Which States’ Companies Are Paying Higher Taxes Because of GSP Expiration? All of Them.

As we posted the other day, GSP expiration cost American companies $55 million in new taxes in November 2014, bringing the total taxes paid from August 2013 to November 2014. With GSP expiration, it’s not the case that just a few areas are impacted. Companies in every state are paying higher taxes, as shown on the graphic below.

GSP_Tariffs_Paid_by_State_Aug2013-Nov214Taxes paid range from a high of $134 million in California to a low of $153,000 in South Dakota. Even states with low(er) total taxes paid often bear the brunt for specific products. For example:

  • South Dakota accounted for more than a third of taxes paid on wooden statuettes from Sri Lanka;
  • Wyoming accounted for more than 80 percent of taxes paid on bone char imports from Brazil,
  • West Virginia accounted for more than 80 percent of taxes paid on iron cores for ignition systems from Thailand.

This often reflects a single importer being hit with higher taxes on niche products. And they will continue to do so until Congress renews GSP.

This entry was posted in Brazil, California, Florida, Georgia, GSP, Illinois, Maryland, New Jersey, New York, North Carolina, Ohio, South Dakota, Sri Lanka, Texas, Thailand, West Virginia, Wyoming. Bookmark the permalink.

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