Tax dispute in California affects billions that Newsom expects
During Jerry Brown’s first term as governor of California, he became embroiled in a highly complicated dispute over how the state should tax the income of multinational corporations. More than four decades later, the issue has resurfaced in a corporate…
Kamala Harris’ tax plans: What could happen
As the Democratic nominee for the White House in November, Kamala Harris has begun to shape her policies with a view to a possible promotion from vice president to president. Monetary policy has been a major theme in the current…
Data shows: New Jersey’s richest 1% pays $30 million in income tax
It’s no secret that top earners pay the highest tax rates across the country. In fact, according to a new study by Smartasset.com, the upper class pays about 45% of their total income taxes to the IRS. In the report,…
Sales tax revenue and total costs unclear if North Dakota voters legalize marijuana for recreational use
BISMARCK, N.D. (AP) — North Dakota lawmakers struggled Friday to determine the full financial impact of legalizing recreational marijuana, a factor voters will look at when they vote on a Voting measure on this topic in November. Key in the…
How could Iowa replace state income tax revenue?
Rick Morain is the former editor and owner of the Jefferson Herald, for which he writes a regular column. Republicans who control the Iowa House, Senate, and governorship have made no secret of their intention to eliminate the state’s income…
Lawyer: Federal authorities try to blacken Hunter Biden in tax trial with evidence from pornography
Hunter Biden’s star lawyer lashed out at federal prosecutors trying to smear the First Son by introducing evidence at his upcoming tax trial in Los Angeles that Hunter spent money on strippers and pornography. During a hearing in federal court…
Hillsborough County politicians advocate for renewal of half-cent sales tax
TAMPA, Florida – For James Castineda, every penny counts right now. “Of course, like most Americans in this country, we all live from check to check,” he said. So the father from Tampa has two big decisions to make when…
City of Petal requests extension of 3 percent restaurant and bar tax
PETAL, Mississippi (WDAM) – There’s plenty of fun to be had in Petal thanks to a three percent sales tax on restaurants, bars and lodging. The city hopes that the state parliament will extend the application of this tax beyond…
Tax court overturns appeal decision in case of foreign partnership
An appeals court decision could help financial advisers answer the tax questions of foreign clients who sell their U.S. partnership interests at a large profit. Foreign businesswoman Indu Rawat did not owe the IRS the $2.3 million in taxes she…
Is Kamala Harris pushing for a Gulf tax? What we know
Vice President Kamala Harris has talked about raising taxes on the richest Americans and the country’s major corporations, but could there also be tax increases for golfers? Harris, who officially accepted the Democratic Party’s presidential nomination on Thursday, announced details…
