Politics / June 25, 2024 Yes, they disagree on Gaza. But the Democratic primary rivals are also far apart when it comes to taxing billionaires and multinational corporations. Ad Policy Jamaal Bowman and George Latimer during a debate on May 13, 2024.(News12) Media coverage of Tuesday’s Democratic primary battle between US Rep. Jamaal Bowman—the progressive … Read more
UK Full Expensing: Understanding UK Capital Allowances Policy Skip to content Home • Blog • Understanding Full Expensing in the United Kingdom United Kingdom is nearing snap elections on July 4, 2024, and taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the … Read more
“Just the FACTs” is a round-up of news stories and information regarding efforts to combat corrupt financial practices, including offshore tax haven abuses, corporate secrecy, and money laundering through the financial system. Send feedback or items for future newsletters to Thomas Georges at tgeorges@thefactcoalition.org Here is the State of Play FACT Calls on Congress to … Read more
While news broke over the weekend that Gov. Phil Murphy and legislative leaders agree that the FY25 State Budget will include a 2.5% Corporate Transit Tax, many critical questions remain for New Jersey’s business community. This week, NJBIA looks at just a few of them that will need to be answered before the budget is … Read more
The outcome of the 2024 presidential election will trigger a “colossal multi-trillion-dollar fight over taxes,” said Semafor. Big chunks of Donald Trump’s 2017 tax cut law will expire in 2025, giving whoever wins the election — both the White House and Congress — “the opportunity to rewrite much of the IRS code.” Trump hasn’t officially … Read more
Shareholders at three of the world’s largest oil companies recently turned down tax transparency proposals from an activist investor. At Chevron, a proposal to publicly report the company’s earnings and tax bills in every country where it operates was defeated on May 29; 85% of votes were against the proposal. The shareholders followed recommendations from … Read more
Sales tax compliance is a bit of an unknown quantity in the US. Calculating the tax gap—the difference between taxes collected and taxes owed—in sales and use tax is much more difficult than the income tax gap. For income tax, there are secondary sources of information available from employers; in sales tax, there is no … Read more
A tax tweak may have helped keep R.I.’s biggest bank from decamping for Massachusetts A Citizens Bank branch, Thursday, Nov. 17, 2022, in Boston. (AP Photo/Charles Krupa)Charles Krupa/Associated Press tweak state tax policy to help the big bank?We’ll never know for sure. But it’s a hot topic in Rhode Island’s political and business circles.House Speaker … Read more
Sen. Bernie Sanders, I-Vermont, and Ed Markey, D-Massachusetts, are introducing legislation in the Senate to impose a 95% windfall tax on the excess profits of large corporations that are overcharging for the products they sell.The Ending Corporate Greed Act would have raised an estimated $300 billion in 2023 from 10 of the largest corporations alone. … Read more
With a battle over congressional Republicans and former U.S. President Donald Trump’s 2017 tax law brewing, a progressive think tank on Monday published an analysis that points to the surge in stock buybacks as proof that federal policymakers should raise the corporate tax rate. When Trump—the presumptive GOP nominee to challenge President Joe Biden in … Read more