dividend income

Nirmala Sitharaman says burden on middle class narrative ‘not based on facts’; clarifies real estate taxes

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Nirmala Sitharaman says burden on middle class narrative ‘not based on facts’; clarifies real estate taxes

Indian Finance Minister Nirmala Sitharaman on Wednesday (August 7) said “we heard the people” as she confirmed revised real estate indexation rules in the Parliament. With the relaxed rules, taxpayers will get more flexibility in calculating their long-term capital gains tax.”The amendment gives taxpayers a choice to calculate and see what works better for them. The current amendment … Read more

United States Tax Data Explorer

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United States Tax Data Explorer

The Tax Foundation’s International Tax Competitiveness Index (ITCI) measures the competitiveness of tax systems in 38 OECD countries based on low tax burdens on business investment and neutrality in tax codes.

Massachusetts risks losing $1B as wealthy flee for lower-tax states

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Massachusetts risks losing $1B as wealthy flee for lower-tax states

Massachusetts is in danger of losing nearly billion in annual revenue over the coming years due to high state taxes triggering an exodus of wealthy residents. Migration out of Massachusetts has seen a significant increase since 2013, with more than 39,000 people leaving the state. If the trend continues, more than 96,000 residents making a cumulative .2 billion in adjusted gross income will leave the state by 2030, costing Massachusetts about 1 million in income tax revenue each year. Residents cited high tax burden, expensive housing, and healthcare costs as reasons for relocating. Popular destinations for residents fleeing Massachusetts include Florida, New Hampshire, Maine, North Carolina, and Texas. Census data suggests a broader trend of residents moving from higher-tax states to states with lower taxes.