At midnight this morning, a sales tax holiday began in the Bayou State on anything covered under the Second Amendment and a whole bunch of other stuff too.
Louisiana even went to the trouble of slapping together a 30-second ad:
Shockingly, American flags were completely omitted from this ad, which leads us to believe that there isn’t any political motive here, although this is only the second “Second Amendment Sales Tax Holiday.” You can safely assume that prior to 2009, Louisianians were not in fear of their freedom being taken away from them but since arackbay bamaoay started running things, people are arming themselves to the teeth for the impending roundup of gun snatching by the Feds.
For reference, here’s a list of everything that will be tax free but it boils down to this:
• Accessories designed to be used for hunting.
• Shotguns, rifles, pistols, revolvers or other handguns.
• Ammunition intended to be fired from a gun or firearm.
• Animal feed for consumption by game which can be legally hunted.
• Apparel such as safety gear, camouflage clothing, jackets, hats, gloves, mittens, face masks and thermal underwear for use while hunting.
• Off-road vehicles such as all terrain vehicles designed for hunting.
Not listed above but included in the exemption are “Knives that are manufactured and marketed as being primarily for use in hunting,” in case you’re one of those cold-blooded types that prefer killing with your bare hands. This does not include the amazing Ginsu Knife™ or other kitchen miracle blades.
Also not exempt are hunting dogs (taxed?) nor are “toy guns [Ed. note: wait, guns aren’t toys?] and vessels or off road vehicles utilized as children’s toys.” Additionally, “golf carts, bikes, motorcycles, tractors, or motor vehicles which may be legally driven on highways,” aren’t eligible.
So load up people. Hunting season is right around the corner. Although, for the sake of peace, try to leave the Democrats alone.
2010 Second Amendment Weekend Sales Tax Holiday is Sept. 3rd, 4th, & 5th [LA Dept. of Rev. via Don’t Mess with Taxes]
BP replaces CEO and posts $17 billion quarterly loss [Reuters]
“Oil giant BP Plc launched a plan to repair its battered image in the United States on Tuesday, ditching its xecutive and promising to slim down by trebling an asset sale target to $30 billion.
However, the company, the target of public anger over its Gulf of Mexico oil spill, tempted further ire by denying it needed cultural change and offsetting the costs of the spill, including expected fines, against its taxes.
The tax move will cost the U.S. taxpayer almost $10 billion.”
Northern Rock CFO Banned And Fined GBP320,000 Over Bad Loans [Dow Jones]
“David Jones, the former chief financial officer of Northern Rock PLC, was Tuesday fined GBP320,000 and barred from working in finance after the Financial Services Authority found he misled investors about the bank’s bad loans in the lead-up to the bank’s eventual collapse.
Jones most recently was CFO at Northern Rock Asset Management PLC, the “bad bank” of the nationalized lender after a restructuring of its operations. He left the company in April because of the FSA investigation, a week after two former colleagues were fined and banned for their roles in making the bank’s 2006 bad-loan figures appear better than they were.”
Where will those next gen clients come from? [AccMan]
And what will ask of their professional service providers? Right now, Gen X and Millenials don’t compromise much of the client base but that will change quickly when Baby Boomers start retiring en masse. What these new business owners will ask of their service providers is not quite clear. Similar to the demands currently placed on employers, service providers will have to be flexible and innovative.
Bernanke Says Tax-Cut Extension Maintains Stimulus [Bloomberg]
“Federal Reserve Chairman Ben S. Bernanke said extending at least some of the tax cuts set to expire this year would help strengthen a U.S. economy still in need of stimulus and urged offsetting the move with increased revenue or lower spending.
‘In the short term I would believe that we ought to maintain a reasonable degree of fiscal support, stimulus for the economy,’ Bernanke said yesterday under questioning from the House Financial Services Committee’s senior Republican. ‘There are many ways to do that. This is one way.’ ”
Accounting firm Kaufman Rossin & Co. settles case for $9.6M [Miami Herald]
Kaufman Rossin was the auditor of the two Palm Beach funds that invested over a billion dollars with convicted Ponzi Schemer Tom Petters.
And in case you forgot, convicted forensic accountant and suit lover Lew Freeman was the Chief Restructuring Officer for the Palm Beach funds. Quite the cesspool.
How Low Self-Esteem Can Cost You The Job [Forbes]
Are you a low talker? No one is suggesting that you don’t know what you’re talking about but the perception could be that you don’t and in turn, It could be affecting your career.
Lords to probe audit market [Accountancy Age]
“A recent report from the FRC and FSA criticised the role of auditors during the crisis saying they had failed to tackle management bias.
The Lords investigation will look at basic questions such as wether Big Four dominance increases the price of audit and whether the market needs to be opened up.”
Oracle’s Ellison: Pay King [WSJ]
$1.84 billion over the last ten years is not too shabby.
Sales tax holidays 2010 [Don’t Mess with Taxes]
Kay Bell has a rundown of the sixteen states that are having sales tax holidays right before the kids go back to school.