Vermont Towns' Revenue Drops After Streamlined Sales Tax Agreement Signed

Two Vermont towns have experienced revenue drops after the Vermont legislature signed onto the national Streamlined Sales Tax Agreement.

"In the first half of 2007, Manchester's local option tax revenue decreased by 22 percent, from $254,000 in 2006 to $196,000 in 2007. After one of its most successful quarters at the end of 2006, the town experienced one of its worst quarters at the beginning of 2007. Sales tax revenues for the town were $248,000 in the first quarter of 2006 and $157,000 in the first quarter of 2007."

To cover the shortfall, one of the towns adopted a meals-and-alcohol local option tax.

Read the entire article.