(June 21): The US Supreme Court upheld a 2017 tax on American-owned businesses’ foreign profits, rejecting an appeal that could have saved companies hundreds of billions of dollars.Voting 7-2, the justices said Congress has the constitutional power to tax people and companies on their share of undistributed corporate income, at least when it comes to … Read more
NEW JERSEY (WABC) — New Jersey has a tentative agreement with the state’s most profitable companies to temporarily pay higher taxes to fund NJ Transit.Under the plan, the 600 corporations in the state that make at least $10 million a year in profits will pay a 2.5% tax on all earnings for five years.In return, … Read more
On the morning of October 7, 2023, I found myself reading the Economist when suddenly a message appeared on my phone. The Hamas terror attack in Israel was all over the news and I could hardly believe how such massive and despicable crime could have happened in our times, especially given Israel’s superior army, intelligence … Read more
Union Budget 2024: Industry leaders requested a host of considerations in the upcoming full Union Budget 2024 during their pre-Budget meeting with Finance Minister Nirmala Sitharaman on June 20. Expectations listed by India Inc. during the two-hour interaction include a reduction in the income tax burden for the common man, an increase in capital expenditure, … Read more
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
West Texas Intermediate (WTI) prices ticked lower in Asian trading on Friday, albeit lack follow-through and remain well within striking distance of the highest level since late April seen on Thursday. The US crude oilv currently trades around the $81.00/barrel mark and seems poised to register strong gains for the second successive week. Data published … Read more
As loyal Vault readers know, the lead-up for Washington to confront the expiring Trump tax cuts at the end of 2025 is in full swing. That’s already playing out at full speed in the lobbying world, giving a hint of the frenzy to come and the money on the line next year. Big business groups are springing into … Read more
The EURUSD pair weakened near 1.0730, snapping the three-day winning streak during early European trading on Thursday, with the upside for the pair seeming limited as investors are worried about political uncertainty in the Eurozone. Investors will closely watch the preliminary Eurozone and US Purchasing Managers Index (PMI) for June, which are due on Friday. … Read more
Gold is up around 12% year-to-date, but despite this impressive price jump, many investors are planning to continue to pile into the precious metal, according to the chief executive of a leading independent financial advisory and fintech. “There’s been a 35% year-to-date jump in clients seeking to increase their exposure to gold and a growing … Read more
Trump Income Tax and Tariff Proposals: Details & Analysis Skip to content Home • Blog • Five Things to Know about Trump’s Tariff and Income Tax Proposals Trump took his affinity for tariffs much further, floating the possibility of entirely replacing the federal income tax with new tariffs. He also raised other ideas like eliminating … Read more