An exterior view of the Supreme Court on June 20, 2024 in Washington, DC. Andrew Harnik | Getty ImagesIn a closely watched case, the Supreme Court on Thursday denied a challenge to a federal tax on certain foreign investments — but left questions about whether a wealth tax is constitutional.The case, Moore v. United States, focused … Read more
OPINION ANALYSIS By Amy Howe on Jun 20, 2024 at 1:58 pm The court issued four opinions on Thursday. (Katie Barlow) The Supreme Court on Thursday upheld a provision of a 2017 corporate tax reform law, known as the mandatory repatriation tax, that taxes the undistributed profits from U.S. shares of foreign corporations in which … Read more
Amid a sharp rise in personal income tax collection, individual taxpayers are hoping for respite in the Union Budget 2024-25 and indications are that the government may look at reviewing some of the tax rates.According to sources, one of the measures being considered is to increase spending capacity of people in the face of high … Read more
Former President Donald Trump last week spoke to CEOs about cutting the corporate income tax rate. President Joe Biden, in contrast, wants to increase the rate. Because Trump’s announcement came before the Business Roundtable, it’s being interpreted as pandering to corporate America. That’s fair enough. But Biden’s counter — a higher corporate tax rate — … Read more
The Oregon Capitol in Salem. (AP Photo/Jenny Kane, File) PORTLAND, Ore. – Oregon voters will likely decide in November whether to establish a historic universal basic income program that would give every state resident roughly $750 annually from increased corporate taxes.Proponents of the concept say they likely have enough signatures to place it on the ballot … Read more
Republic Act No. 12001 has been signed into law by President Ferdinand Marcos Jr. This new law is called the Real Property Valuation and Assessment Reform Act (RPVARA). Simply put, the RPVARA seeks to provide a uniform valuation for real properties in the country. It also creates the Real Property Information System, which shall maintain … Read more
PORTLAND, Ore. — An Oregon ballot initiative wants to raise corporate taxes in order to help put more money in every Oregonian’s wallet – money that’s non-taxable and doesn’t affect income benefits. If passed, the income program would give every resident in the state, including children, an estimated $750 annually from corporate taxes.The idea is … Read more
NBC — Former President Donald Trump on Tuesday said that business executives and shareholder representatives should “be 100% behind” him or face termination.“Business Executives and Shareholder Representatives should be 100% behind Donald Trump! Anybody that’s not should be FIRED for incompetence!,” the former president wrote in a post on his social media website, Truth Social.His … Read more
ANI | Jun 18, 2024 07:58 PM IST Share Via Copy Link The increase in both personal income and corporate tax collections points towards a growing corporate sector and higher income levels among individuals. The Ministry of Finance has announced a robust growth in India’s direct tax collections for the financial year 2024-25, with net … Read more
Former President Donald Trump huddled with congressional Republicans Thursday in his first visit to Capitol Hill since the partisan violence of January 6, 2021. Then he reportedly promised a Business Roundtable gathering of CEOs that he would cut the corporate tax rate to 20% if he wins another term in the White House.The 2017 Republican … Read more