09/03/2009 05:12 am ET | Updated May 25, 2011

Sales tax rises to 8.875 as of Aug. 1; exemptions expire

The sales tax charged in New York City officially climbed half a percent as of August 1; the new rate is 8.875 percent.

Technically, it doesn't all go to NYC, which only keeps 4-1/2 percent.

The rate also includes a 4 percent New York State tax and a

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