New Taxes. Beginning January 1, 2013 there will be several tax increases to Fund Health Care that you should be aware of.

The government will begin collecting billions of dollars from tax increases beginning January 1, 2013. They include, but are not limited to: an increase in the payroll tax on wages, a tax on investment income and a new tax on medical devices.

The statewide sales and use tax will increase .25% and will apply for four years.

Payroll taxes will increase .9% for an individual who earns over $200,000 a year and for couples who earn over $250,000.  People who fall into this category will also be facing an additional Tax of 3.8% on investment income.

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