Monday, November 17, 2008

When Good Things Happen to Good Cake

This just in!!!
The NC State Legislature just passed a new provision to the tax law exempting "artisan bakeries" from charging state sales tax!
From the NC Department of Revenue:
"As rewritten, prepared food other than bakery items sold without eating utensils by an artisan bakery is subject to the applicable State and local rates of tax. Bakery items (bread, rolls, buns, biscuits, bagels, croissants, pastries, donuts, danish, cakes, tortes, pies, tarts, muffins, bars, cookies, and tortillas) sold without eating utensils by an artisan bakery are exempt from State tax and subject to only the 2% local tax applicable to sales of qualifying food. An “artisan bakery” is a bakery that derives over 80% of its gross receipts from bakery items and whose annual gross receipts, combined with the gross receipts of all related persons as defined in G.S. 105-163.010, do not exceed $1,800,000.00."
Cake lovers, rejoice- you now have 4.5% less to pay for your baked goods, as long as you buy them from a qualified artisan. Less sales tax for the state of North Carolina = more cupcakes for you. Awesome.
xo
jodi