Democratic leaders in the Oregon House and Senate have come out swinging against a November ballot measure that would hike taxes on corporations to send checks to every Oregonian. Top Democrats in the House and Senate joined their Republican colleagues and Gov. Tina Kotek in opposing Measure 118, also referred to as the Oregon Rebate. … Read more
Around 24% of all tax payments in Israel were from companies and wages in the hi-tech sector in 2020 and hi-tech employees made around 36% of all income tax payments in 2021, said Israel’s Innovation Authority in a report released Tuesday. This highlights the centrality of this sector in Israel’s economy, the authority emphasized, saying … Read more
Nearly 75% of cannabis businesses operate at a loss, and many in the industry point to a feature of the Internal Revenue Code as the reason why.Listen here and subscribe to Talking Tax on Apple Podcasts, Spotify, Megaphone, or Audible.Cannabis companies are prohibited from deducting ordinary business expenses—like rent or payroll—from their federal taxes as … Read more
Joan McGuireIP 17 already has opponents including business groups and Gov. Kotek. Share this article!A proposal on the November ballot that would pay each Oregonian $750 per year has gained a few high-profile critics including a prominent business organization and the state’s Democratic governor.Initiative Petition 17 would significantly raise corporate taxes to fund a one-of-a-kind … Read more
Lavly Perling, chair of the nonparliamentary Parempoolsed, is critical of the messages conveyed in the new coalition agreement and says that the corporate income tax being introduced will not be good for the economy. “Parempoolsed tend to be critical regarding this, in terms of both content and their messages, which certainly don’t provide predictability to … 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
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
Georgia continues to see healthy tax revenues coming into state coffers. According to Governor Brian Kemp’s office, net tax revenue for June came in at $3 billion, a 6.5% increase from June 2023.Much of that growth was driven by a nearly 32% increase in money from corporate taxes. State officials issued less in corporate tax … Read more
3-minute read Audrey Lane | Special to the USA TODAY NetworkI spent the days leading up to passage of this year’s New Jersey state budget at the Statehouse in Trenton. It was an eye-opening and, at times, frustrating experience. Our state’s economic and fiscal policies are resulting in deficit spending, and the process surrounding those policies … Read more
The proposal aims to protect the environment and promote sustainable development in line with the global trend of using tax policies to incentivise environmentally friendly practices. (Photo courtesy of pace.edu.vn) Hanoi (VNS/VNA) – The Ministry of Finance is proposing amendments to the Law on Corporate Income Tax to encourage environmental protection and sustainable development. These … Read more