South San Francisco is poised to add its business license tax updates to the ballot this November which, if passed, would increase the share paid by large firms and bring in an estimated $3.4 million.The city’s BLT currently comprises about 1.9% of its total general fund revenue, compared to the 4% to 5% median rate … Read more
Canadian employees stand to greatly benefit from making EOTs widely available, says Simon Pek, an associate professor of business and society at the University of Victoria’s Gustavson School of Business, and a co-author of the report.Read: Feds’ new tax exemption could drive more employers to leverage employee ownership trusts: expertAmong the policies raised in the report, … Read more
As former President Donald Trump prepared to meet with top corporate CEOs on Thursday, an analysis estimates that the GOP frontrunner’s proposed giveaway to the nation’s most profitable corporations would exceed the size of the federal K-12 budget for the current fiscal year. Conducted by Brendan Duke and Will Ragland of the Center for American … Read more
Accounting firms and associations are emphasizing the importance of addressing the rising cost of business and undertaking tax reform ahead of the federal budget release. RSM Australia is advocating for the permanent incorporation of business loss carry back offset rules into Australia’s income tax regime to encourage investment and bolster business resilience.
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.
Georgia residents have reason to celebrate as Gov. Brian Kemp approved 0 million worth of tax relief measures for individuals and businesses. It is estimated that Georgia taxpayers could save about .1 billion by 2024 and billion over the next ten years.
Experts say the proposals for reparations to black descendants of slaves in California, which include subsidized property taxes and expedited business licenses, may be unconstitutional due to violating guarantees of equal treatment of citizens regardless of race.
The average price of fuel in Cyprus has increased by 4.5 cents per litre for petrol, 1.3 cents per litre for diesel, and 0.4 cents per litre for heating oil following the termination of the government’s reduced tax measure. Gasoline prices had already increased by 8.3 cents per litre before the tax measure was lifted.