Oklahoma is among the states that levy exceptionally high sales taxes. Source: Boston Public Library via Flickr.
Nearly every state in the union charges a sales tax, and the tax levied on goods and services sold at the retail level is just one of many tools states use to collect revenue, along with licensing and taxes on income, corporations, and property. Sales taxes tend to attract less attention than income taxes, though general sales taxes and gross receipts taxes, which are charged to businesses for transactions, contribute nearly as much revenue as state income taxes. In 2013, states collected $254.7 billion in sales and gross receipts taxes -- about $806 per American -- versus $980 per person in state income taxes.
The median sales and local tax in the U.S. is just under 7%. Here's a look at the five states with the highest combined state and local sales taxes:
Best Dividend Companies To Watch For 2016: Kraft Foods Group Inc (KRFT)
Kraft Foods Group, Inc. (Kraft Foods Group), incorporated on March 16, 2012, operates food and beverage businesses in North America. The Company manufactures and markets food and beverage products, including convenient meals, refreshment beverages and coffee, cheese and other grocery products, in the United States and Canada, under a stable of iconic brands. Its product categories span breakfast, lunch and dinner meal occasions, both at home and in foodservice locations. The Company sells its products to supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, drug stores, gasoline stations, value stores and other retail food outlets in the United States and Canada. On September 14, 2012, the Company�� parent company, Kraft Foods Inc. (Kraft ParentCo), issued a press release relating to the anticipated trading markets for Kraft Foods Inc. and Kraft Foods Group, Inc. common stock through the completion of its spin-off from Kraft Foods Inc. In October 2012, Mondelez International, Inc. completed the spin-off of North American grocery business, Kraft Foods Group. In June 2013, Kraft Foods Group Inc announced plans to create two new, standalone business units: Meals and Desserts, and Enhancers and Snack Nuts.
The Company�� brand portfolio consists of food brands in North America, including three brands: Kraft cheeses, dinners and dressings; Oscar Mayer meats, and Maxwell House coffees- plus over 20 brands. It manufactures and sells food and beverage products in 50 categories. The Company operates in five segments: U.S. Beverages, which manufactures packaged juice drinks, powdered beverages and coffee; U.S. Cheese, which manufactures processed, natural and cream cheeses; U.S. Convenient Meals, which manufactures processed meats and lunch combinations; U.S. Grocery, which manufactures spoonable and pourable dressings, condiments, desserts, packaged dinners and snack nuts, and Canada & N.A. Foodservice, which sells products that span ! all of its segments and includes the Canadian and Puerto Rico grocery business, the North American foodservice operations and the North American Grocery Export Business.
U.S. Beverages
During the year ended December 31, 2011, the Company�� U.S. Beverages segment contributed 16% of its combined net revenues. This segment manufactures refreshment beverages, including Capri Sun (under license) and Kool-Aid packaged juice drinks, Kool-Aid, Crystal Light and Country Timepowdered beverages and MiO liquid concentrate, and coffee products, including Maxwell House, Gevalia and Yuban coffees, Maxwell House Internationalbeverage mixers and Tassimo (under license) hot beverage system.
U.S. Cheese
During 2011, U.S. Cheese segment had contributed 20% of the Company�� combined net revenues. This segment manufactures processed cheese, including Velveeta and Cheez Whiz processed cheeses, Kraft and Deli Deluxe processed cheese slices, Kraft grated cheeses and Polly-O and Athenos hummus and cheeses; natural cheese, including Kraft and Cracker Barrel natural cheeses, and cream cheese, including Philadelphia cream cheese and cooking creme.
U.S. Convenient Meals
During 2011, the Company�� U.S. Convenient Meals segment contributed 18% of its combined net revenues. This segment�� principal brands and products include Oscar Mayer lunch meats, hot dogs and bacon, Lunchables lunch combinations, Boca soy-based meat alternatives, and Claussen pickles.
U.S. Grocery
During 2011, the Company�� U.S. Grocery segment contributed 25% of its combined net revenues. This segment�� principal brands and products include Kraft and Kraft Deluxe macaroni & cheese dinners, Planters nuts, trail mixes and peanut butter, Corn Nuts corn snacks, Jell-O dry packaged desserts and refrigerated gelatin and pudding snacks, Cool Whip whipped topping, Jet-Puffed marshmallows, Baker�� chocolate and baking ingredients, Kraft and Miracle Whip sp! oonable d! ressings, Kraft and Good Seasons salad dressings, A.1. steak sauce, Kraft and Bull��-Eye barbecue sauces, Grey Poupon mustards, Shake N��Bake coatings, Stove Top stuffing mix, Taco Bell Home Originals (under license) meal kits, Velveeta shells and cheese dinners, and Velveeta Skillets meal kits.
Canada & N.A. Foodservice
During 2011, the Company�� Canada & N.A. Foodservice segment contributed 21% of its combined net revenues. The principal products and brands in this segment span all of its segments. Canadian grocery offerings include Nabob coffee and Kraft peanut butter, as well as a range of products in the Grocery Business Lines. The North American foodservice business sells branded products, including Maxwell House coffee, A.1. steak sauce and a range of Kraft sauces, dressings and cheeses, and serves the needs of restaurants and other foodservice operations. Puerto Rico grocery offerings include all grocery business lines, except for powdered and liquid concentrate beverages, such as Crystal Light, Tang and MiO. The North American Grocery Export Business products and brands span all grocery business lines, except for powdered and liquid concentrate beverages and certain products sold under brands, such as Philadelphia cream cheese and Kraftmayonnaise, which marketed and sold locally by Kraft ParentCo in countries outside the United States and Canada.
Advisors' Opinion:- [By James E. Brumley]
What do you get when you cross a Coffee Holding Co., Inc. (NASDAQ:JVA) with a Medical Marijuana Inc. (OTCMKTS:MJNA) and a Kraft Foods Group Inc. (NASDAQ:KRFT)? No, it's not a setup for a punch line - there's a legitimate answer. And that answer is, Latteno Food Corp. (OTCMKTS:LATF).
5 Best Services Stocks To Own For 2015: 51job Inc.(JOBS)
51job, Inc. provides integrated human resource services primarily in the People?s Republic of China. . The company provides recruitment related advertising services, including print advertising services through 51job Weekly, which is a city-specific recruitment advertising publication that is published once a week and is distributed as an insert in local newspapers and/or on a stand-alone basis; and online recruitment services through its Website, www.51job.com. It also offers other human resource related services, such as business process outsourcing, which consist of social insurance and welfare payment processing, regulatory compliance, and payroll processing; and executive search services, as well as conducts training seminars in the areas of business management, leadership, sales and marketing, human resource, negotiation skills, financial planning and analysis, public administration, manufacturing, secretarial, and other skills for the general public and corporate cl ients. In addition, the company provides campus recruitment services; conducts salary, employee retention, and other human resource related surveys; organize and host annual human resource conferences and events, which include lectures, seminars, workshops, and networking opportunities for human resource professionals; and provides assessment tools to assist human resource departments in evaluating capabilities and dispositions of job candidates and existing employees, aiding employee placement, and allocating employee resources, as well as hiring and support services to employers on select recruitment projects. It provides recruitment and other human resource related services to employers through its sales offices, as well as through its sales and customer service call center. The company was founded in 1998 and is based in Shanghai, the People?s Republic of China.
Advisors' Opinion:- [By Ben Rooney]
51job (JOBS), an online job search website similar to Monster.com (MWW), has surged more 60% this year.
But there is one notable Chinese dot-com stock that's sitting out the big rally. Shares of Renren (RENN), the social network known as China's Facebook (FB, Fortune 500), are down 3% for the year.
- [By John Udovich]
As US and global economies recover, hiring should increase with overlooked recruitment related stocks like Cornerstone OnDemand, Inc (NASDAQ: CSOD), 51job, Inc (NASDAQ: JOBS) and Staffing 360 Solutions Inc (OTCBB: STAF) being among the first to benefit aside from those who have found employment:
- [By WWW.DAILYFINANCE.COM]
Andy Wong/AP Alibaba (BABA) is the new belle of the dot-com ball in China. The e-commerce juggernaut pulled off a record initial public offering in September when it raised $25 billion on the way to becoming a public company. Analysts love Alibaba. They were able to initiate coverage on Wednesday, following the 40-day quiet period that follows an IPO's debut. Only one of its underwriters -- Goldman Sachs -- failed to tap it as a buy recommendation. It's easy to see the appeal. Alibaba helped 231 million active buyers place 11.3 billion orders totaling $248 billion in transactions last year, and it's just getting started. However, the stock, with its nearly $250 billion market cap, isn't cheap. Let's look at some Chinese dot-coms that have been trading longer and could be more compelling bargains. Baidu (BIDU) China's leading search engine posted another blowout quarter on Wednesday, just as analysts were gushing all over Alibaba. The company behind China's largest search engine saw revenue soar 52 percent over the prior year's third quarter. Earnings climbed just 27 percent, but that was twice as fast as analysts were expecting. Baidu is investing in low-margin online specialties including travel, video and mobile app storefronts, and that weighs on bottom-line growth. Baidu remains one of China's biggest winners. It went public nine years ago at a split-adjusted price of $2.70, and now it trades north of $200. Baidu fulfills roughly two-thirds of all queries, and it is rocking at a time when its profitability is still suppressed. 51job (JOBS) Matching employees to potential hires started out with old-school tech for 51job. It got its start by inserting weekly job listings in more than two dozen leading Chinese newspapers. Then the Internet came along, allowing 51job to convert its thick Rolodex and respected brand into a leading online recruiter. It's working: 51job is growing its revenue in the low double digits. It's trading at a reasonable 22 time
5 Best Services Stocks To Own For 2015: Danone SA (DANOY)
Danone SA, incorporated on February 2, 1899, is a France-based company engaged in food processing activities. The Company operates in four business lines, including Fresh Dairy Products, Waters, Baby Nutrition and Medical Nutrition. The Fresh Dairy Products business line�� brands are Danone, Actimel, Activia, Danacol and Vitalinea. The Water business line offers brands, such as Evian, Volvic, Aqua, Bonafont, Font Vella and Lanjaron. The Baby Nutrition business line include Bledina, Gallia, Nutricia, Cow & Gate, Milupa, Mellin and Dumex brands. Medical nutrition business includes Nutricia, Nutrini, Nutrison, Fortimel, FortiCare, Fortisip, Neocate and Infatrini brands. As of December 31, 2009, the Company acquired Danone Clover and a 26.85% interest in Micropharma. In December 2010, the Company and Unimilk announced the finalization of the merger of their Fresh Dairy Product businesses.
In Europe the Company�� main markets are France, Spain, Germany, Italy, the Benelux countries, the United Kingdom, Poland and Russia. The Company�� product Actimel, the probiotic dairy product, if consumed daily, helps to strengthen the organism�� natural defenses. The Waters business line includes activities focused on natural or flavored mineral water and on fruit-flavored or tea drinks, with a positioning concerned with health benefits. The Company�� baby nutrition business line�� activities consist mainly of producing food for newborns and babies (infant milk formula, follow-on milk, and growing up milk). It also offers a diverse range of products for
children aged 6 to 36 months. Specially developed and clinically tested formulas have also been developed for babies suffering from milk protein intolerance. The Medical Nutrition business line develops nutritional products adapted to specific needs, namely those of hospitalized patients, in order to prevent malnutrition and to improve its consumers daily life.
The Company competes with Nestle, PepsiCo, Coca-cola, Abbott, Mead! Johnson and Fresenius.
Advisors' Opinion:- [By Rich Smith]
On Tuesday, the Seattle coffee company announced that it's teaming up with France's Danone (NASDAQOTH: DANOY ) to begin marketing a "jointly created and developed" selection of specialty yogurt products.
- [By Jim Jubak]
Six milk powder producers, charged by China's National Development and Reform Commission with price fixing, have pled guilty and will be fined 669 million yuan ($109 million.) The companies—Mead Johnson Nutrition (MJN), Danone (DANOY) subsidiary Dumex, Abbott Laboratories (ABT), Fonterra Cooperative Group (FSF:AU), FrieslandCampina, and Biostime International Holdings—admitted they set minimum prices for distributors in order to keep prices high. Many of the companies had earlier cut the prices they charge in China—Fonterra had cut the price of its Anmun brand of baby formula 9%, Abbott Laboratories had reduced prices by as much as 12%, and Mead Johnson had lowered prices by 7% to 15%. This is, CaixinOnline reports, the harshest penalty handed out under China's five-year-old anti-monopoly law. The announcement of the fine, hard on the heels of a ban by China on all imports of whey protein products from Fonterra—after regulators found a batch of whey from a Fonterra plant in New Zealand contaminated with botulism—makes it clear that something big is going on here.
5 Best Services Stocks To Own For 2015: Good Times Restaurants Inc.(GTIM)
Good Times Restaurants, Inc., through its subsidiary, Good Times Drive Thru Inc., engages in developing, owning, operating, and franchising hamburger-oriented drive-through restaurants. The company operates restaurants under the Good Times Burgers & Frozen Custard name primarily in Colorado. It also has franchised restaurants in North Dakota and Wyoming. As of September 30, 2011, the company operated 25 company-owned and joint venture restaurants located in Colorado; and franchises, including 16 located in Colorado, 2 in Wyoming, and 2 in North Dakota. Good Times Restaurants, Inc. was founded in 1987 and is based in Golden, Colorado.
Advisors' Opinion:- [By John Udovich]
Small cap restaurant stocks BJ's Restaurants, Inc (NASDAQ: BJRI), Good Times Restaurants Inc (NASDAQ: GTIM) and Giggles N Hugs Inc (OTCMKTS: GIGL) aren�� well known to most investors and consumers, but they have produced their share of decent returns for investors. Here is what investors need to know about all three small cap restaurant stocks:
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