Kamala Harris and Tim Walz.
Photo: AP
Amid reports that Kamala Harris is backing President Joe Biden’s tax proposal, claims have surfaced that it includes a 20% sales tax on golf-related purchases. The information has been posted on X by a parody account of the PGA Tour, the organizer of professional golf tournaments in North America.
He says that to “tax the rich,” the Harris-Walz administration, if elected, will implement the additional tax golf tax Claims like these began circulating after reports emerged that Kamala Harris would back Biden’s tax proposal in March 2024.
Joe Biden’s tax proposal included, among others, the following key points: no tax increase for those earning up to $400,000, a 25% tax for those with a net worth of $100 million or more, and an increase in corporate taxes from 21% to 28%. However, according to reports on the tax proposal, there is no mention as such of a tax increase for golf-related purchases.
Meanwhile, here is the post claiming there will be a new golf tax:
Sales tax applied in the U.S. to golf-related purchases varies by state and locality. Golf purchases are taxed at retail sales tax rates, which range from 2.9 to 10%, depending on the state and locality where the purchase is made. According to online retailers of gold products, sales tax will be charged based on the shipping address of the products.
While Joe Biden’s tax proposal for fiscal year 2025 proposes several changes to the current tax regime, it does not specifically mention a change in retail tax rates. Among the controversial changes are proposals to increase the excise tax on stock buybacks from 1% to 4% and to increase the minimum tax rate on corporate books from 15% to 21%. In addition, an increase in the top marginal rate on long-term capital gains dividends to 44.6% is proposed, which could push the effective tax rate above 50% in states such as California, New Jersey and New York.
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