LITTLE ROCK (KATV) — The most recent reduction in tax was in the General Assembly’s Special Session in June of this year. The top corporate tax was reduced from 4.8% to 4.3%, as well as the individual income tax rate being reduced from 4.9% to 3.9%.The Arkansas General Assembly and Governor Sanders have passed three … Read more
Created: Jul 19, 2024 07:25 AM The creation of a new tax agency to deal with the upcoming Corporate Income Tax is to go before MPs today in the House of Assembly.A long debate can be expected over the momentous legislation, which includes the penalty of a $100,000 fine and up to two years’ imprisonment … Read more
July 18, 2024 July 18, 2024 State lawmakers across the country navigated budget challenges and slowing revenue growth in 2024. This challenge was made worse by the winding down of temporary federal pandemic aid, coinciding with deep, permanent tax cuts. The impact of those tax cuts becomes clearer as they weigh on the ability of … Read more
The incidence and distributional effects of changes to the corporate income tax—like those in the 2017 Tax Cuts and Jobs Act—are one of the most hotly contested issues in economic policy. The debate often follows a familiar script: Republicans claim that rank-and-file workers benefit while Democrats argue that affluent shareholders reap the gains. In a new paper, … Read more
Finance Minister Gilles Roth has unveiled details of a package of tax cuts that will cost the state around €500 million a year from 2025, including reductions to personal and corporate taxes, tax credits for single parents and financial incentives for expats.The government has approved plans to adjust tax brackets by 2.5 indexations or 6.4% … Read more
The State of Georgia’s net tax collections in June approached a total of $3.03 billion, for an increase of $185.4 million or 6.5 percent compared to FY 2023, when net tax collections totaled $2.84 billion for the month. Year-to-date, net tax revenue totaled almost $32.95 billion, for a decrease of $182.2 million or 0.5 percent … Read more
Placing Biden and Trump Tax Proposals in Historical Context Skip to content Home • Blog • Placing Biden and Trump Tax Proposals in Historical Context calling the 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, … Read more
Live from Milwaukee on Tuesday, Fox Business Network’s “The Bottom Line With Dagen & Duffy” show discussed Donald Trump and JD Vance’s opposition to tax increases, in contrast with high-tax Joe Biden and Kamala Harris. ATR President Grover Norquist noted that Vance understands working households get stuck paying the burden of the corporate tax in … Read more
As Kentucky looks to grow its economy, the business community has successfully advocated for many priorities to create a more competitive tax system to help the state become more attractive for businesses and workers. Dr. Charles Aull, Executive Director for the Kentucky Chamber Center for Policy and Research, and Kevin Fuqua, CPA, Regional Service Tax … Read more
The New Jersey Division of Taxation should have allowed Euromin Inc. to carry forward over $828,000 in corporation business tax credit because the energy trading company and a partnership it bought aren’t a unitary business, the company alleges.Euromin “acquired its interest in the Partnership as an operational asset to increase the net gains and earnings … Read more