Time to Derail NJ TRANSIT Tax Talk
The governor of New Jersey broke his pledge by resurrecting a Corporation Business Tax surcharge under a new name to fund NJ TRANSIT as part of his billion FY25 state budget proposal.
Companies
More for Them, Less for Us
Fact: Many major U.S. companies are paying their top executives more than they’re paying in federal income taxes.
Missouri House again votes to cut corporate income taxes. Democrats call it a giveaway
The Missouri House passed a bill repealing the corporate income tax, reducing the tax rate from 4% to 3% on Jan. 1 and eliminating it by 2028. The bill would reduce state revenues by at least 4 million when fully implemented.
LG Group to invest $74.4 bln over next 5 years
LG Group will invest 100 trillion won (.42 billion) within South Korea over the next five years, with half of the investment allocated to future technologies such as artificial intelligence, environmentally clean technology, batteries, auto parts, and next-generation displays.
Balancing Uncle Sam’s Checkbook: Biden’s Tax Proposals | JD Supra
Fact: President Biden’s Fiscal Year 2025 Budget Proposals include new tax proposals such as increasing the corporate alternative minimum tax, increasing the excise tax rate on corporate stock repurchases, limiting corporate tax deductions for certain salaries, increasing the tax cost of private jet usage, limiting benefits for private placement life insurance, expanding the 10% shareholder exclusion from the portfolio interest exemption, and requiring controlled foreign corporations’ taxable year to match the year of its majority U.S. shareholder.
Drivers rush to fill up, as petrol prices set to go up
Increased traffic was observed at petrol stations on Saturday ahead of the termination of the measure to reduce the special consumption tax from Monday, 1st April.
AKEL criticises government over infaltion
The AKEL party criticized the government for not implementing effective measures against inflation and for refusing to implement a social support package despite having increased state revenues. The party also accused Mr. Christodoulides of prioritizing big economic interests over the state’s finances by not taxing windfall profits of banks and energy companies as previously promised during the election campaign.
Canada’s mild winter disrupts key ice road to remote Arctic diamond mines
An unusually warm winter in Canada has delayed the opening of a 400-kilometer ice road used by mining companies to access their diamond mines in the Arctic. The delay is the longest in recent years and is due to climate change and the El Nino climate pattern. The warm winter could risk an early closure of the ice road, impacting the transportation of goods to the mines. The lack of infrastructure in the region is a challenge, and mining companies are pushing for a mega infrastructure project to unlock the mineral riches in the area.
Petrol stations packed as motorists beat price hike
– Petrol stations were packed as motorists rushed to fill up their tanks before the reduced tax measure ends on April 1.
– More price hikes are expected soon due to increasing fuel prices on the international market.
– Prices have already gone up 2 to 3 cents, varying across different companies.
– The subsidy on fuel consumption tax will end on Monday, resulting in an 8.3 cent hike per litre on petrol and diesel and 6.4 cents on heating oil.
Football giants edge closer to own stadium
APOEL Nicosia has entered into a €35 million deal with US-based Cypriot investor Constantine ‘Dinos’ Iordanou to build their own stadium in Kokkinotrimithia.