business groups

San Francisco’s plan to break the doom loop? Fix business taxes

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San Francisco’s plan to break the doom loop? Fix business taxes

A proposal to reform San Francisco’s business tax formula is being considered for approval by voters in November. The proposal would modify the gross receipts tax to focus on a company’s sales instead of its on-site headcount, potentially leading to tax cuts for small businesses and making it more attractive for large companies to keep their workers in the city. The plan is expected to be revenue neutral over time, with initial declines in business tax revenue before increases in the following years. The proposal would also raise the threshold for exemption from gross receipts taxes for small businesses. The effort to reform the tax structure has gathered momentum over the past year and has involved major San Francisco employers, labor unions, and other stakeholders in negotiations. Labor unions are not expected to actively oppose the measure’s passage.

Canada’s capital-gains tax change continues decades-old debate over economic growth and tax fairness

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Canada’s capital-gains tax change continues decades-old debate over economic growth and tax fairness

The fact described in the text is that Finance Minister Chrystia Freeland announced an increase in the capital-gains inclusion rate to 66 per cent for corporations and trusts, and for individuals on gains above 0,000, in order to raise nearly billion over five years to pay for housing initiatives.

Digital Taxation around the World

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Digital Taxation around the World

Digital Taxation around the World | Tax Foundation Skip to content taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. policies, a significant number of countries adopted unilateral tax measures targeted at digital businesses, … Read more

Vietnam’s Corporate Incentives to Offset Minimum Tax Too Limited

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Vietnam’s Corporate Incentives to Offset Minimum Tax Too Limited

Business groups in Vietnam are criticizing the government’s financial support plan to mitigate the effects of the global minimum tax on multinationals, calling it vague and limited to large projects. The plan includes direct cash support for investment costs, social infrastructure systems, training and development, and production of high-tech products. However, the definition of “high-tech” under the new law is unclear.

Murphy wants business tax to aid NJ Transit. Business group says use sales tax revenue

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Murphy wants business tax to aid NJ Transit. Business group says use sales tax revenue

NJ Transit’s board approved a fare increase of 15% on July 1 and 3% every year after that.

Murphy wants corporate tax to help NJ Transit, but business leaders say raise sales tax

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Murphy wants corporate tax to help NJ Transit, but business leaders say raise sales tax

NJ Transit’s board approved a fare increase of 15% on July 1 and 3% every year after that.

ANALYSIS | Do wealthy Canadians pay enough taxes? That depends how we define ‘fair share’ | CBC News

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ANALYSIS | Do wealthy Canadians pay enough taxes? That depends how we define 'fair share' | CBC News

The federal government announced an increase in capital gains taxes in the recent budget to ensure the wealthiest Canadians pay their fair share. The government plans to increase the inclusion rate of the capital gains tax for high-income earners. Data from the Fraser Institute and Statistics Canada show that high-income earners already pay a disproportionately large share of taxes. However, some argue that this data does not consider the totality of income inequality, with the wealthiest 20 percent of Canadians holding more than two-thirds of total net wealth.

Minnesota Legislature Weighs Corporations’ Role in State’s Economy

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Minnesota Legislature Weighs Corporations’ Role in State’s Economy

The Minnesota Legislature is considering several bills targeting corporations, including proposals to require large corporations to disclose their state income tax filings and to cap the number of single-family rental units a company can own. Rep. Esther Agbaje is pushing a bill that would cap the number of single-family homes one business entity can own, primarily corporations. Governor Tim Walz has stated that he is not interested in raising or cutting corporate taxes, but rather maintaining a proper balance. Minnesota has the highest corporate tax rate among the states, but the effective tax rate is lower due to deductions. Several bills are moving in the Legislature aimed at regulating corporations, including those related to single-family home ownership, tax transparency, hospital salaries, debt collection, corporate tax studies, health care acquisitions, and employee classification. Critics argue that the bills and underlying philosophy behind them are anti-business.

Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain | CBC News

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Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain | CBC News

The federal government’s budget includes an increase in the inclusion rate of the capital gains tax from 50% to 67% for businesses and trusts, generating an estimated billion in new revenue. This change will impact 40,000 individuals and 307,000 companies in Canada. Some members of the business community believe that expanding the taxable amount will hurt productivity, investment, and entrepreneurship in Canada, potentially leading to a brain drain.

Capital gains are going to be taxed more, and these economists say it’s a good thing

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Capital gains are going to be taxed more, and these economists say it's a good thing

Canada’s wealthiest individuals and corporations will soon pay taxes on a larger share of capital gains, with the federal budget proposing to tax two-thirds rather than one-half of capital gains. The increase in the inclusion rate will apply to capital gains above 0,000 for individuals and all capital gains realized by corporations. The changes are expected to generate over billion in tax revenues over five years and will help fund new spending on housing and national defense. Business groups are opposed to the changes, arguing that they will hurt economic growth and productivity, but economists believe that the changes will make the tax system more efficient and level the playing field for businesses. Prime Minister Justin Trudeau defended the tax change as a matter of fairness, with the additional revenues helping to fund new government spending and keep the deficit at bay.