I was right.
WPRI has the entire break down.
H/T Charlie Sykes
|Tax Increase||FY 2010||FY 2011|
|Adopt Combined Reporting||$75,600,000||$111,700,000|
|Adopt Main Street Equity Act||30,300,000||31,000,000|
|Extend Sales Tax to Digital Personal Property||4,200,000||6,700,000|
|Cigarette Tax Increase||127,400,000||130,300,000|
|Tobacco Products Tax Increase||15,200,000||18,000,000|
|Very High Earner Income Tax Bracket||175,563,000||136,194,000|
|Reduce Capital Gains Exclusion to 40%||85,100,000||95,500,000|
|Nonresident Pass-Through Withholding||38,500,000||0|
|Decouple from Federal Qualified Production Activities Deduction||38,200,000||33,500,000|
|Affiliated Entities Sales Tax Treatment||19,800,000||21,000,000|
|Fully Recognize Throwback Sales||57,700,000||37,500,000|
|Air Carrier Definition||4,000,000||4,000,000|
|Economic Nexus Standard for Internet Businesses||1,500,000||1,500,000|
|Internal Revenue Code Updates||-40,560,000||-5,490,000|
|Angel and Early Stage Seed Investment Credits Revisions||0||-7,000,000|
|Increased Research and Development Investment Credit||0||-5,000,000|
|Sunset Film Production Services Tax Credit||5,000,000||5,000,000|
|Delay Credit for Medical Records Technology Investments||4,500,000||10,000,000|
|Next Generation Farmer Tax Credit (effective 2011)||0||0|
|Dairy Cooperative Tax Credit||-600,000||-700,000|
|Meat Processing Facility Tax Credit||-300,000||-700,000|
|GPR Total Tax Changes||$641,103,000||$623,004,000|
|Oil Company Profits Tax||100,324,900||171,490,300|
|SEG Total Tax Changes||$410,345,900||$511,186,100|
|NET TOTAL ALL FUNDS||$1,051,448,900||$1,134,190,100|
Before you get too upset by this, just wait...The Democrats controlling the state legislature have not lumped in their tax increases for their pet pork projects.
Remember the $15 billion payroll tax increases in health care? Yep, that could be what they are plotting right now!
Okay so every man, woman and child living in this state, about 5.5 million of us will have to shell out about $3973.93 each over the next two years.