This blog was last updated on June 27, 2021
How Do I Tax Thee? Let Me Count the Ways… Valentine’s Day is just around the corner,and that means teddy bears, roses, and, of course, candy! Crazy facts about the amount of candy purchase can be found everywhere.
- According to National Confectioners Association (NCA), about 40 million heart-shaped chocolate boxes are expected to be sold for Valentine’s Day this year.
- 70% of chocolate hearts sold at Walgreens are purchased within the last 48 hours leading up to Valentine’s Day.
- About 8 billion candy hearts will be produced this year that’s enough candy to stretch from Rome, Italy to Valentine, Arizona 20 times and back again.***
There is no question that candy is the most popular gift for Valentine’s Day but do you know which of these sweet treats are taxed? Take Our Quiz to find out where you stand in comparison to your sweet-toothed friends! Sales Tax for Valentine’s Candy – Food Rules May Not Apply Many states have exemptions or lower rates that apply to food, but sometimes those rules don’t apply to candy. The Streamlined Sales Tax Program (SSTP) set out to create uniform definitions of items in order to simplify sales and use tax collection and administration by retailers and states. What the SSTP considers to be candy may differ from what you may believe to be candy. Are you a Candy Tax Expert? Tax rules can be complicated. Whether they’re candy-related or not, the Taxware Research team is here to help! Our Taxware Research team is dedicated to tax compliance research in all U.S. and Canadian jurisdictions and worldwide. Staying up-to-date on the intricacies of ever-changing tax rules is what sets our software and services apart. Have questions about sales tax rules? Ask a Taxware Expert today.
