad for Marylanders’ teeth, but for their wallets, as well. Earlier this week, the Maryland Department of Assessments and Taxation announced that the state tax of 6% will be levied on the candy that children collect while trick-or-treating in the state on Halloween.
A New Spin On an Old Tax
“This is not a new tax, per se,” said Max Proffets, spokesperson for the department. “Maryland has a Gift Tax on the books already that is used from time to time to prevent taxpayers from using gifts as a scheme to avoid other taxes. Although rarely used before now, the law could designate Halloween candy as a gift, which makes it taxable. We know that may be an unpopular interpretation, but we’re just doing our jobs.”
Mr. Proffets went on to say that, with the average pound of candy worth approximately six dollars, the tax would be set at $0.36 per pound. The average child nets 4.5 lbs. of candy during Halloween trick or treating, meaning that the net total revenue for the state would be $1.62 per child. This adds up to millions of dollars annually in previously unrealized revenues.
Editor's Note: We thought we would have a bit of fun and post a little satire. Enjoy!
at 10/24/2015 09:30:00 AM