Hedlund Report: Inaction exacerbates state budget troubles Oct 8, 2008
Rather than enacting reforms, the Legislature eventually voted to temporarily raise the income tax first to 5 ... Time will tell, however, if he is sincere in his interest to abolish the Turnpike Authority and reform the state pension system, or if that is just a politically motivated gesture intended to save the state s income tax. (Scituate Mariner, MA)
How can Nebraska possibly vote Republican? Oct 8, 2008
People here don't want to elect a known supporter of radical american haters like the weatherman underground or the reverend wright who preached "G.. Damn america!Thats why for starters Nebraska should vote republican!!! My god obama has been a senator for 143 days! This makes him qualified over mccain? Or is it his black skin? Stop it Oct 2, 2008 10:56 AM These subsidies are a slap in the face of every Nebraskan. It's time for government to stop all of this bailing out/subsidizing of non viable... (Columbus Telegram, NE)
Obama And McCain On Small Business Oct 8, 2008
(An estimated three-fourths of small businesses pay their taxes through personal income taxes ... First, on taxes: Experts say at least three out of four small businesses pay taxes through the owner's personal income tax. (CBS News)
Big TV big draw at new Vann’s Oct 8, 2008
3 million retirees and disabled veterans who didn t have to file income tax forms this year have yet to file for the paperwork to receive their payments ... People who in April filed for six-month income tax extensions also have until the 15th to get their returns done and qualify for their stimulus payments. (Helena Independent Record, MT)
Start college loan search early Oct 8, 2008
529 Qualified State Tuition plans, where you save money for education expenses but don t pay federal income tax on interest earned. Go to the U.S. Securities and Exchange Commission (www. (Taylor Daily Press, TX)
Future Generali for retirement plans Oct 8, 2008
There is also a tax benefit under section 80 C and 10 (10D) of the Income Tax Act. Future Generali is targeting achieving 4 lakh policies in FY'09. (India Times)
Fannie-Freddie Fallout Oct 8, 2008
7 percent economic growth without inflation, cut the income tax rates, cut the corporate, cut the cap gains rate, and make America grow again. COLMES: All right. (Fox News)
How McCain fared Oct 8, 2008
-- McCain said "Sen. Obama's secret that you don't know is that his tax increases will increase taxes on 50 percent of small business revenue." The Tax Policy Center said 99 percent of small business filers in 2009 would not see their marginal income tax rates lifted under Obama's plan. Special interests: Said "there is too much special interests and too many lobbyists working there (in Washington)." His campaign manager, Rick Davis, is a former lobbyist. (San Francisco Chronicle -- Politics)
Economic Stabilization act full text (New version) Oct 8, 2008
(1) INCOME TAX CREDIT- Paragraphs (1)(A) and (2)(A) of section 40A(b) are each amended by striking 50 cents and inserting 1. 00. (Gillette News-Record, WY)
State to review Palin per diem payments Oct 8, 2008
"The income tax aspects of fringe benefits are complex and highly technical, and not subject to second-guessing by laymen," Olsen wrote in a three-page letter outlining his review of the returns. Palin listed 157 days spent in Anchorage during 2007 on her travel forms. (Juneau Empire)
MetLife Releases Third-Quarter Expected Results Oct 8, 2008
The results reflect a decline in variable investment income, which is expected to come in below plan by $117 million, net of income tax, or 16 cents per share. The company also said a nearly 9 percent decline in the Swould shave about $105 million, net of income tax, or 14 cents per share, from its quarterly results. (ABC News -- Wire)
Fulbright & Jaworski rehires Treasury Department senior counsel as partner Oct 8, 2008
Before leaving Fulbright & Jaworski for the Treasury Department, Bowers mainly focused on areas such as federal income tax planning for complex business transactions. Bowers, a graduate of the Sothern Methodist University Dedman School of Law, also has a Masters of Taxation from Georgetown and serves as an adjunct professor at Georgetown and the. (Dallas Business Journal, TX)
Oregon ranks 9th for business tax climate Oct 8, 2008
For the past six years, the group has published an annual ranking of states based on the taxes that matter most to business: corporate tax, individual income tax, sales tax, unemployment tax and property tax. Oregon consistently has made the top 10 largely because the state charges no sales tax. (KGW Northwest NewsChannel 8, OR -- Business)
Fail Me Once, Shame on You Oct 8, 2008
Hagan also voted multiple times against a decrease of the personal income tax rate. Its no surprise Hagan needed to keep taxes high, because during her stint as the state Budget Committee Chairwoman, state spending increased by 64% or $8. (Townhall.com)
Twice As Many Rich Escape U.S. Tax Oct 8, 2008
The number of Americans earning $200,000 or more who paid no federal income tax more than doubled in 2005, just-released Internal Revenue Service numbers show ... In 2005, 7,389 high adjusted-gross-income (AGI) return filers paid no U.S. income tax, up from just 2,833 in 2004 ... Expatriates can reduce or wipe out their regular U.S. income tax bills by claiming a credit for the foreign taxes they must pay. (Yahoo News -- Taxes and the IRS)
Rebate checks diverted to pay $2B in debts Oct 8, 2008
Also, Mississippi hasn't joined yet, and California doesn't submit the names of income tax debtors. So while Maryland has collected $6 million from rebate checks for unpaid state income taxes, California has received nothing. (Yahoo News -- Taxes and the IRS)
Consumers Taking Out Fewer Instant Tax Loans Oct 8, 2008
But low-income taxpayers still lose hundreds of millions in unnecessary costs ... As tax season draws to a close, another year has passed in which tax preparers and their partner banks drained hundreds of millions of dollars from refunds by selling refund anticipation loans (RALs), mostly to millions of working families who get the Earned Income Tax Credit (EITC). (Yahoo News -- Taxes and the IRS)
Cedar Valley partisans say debate was a draw Oct 8, 2008
Molly Grady, a sophomore at UNI, said she was frustrated by McCain's persistent accusation that Obama will raise taxes on the average American, because Obama proposes providing income tax cuts for more Americans than McCain's tax plan. But in giving her final grade, Grady called it a draw. (Waterloo-Cedar Falls Courier)
'Taxachusetts' Voters May Eliminate State Income Tax Oct 8, 2008
Taxachusetts' Voters May Eliminate State Income Tax ... BOSTON For years, Massachusetts was known derisively as "Taxachusetts." But voters could help shed that label in November by completely eliminating the state's income tax in a single stroke ... Others include a North Dakota initiative to cut individual income tax rates in half and trim corporate rates by 15 percent; an Arizona measure to mandate that any initiatives requiring spending or tax increases be approved by majority of all... (Fox News -- Politics)
Hoeven proposes preschool aid, child care grants Oct 8, 2008
He said he has favored a state income tax credit for child care expenses. "It doesn't matter if child care is available if working parents can't afford it," he said. (Bismarck Tribune, ND)
Post-debate polling favors Obama over McCain Oct 8, 2008
airhead wrote on Oct 8, 2008 7:42 AM:" to follow the const: If Obama only made a few phone calls how did he try to slip $20 billion in the package. Which is correct or should I say is either correct? Time is winding down and McCain and Palin are starting to say and not say some interesting things. Maybe some people should listen to what they are saying they will do. The worst in my book is taking healthcare away from businesses and given everyone a $5,000 tax cut to pay for it. Who writes out a... (The Pantagraph newspaper)
Analysis: Punches but no knockout Oct 8, 2008
Obama charged that McCain was eager to allow the nation s millionaires to continue enjoying the low income tax rates that the Bush administration pushed through Congress in 2001 and 2003. McCain insisted that he wasn t cutting taxes for anyone, only allowing those rates, which are scheduled to expire on Jan. 1, 2011, to continue. (Atlanta Journal-Constitution)
Nashville townhall, the aftermath Oct 8, 2008
I am not for a totally unregulated society Neal, I understand the need for safeguards - but, I don t understand how we are at a position where we have one political party trying to create a shift where the bottom 55% or so of all citizens pay NO income taxes - that leads to an ability to push any tax increase that you want on the remaining 40% or so of wage earners with virtually no fear of retribution ... I know wealthy democrats too - most of them have earned their money already and have no... (Atlanta Journal-Constitution)
Vote no on Question 1 Oct 8, 2008
When we vote on Nov. 4, not only will we choose the next president, but we also will have to decide Question 1, which asks whether the state income tax should be repealed ... Repealing the income tax, however, would strip the state of over $12 billion in funding, or 40 percent of its operating budget, when the Commonwealth can least afford it ... While we are understandably concerned with the country s economic crisis, along with the allocation of the state s budget, an outright repeal of the... (Wakefield Observer, MA)
Slowing economy hitting state tax revenues Oct 8, 2008
Corporate income tax revenue fell 8 ... This was the fourth straight drop in corporate income taxes. (MSNBC -- Business)
Can Harper turn it around? Oct 8, 2008
He did not mention that the Liberal carbon tax is to be accompanied by matching income tax cuts. Mr. Harper defended his record, saying the Tories have already t 00001BF8 aken significant action and don't see a way to extend a lifeline to those who have lost money in the huge stock market selloff. (Globe and Mail)
Deadline for getting stimulus check looms Oct 8, 2008
com More than 100,000 Georgians who did not fill out income tax returns last year are eligible for federal economic stimulus checks but need to fill out a tax form by next Wednesday ... More than 100,000 Georgians who did not fill out income tax returns last year are eligible for federal economic stimulus checks but need to fill out a tax form by next Wednesday ... Ellison's Income Tax Service at Triangle Plaza and on Prince Avenue will offer free help filling out the forms to walk-ins and by... (Athens Banner-Herald)
In 112th District:Hovey Makes Reelection Bid Oct 8, 2008
This would mean no sales tax on the final product, no sales taxes on equipment required to produce alternative energy, no corporate and no income tax for non-corporation business owners. "If the state is going to seriously promote alternative energy sources, then we have to do a lot more than talk about it," Rep. (Voices, CT)
Obama's Tax Plan: Welcome to 1929 Oct 8, 2008
-- Obama proposes to increase the top individual income tax rate by 13% and the second individual income tax rate by 10 ... Under the Obama tax plan, their marginal income tax rate alone climbs to 39 ... State income taxes raise the total to close to 50%, over 50% in higher tax states like New York and California. (Human Events Online)
Economy tops state rep debate Oct 8, 2008
One of the state ballot questions in November will ask voters to eliminate the state income tax. I cannot emphasize how strongly opposed to this I am, said Peake, who said it would require severe budget cuts, especially to local aid. (Harwich Oracle, MA)
Franchisors warned: open your books Oct 8, 2008
This is likely to include giving the ACCC power to audit Franchising Code compliance on an ongoing basis in much the same way that the Australian Taxation Office audits compliance with income tax laws. It may surprise some to know that currently the ACCC is only able to investigate a franchisor if there is a belief that there may have been a breach of the Code. (Sydney Morning Herald -- Business)
Commentary: McClure believes these times call for real change Oct 8, 2008
3 percent income tax, taking away $12 ... Advocates of the ballot initiative point to the Legislature s blatant disregard of an earlier, voter-approved tax rollback (of the state income tax from 5. (Chelmsford Independent, MA)
VICE-PRESIDENTIAL PROBE: State to review Palin per diem payments, taxes Oct 8, 2008
"The income tax aspects of fringe benefits are complex and highly technical, and not subject to second-guessing by laymen," Olsen wrote in a three-page letter outlining his review of the returns. Palin listed 157 days spent in Anchorage during 2007 on her travel forms. (USA Today)
FACT CHECK: Debate claims in context Oct 8, 2008
8 billion" on a military contract between Boeing and the Defense Department to lease refueling tanker planes to the Air Force. The facts: McCain was a chief congressional critic of Boeing's plan, which was killed in 2003. McCain used the $6.8 billion figure in last month's debate and in an interview on CBS' 60 Minutes, where he said the lease deal would have cost $6.8 billion more than it should have. At the time, however, the Congressional Budget Office estimated leasing the planes would cost... (USA Today)
Stimulus payment still unclaimed by thousands of Alabamians Oct 8, 2008
The economic stimulus payment will not have any impact on retirees eligibility for Medicare, Medicaid or other benefits and the stimulus will not be counted as income or require the recipients to file future income tax returns. Earlier this year, President Bush approved a $168 billion economic stimulus package to help bolster spending in the economy. (Birmingham Business Journal, AL)
IRS eases tax rules on U.S. firms with foreign units Oct 8, 2008
The IRS temporarily expanded a 1988 ruling allowing corporations to borrow money held by foreign subsidiaries without having to pay the 35 percent corporate income tax. We were recognizing that there were liquidity restraints for companies during the current credit crisis, Treasury Department spokesman Andrew DeSouza said Tuesday. (San Diego Union-Tribune -- Business)
Tax revenues dropping across U.S. Oct 8, 2008
The report laid much of the blame on the troubles on Wall Street and on tax structures in many states that rely on most personal income taxes to come from the wealthiest citizens ... Income tax collections grew 6 ... Sales taxes, corporate income taxes and fuel taxes all dropped in the second quarter of this year, the report found. (Buffalo Business First, NY)
IRS offers loan break for businesses Oct 8, 2008
The IRS temporarily expanded a 1988 ruling allowing corporations to borrow money held by foreign subsidiaries without having to pay the 35 percent corporate income tax. The revision extends the period for paying back such loans from 60 to 180 days. (San Jose Business Journal, CA)
Schwarzenegger Warns of More Cuts Oct 8, 2008
In addition to sales tax, the state's budget relies on state income tax and capital gains taxes, which are the stock market affects. As the economy worsens, some lawmakers fear the state could face another multibillion-dollar deficit next year. (Newsmax)
Faltering state budget concerns Schwarzenegger Oct 8, 2008
In addition to sales tax, the state's budget relies on state income tax and capital gains taxes, which are affected by the stock market. As the economy worsens, some lawmakers fear the state could face another multibillion dollar deficit next year. (San Diego Union-Tribune)
How can Nebraska possibly vote Republican? Oct 7, 2008
People here don't want to elect a known supporter of radical american haters like the weatherman underground or the reverend wright who preached "G.. Damn america!Thats why for starters Nebraska should vote republican!!! My god obama has been a senator for 143 days! This makes him qualified over mccain? Or is it his black skin? Stop it Oct 2, 2008 10:56 AM These subsidies are a slap in the face of every Nebraskan. It's time for government to stop all of this bailing out/subsidizing of non viable... (Columbus Telegram, NE)
Acquitted man seeks recompense from state Oct 7, 2008
As proof, he filed an IRS income tax return for 2007, declaring total income of $8,200 - that was signed on July 25, 2008. But Suffolk District Attorney Daniel F. Conley's office also filed papers signed by Aldrich in which he claimed little or no income to qualify for his lawyer. (Boston Globe)
Income tax is crucial, report says Oct 7, 2008
If voters abolish the state income tax next month, the state would be forced to slash most agency budgets by more than 70 percent, according to a report by the Massachusetts Taxpayers Foundation that is scheduled to be released today ... 5 billion raised annually by the income tax include State Police, district attorney offices, courts, prisons, state parks, the Registry of Motor Vehicles, mental health services, and environmental programs, said Michael J. Widmer, president of the foundation ...... (Boston Globe)
Big TV big draw at new Vann’s Oct 7, 2008
3 million retirees and disabled veterans who didn t have to file income tax forms this year have yet to file for the paperwork to receive their payments ... People who in April filed for six-month income tax extensions also have until the 15th to get their returns done and qualify for their stimulus payments. (Helena Independent Record, MT)
RPM Announces Form 4 Filings Oct 7, 2008
The 2004 Plan requires the mandatory withholding of that portion of the stock needed to pay the minimum federal, state and local income tax obligations of these officers with respect to the vested stock. Accordingly, the Form 4s filed today report the withholding of such stock as a disposition of the stock to the company to pay tax obligations. (PR Newswire)
Ohio slips in annual Tax Foundation ranking Oct 7, 2008
The state drew the worst marks for its individual income tax rate, placing No. 47 when stacked against other states ... The foundation said that while the full effect of the CAT won t be known for at least another year, it expects Ohio s rank for individual income taxes to improve as rates continue to fall through 2010, the result of 2005 legislation from the Taft administration that phased in a 20 percent cut over five years ... Improvement in that ranking, however, could be muted by extensive... (Columbus Business First, OH)
IT grievances to be registered online Oct 7, 2008
Income Tax grievances to be registered online- Tax News-Tax Savers-Personal Finance-The Economic Times ... Income Tax grievances to be registered online7 Oct, 2008, 1033 hrs IST, PTI ... The facility will soon be available on the official website of the Income Tax (IT) department, with the completion of the trial run of this maiden initiative in the next few months. (India Times)
Just wondering ... Oct 7, 2008
NO ONE DISCRIMINATES wrote on Oct 3, 2008 10:11 AM:" like the government. Government gives money to those who have children out of wedlock, earned income tax credit, free college, force businesses to raise minimum wage and it's alway at the expense of the LOWER middle class. These are just a FEW examples of government discriminating. ". Live within your means wrote on Oct 3, 2008 10:00 AM:" No--and they shouldn't. You have gotten yourself into debt, why should the gov't help you out of a... (Sioux City Journal, IO)
Economic Stabilization act full text (New version) Oct 7, 2008
(1) INCOME TAX CREDIT- Paragraphs (1)(A) and (2)(A) of section 40A(b) are each amended by striking 50 cents and inserting 1. 00. (Gillette News-Record, WY)
Couch sentenced to prison Oct 7, 2008
Sperling added, "Count one of the information charged that the defendant, while superintendent of the Marble City School District, embezzled and converted to his own use, property over the value of 5,000. The embezzled money was under the care of the Marble City School District, which received more than 10,000 in federal funding. "Count two," Sperling said, "stated that the defendant, a resident of the Eastern District of Oklahoma, subscribed a false 1040 U.S. Individual Income Tax Return, under... (Sallisaw Sequoyah County Times, OK)
Texas tax system earns praise Oct 7, 2008
The scores take into account corporate tax, individual income tax, sales tax, unemployment tax and property taxes. The states are scored on these taxes, and the scores are weighted based on the relative importance or impact of the tax to a business. (Dallas Business Journal, TX)
Consumers Taking Out Fewer Instant Tax Loans Oct 7, 2008
But low-income taxpayers still lose hundreds of millions in unnecessary costs ... As tax season draws to a close, another year has passed in which tax preparers and their partner banks drained hundreds of millions of dollars from refunds by selling refund anticipation loans (RALs), mostly to millions of working families who get the Earned Income Tax Credit (EITC). (Yahoo News -- Taxes and the IRS)
Twice As Many Rich Escape U.S. Tax Oct 7, 2008
The number of Americans earning $200,000 or more who paid no federal income tax more than doubled in 2005, just-released Internal Revenue Service numbers show ... In 2005, 7,389 high adjusted-gross-income (AGI) return filers paid no U.S. income tax, up from just 2,833 in 2004 ... Expatriates can reduce or wipe out their regular U.S. income tax bills by claiming a credit for the foreign taxes they must pay. (Yahoo News -- Taxes and the IRS)
Rebate checks diverted to pay $2B in debts Oct 7, 2008
Also, Mississippi hasn't joined yet, and California doesn't submit the names of income tax debtors. So while Maryland has collected $6 million from rebate checks for unpaid state income taxes, California has received nothing. (Yahoo News -- Taxes and the IRS)
Candidates differ on Pike tolls, income tax Oct 7, 2008
In their first debate since the primary, gulfs emerged last night between the 8th Middlesex's state representative candidates on Turnpike tolls and a ballot question to repeal the state's income tax ... Regarding the ballot question on the state income tax, Haley firmly said he would vote to repeal it Nov. 4, after suggesting he would do so in his August debate with Dykema ... Dykema opposed the ballot question on the state income tax. (Holliston Tab, MA)
North Dakota is not like Alaska Oct 7, 2008
Morse talked about a need for property tax relief, income tax relief and assistance for potential hardship this winter ... Just Curious wrote on Oct 1, 2008 11:16 AM:" To: To Grumpy Old RepublicanActually, you are incorrect. The measure does not take "excess" oil revenues and save them for a rainy day. It caps the state at how much of the revenue can be used. This is very different.I believe the current use of oil revenue is somewhere around $160 million bucks, the measure would cap this at $100... (Bismarck Tribune, ND)
Testudo Oil & Gas Exploration Ltd.: Qualifying Transaction Oct 7, 2008
Antler Creek proposes to close a private placement to raise between $2,500,000 ("Minimum Financing") and $8,000,000 ('Maximum Financing"). Antler Creek proposes to sell up to 4,000,000 Antler Creek Shares (with flow thorough attributes) at $1.00 per Antler Creek Share. Antler Creek proposes to sell up to 4,000,000 Antler Creek Units at $1.00 per Unit (post-consolidation). Each Antler Creek Unit consists of one (1) Antler Creek Share (without flow-through attributes) and one common share purchase... (CCNMatthews Press Releases)
Our view: Budget deficit should prompt consolidation Oct 7, 2008
But now that income tax revenues from Fairfield County are shrinking, the legislature and governor are forced to cut or raise taxes even more ... As the tax burden grows, less money is invested back into Connecticut's economy, fewer jobs are created, income levels drop and income tax revenue shrinks. (Middletown Press, CT)
0 comment(s) Oct 7, 2008
Orcutt, Fant differ over merits of state income tax ... Does Washington need to consider an income tax ... Orcutt said previous studies have found income tax more volatile and that it could lead to increased local property taxes. (Longview Daily News, WA)
Weathering the Downturn Oct 7, 2008
When you convert a traditional IRA to a Roth, you owe ordinary income tax on every dollar you roll over (unless youve made nondeductible contributions to the account). Fewer dollars in your account spells a smaller tax bill. (SmartMoney)
Archbishop criticizes governor on abortion Oct 7, 2008
greenmoira wrote on Oct 3, 2008 10:11 AM:" Reply to JMS: If you're going to retort at least make it applicable to my comments. Address my points, not your own agenda items, Re: your 2nd point - Many laws are in effect that were not popular with the citizenry (i.e. Income Tax laws, military draft). In addition, popular doesn't necessarily equate correct or moral. ". Member ID. (Corvallis Gazette Times, OR)
CHART 3: How 3 model portfolios fared Oct 7, 2008
Interest from tax-free funds, which invest in short-term municipal obligations, are free from federal and, in some cases, state income tax. That makes up for the lower yield, particularly for those in the top tax brackets. (USA Today -- Money)
QLogic to Announce Second Quarter Results Oct 7, 2008
The company advises readers that these potential risks and uncertainties include, but are not limited to: potential fluctuations in operating results; gross margins that may vary over time; revenues may be affected by changes in IT spending levels; the stock price of the company may be volatile; the company's dependence on the storage area network market; potential adverse effects of server virtualization technology on the company's business; potential adverse effects of increased market... (Primezone Releases)
Tax Foundation: Ohio among 10 worst for business taxes Oct 7, 2008
Ohio ranked worst for individual income tax at 47th. It was 33rd for corporate income tax, 37th for sales tax, 15th for unemployment insurance tax and 44th for property tax, according to a background paper from the foundation. (Cincinnati Business Courier, OH)
How can Nebraska possibly vote Republican? Oct 6, 2008
People here don't want to elect a known supporter of radical american haters like the weatherman underground or the reverend wright who preached "G.. Damn america!Thats why for starters Nebraska should vote republican!!! My god obama has been a senator for 143 days! This makes him qualified over mccain? Or is it his black skin? Stop it Oct 2, 2008 10:56 AM These subsidies are a slap in the face of every Nebraskan. It's time for government to stop all of this bailing out/subsidizing of non viable... (Columbus Telegram, NE)
