Budget should reflect PMs call for 1Malaysia Oct 22, 2009
To compensate for the loss of revenue due to lower income and corporate taxes, the much delayed value-added tax (VAT), which is an indirect tax, could be introduced. Thus only those who buy goods that bear a VAT need to pay the tax. (The Star Online, Malaysia)
Poll shows Illinoisans want big budget cuts but oppose trimming in many areas Oct 22, 2009
NeoCon Academician wrote on Oct 21, 2009 6:31 PM:" #1Of those states which impose an income tax, the lowest maximum rate is that of Illinois-----------------And now the rest of the story...In 2009, Illinois taxpayers had to work until April 13 to pay their total tax bill, ranking the state 15th nationally. Illinois' Tax Freedom Day falls on the same day as national Tax Freedom Day. The Tax Freedom Days of neighboring states are: Wisconsin, April 13 (ranked 12th nationally); Iowa, April 4 (ranked... (Mattoon Journal-Gazette, IL)
Tax increases are coming because theyre necesssary Oct 22, 2009
Corporate taxes tell a similar story. From 1946-1970, a period of great economic growth and prosperity in America, revenue never dropped below 3 percent of GDP. Since 1970, it has never been above 3 percent. (Atlanta Journal-Constitution -- Opinion)
California Focus: Harebrained tax schemes abound in hard times Oct 21, 2009
Now Poizner wants to cut capital gains taxes by half and slash sales, income and corporate taxes by 10 percent. "Lower tax rates are essential to stimulate our economy," he says. (Hanford Sentinal, CA)
Goldman, JPMorgan Bonuses Need Some PR This Year Oct 21, 2009
But its hard to argue that as well when you needed billions in state support, far more than financial institutions ever paid in corporate taxes. So, to help out all those people scratching their heads in the public-relations department, and the Corporate Social Responsibility Office, here are six strategies you might want to try when you have to admit that even the trainees in the subprime-bond unit took home an extra $200,000 this year. (Bloomberg -- Columnists)
Federal Deficit Hits $1.42 Trillion High Oct 18, 2009
Corporate taxes also plummeted as the recession squeezed companies' profit margins. Government spending last year jumped to $3. (Time.com)
Economic seminar or tax summit? Oct 18, 2009
"We're generally good on a lot of other measures but, according to the Tax Foundation, we have some of the highest corporate taxes in the country," he said. Fred Tausch, a Merrimack businessman and founder of the economic watchdog group STEWARD of Prosperity, said Democratic Party leaders in Concord have a "spending problem" and the seminar is a back-door attempt at an income tax. (Seacoast New Hampshire)
ELIGIO NAVA: State tax code needs to be fixed Oct 17, 2009
Sales and corporate taxes would be replaced by the BNRT that would broaden the tax base by including service professions. While legislators squabble over how to establish a comprehensive, reliable water system, this bipartisan commission was able to overcome major ideologies and provide some progressive and positive tax reform recommendations. (Fresno Bee -- Opinion)
Read Hannity's America Oct 17, 2009
BUTTERS, "SOUTH PARK" KID: And so I would like to see if there are any housing loan opportunities for some of my employees and also what kind of corporate taxes I should be filing under. MRS. DAVIS, ACORN STAFFER: And exactly what kind of business are you running. (Fox News)
Oregon tax critics fear biased ballot titles Oct 16, 2009
Oregon voters will be asked in January whether they want to uphold the Legislature s 733 million tax package, which raises corporate taxes and income taxes on wealthier individuals. The Democratic-led Legislature said the tax increases are needed to balance the budget and to protect schools and safety net programs from budget cuts. (Longview Daily News, WA)
Revenue Outlook Still Gloomy For Connecticut, Other States Oct 16, 2009
6 billion in sales, income and corporate taxes, compared to $4. 5 billion in the same period last year. (FOX61, CT)
Wells Fargo Defends SILO Deals Oct 15, 2009
Corporate Taxes October 14, 2009, 9:06PM EST. Wells Fargo Defends SILO Deals. (BusinessWeek)
Cash for Clunkers Can't Salvage Minn. Finances Oct 13, 2009
Corporate taxes also beat expectations by $52 million for the quarter, but came in $51 million below the same three months in 2008. Income and sales taxes make up 80 percent of the overall $3 billion in revenue for the quarter, which makes the shortcomings in those areas so concerning to policymakers. (ABC News -- Wire)
State reports tax-collection shortfall Oct 13, 2009
Corporate taxes, meanwhile, were the biggest bright spot in the report, generating $182 million, or $52 million more than expected. Even so, that was $51 million less than the amount collected in 2008 s third quarter. (Twin Cities Business Journal, MN)
Perfect storm delayed budget Oct 11, 2009
In fact, he forecast no growth in backbone revenues, such as the sales tax, income tax and corporate taxes, by June 2010. Last year the state received $25 billion from those sources and Mr. Rendell is forecasting the same $25 billion this year. (Pittsburgh Post-Gazette, PA)
Click to read:Obama: Nobel Prize a "Call To Action" Oct 10, 2009
" Brad Woodhouse by atexasdelite October 9, 2009 12:07 PM EDT Look, the President is fostering world peace. But the reasons I voted for him I still have not seen any results on. What happened to bring our boys home from Iraq, ending torture, closing Gitmo, regulation on the banking industry and wall street for mismanagement of funds and tax payers dollars, the repeal of don't ask don't tell... I still hold out hope that real change will take place and I know that some of this issues we are... (CBS News)
Oregon tax referendums qualify for Jan. 26 vote Oct 9, 2009
One of the measures raises corporate taxes. The other increases personal income taxes on individuals with a taxable income of more than $125,000 and households with an income of more than $250,000. (KGW Northwest NewsChannel 8, OR)
State tax vote opens door to new budget Oct 8, 2009
The new taxes, which accompany $2 billion in federal stimulus aid and $25 billion from the sales tax, income tax, corporate taxes and other state revenues, will pay for a fiscal year 2009-10 budget of nearly $27. 8 billion. (Pittsburgh Post-Gazette, PA)
Tisei: Anti-business policies are hurting Massachusetts Oct 8, 2009
Unfortunately, state government has been promoting some very anti-business policies as of late from raising corporate taxes to the latest boycott proposals ... The annual report ranks all 50 states in five key tax categories that impact businesses and their investment decisions, including corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes and property taxes ... Massachusetts fares particularly poorly in the areas of corporate taxes and unemployment insurance,... (Stoneham Sun, MA)
Tax lobbyists' gifts Oct 8, 2009
A draft copy of the report obtained by The Associated Press says the Commission on the 21st Century Economy will recommend repealing California's sales and corporate taxes, flattening the income tax rate and adopting a new business tax. The commission spent a year looking for ways to stabilize California's volatile tax system. (Fresno Bee -- Opinion)
EDITORIAL: Tax ideas trigger knee-jerk reaction Oct 2, 2009
The governor asked lawmakers to give a fair hearing to a proposal from the Commission on the 21st Century Economy, which calls for repealing sales and corporate taxes, flattening the income tax rate, and taxing a wider variety of businesses ... The governor asked lawmakers to give a fair hearing to a proposal from the Commission on the 21st Century Economy, which calls for repealing sales and corporate taxes, flattening the income tax rate, and taxing a wider variety of businesses ... The state... (Fresno Bee)
Tensions rise as candidates quarrel over budget Oct 2, 2009
Daggett said he would cut property taxes across the board 25 percent, cut both large and small corporate taxes 25 percent and expand the 7 percent sales tax over more services. It s not raising taxes $4 billion it s levying out the system, he said. (The Daily Targum, NJ)
Turkey's Shift to a More Open Economy Oct 2, 2009
Building on the ideas of Kemal Dervis, the former World Bank official who took charge of the Turkish economy during the 2001 crisis, Erdogan has slashed corporate taxes, tightened intellectual property protections, and set up an investment promotion agency. He also launched Turkey's EU negotiations. (BusinessWeek)
A Year Later And Still No Offshore Drilling Oct 1, 2009
How about pushing for allowing off-shore drilling, exploring for new oil and gas, building refineries, building nuclear plants, building clean coal plants, opening up the arctic, lowering corporate taxes. These would create a lot of good jobs and quickly. (Investors Business Daily)
Economists expect cuts in Government operating expenditure Oct 1, 2009
The move to cut expenditure is fiscally prudent as the global economic slump has brought reduced revenues from corporate taxes while lower commodity prices have also taken a toll, they said. Furthermore, the countrys budget deficit, which has steadily risen since 2008, is expected to hit 7. (The Star Online, Malaysia -- Business)
Schwarzenegger Wants Fast Action on Tax Overhaul Sep 30, 2009
The state would repeal its sales and corporate taxes, flatten the income tax rate, and tax a wider variety of businesses under Tuesday's recommendations from the Commission on the 21st Century Economy. It would include a nearly unprecedented "business net receipts tax" that would apply to all companies doing business in California, including many based in other states. (ABC News -- Wire)
Commission wants state to drop corporate, sales taxes Sep 30, 2009
AP, which obtained a draft of the report, reported that the commission wants a business levy on net receipts to replace current sales and corporate taxes. In addition, joint income tax filers could have a standard deduction of $45,000 and single filers would have $22,500, AP reported, while those in higher brackets could be taxed at 6. (Sacramento Business Journal, CA)
Calif. Tax Panel's Ideas Meet Political Skeptics Sep 30, 2009
The Commission on the 21st Century Economy is expected to recommend repealing the sales and corporate taxes, flattening the income tax rate and taxing businesses in a way that has never been tried on a wide scale in the United States ... It also recommends replacing the state sales and corporate taxes with a new business levy that taxes net receipts, in an attempt to tax the value of all goods and services businesses produce in the state ... At the heart of the commission's proposal is a plan to... (Newsmax)
Panel proposes dramatic state tax overhaul Sep 30, 2009
Besides doing away with the traditional sales and corporate taxes, the 415-page report by the bipartisan Commission on the 21st Century Economy suggests across-the-board reductions in personal income tax rates. However, the wealthy, whose income taxes make up the lion's share of the state's tax base, would see larger tax cuts under the proposed changes. (San Francisco Chronicle -- Politics)
Governor Wants Tax Panel Review This Year Sep 30, 2009
It calls for repealing sales and corporate taxes, flattening the income tax rate and taxing a wider variety of businesses. Copyright 2009 by. (KSBW 8, CA)
`Dream' of Children in Japan Hinges on Childcare, Minister Fukushima Says Sep 25, 2009
8 trillion yen ($185 billion) in spending on tuition and jobless aid, child support and lowering corporate taxes to revive a stagnant economy and encourage the growth of families. Under his plan, families would get 13,000 yen a month per child under 15 in the year beginning April 2010 and 26,000 yen the following year. (Bloomberg -- Japan)
Underwater logging in the Volta Lake Sep 25, 2009
It is estimated that about 100 million dollars worth of investment will be brought into Ghana in addition to payment of corporate taxes to government. The project will ensure environmentally certified timber products from Ghana to the global market, establish Ghana as a world leader in underwater timber harvesting and develop technologically advanced processing and other value-added capabilities in Ghana. (Ghana Web, Ghana)
Kentucky, Indiana rise in tax rankings Sep 24, 2009
It was 21st for corporate taxes, 11th for individual income taxes, 20th for sales taxes, 11th for uninsurance taxes and 12th for property taxes. The top 10 business-friendly states in the 2010 Index are South Dakota, Wyoming, Alaska, Nevada, Florida, Montana, New Hampshire, Delaware, Washington and Utah. (Louisville Business First, KY)
Colorado's friendly on tax Sep 24, 2009
In between were its ratings on corporate taxes (No. 12), individual income tax (No. (Denver Business Journal, CO)
Hawaii ranks 24th for business-tax climate Sep 23, 2009
Hawaii ranked near the top for corporate taxes (10th) and sales taxes (11th) and was considered among the best for unemployment insurance taxes (12th) and property taxes (8th). Hawaii was near the bottom for individual income taxes (44th). (Pacific Business News, HI)
The Founder Visa Ignores Immigration Reality, Kirk Wylie, Kirks Rants Sep 23, 2009
I pay personal taxes, and pay corporate taxes that help raise the tax base of the country as a whole. From a purely economic perspective, it's absurd to alienate someone like me from the US, but that's precisely what's happened. (Harper's Magazine)
State's business-tax climate: Unfriendly Sep 23, 2009
The study ranks each state in five categories before calculating an overall ranking: corporate taxes, individual income taxes, sales taxes, unemployment taxes and property taxes. Connecticut ranked 18th in the corporate tax index, 24th in the individual income tax index, 27th in the sales tax index, 34th in the unemployment insurance tax index and 48th in the property tax index. (Republican-American)
Report: MNs tax system unfriendly to business Sep 23, 2009
It landed 29th when it came to corporate taxes, but 43rd for personal income taxes. Iowa ranked 46th overall in the report. (Twin Cities Business Journal, MN)
Tennessee 22nd in tax-burden study Sep 23, 2009
Tennessee ranked much higher for corporate taxes (11th) and individual income taxes (8th), but was considered near the bottom for sales taxes (49th), property taxes (46th) and unemployment insurance taxes (32nd). The state with the best 2010 ranking was South Dakota, which climbed up from second place for 2009. (Nashville Business Journal, TN)
Prepping for the Poizinator Sep 22, 2009
His big gun is a proposal to cut taxes across the board, with 10% chops in personal and corporate taxes and a 50% cleaving of the capital gains tax. Although this sounds like a wonderful recipe to shrink already emaciated state coffers, he swore that cutting tax rates would actually, and fairly quickly, result in increased tax revenues. (Los Angeles Downtown News, CA)
S'pore, Hong Kong could benefit from US clampdown on taxation leaks Sep 22, 2009
And if the corporate taxes are not there because their revenue base has gone, then individuals remain and indirect taxes remain. So, what I see with the US government at the moment is that they are tightening the reins," said Grahame Wright, tax partner at Ernst LLP. Some observers expect that once companies begin to move offshore, they could see resistance from governments eager to retain their tax revenue, which could become a source of taxation friction for some time to come. - CNA /ls Other... (Channelnewsasia.com)
Anti-tax measures struggle for signatures Sep 22, 2009
The tax hike package, which has drawn staunch opposition from most of Oregon s major business organizations, would raise corporate taxes and increase income taxes on individuals with a taxable income of more than 125,000 a year or households making above 250,000. Business groups backing the referendum effort argue the tax increases will slow Oregon s economic recovery and cause more job losses. (Coos Bay-North Bend The World, OR)
Ore. referendums on roads, health struggling Sep 20, 2009
referendums on roads, health struggling - NewsFlash - OregonLive. Sign in to OregonLive. (OregonLive, OR -- News)
Globalism vs. Americanism Sep 19, 2009
Impose a border tax equal to a VAT on all their goods entering the United States, and use the hundreds of billions to cut corporate taxes on all manufacturing done here in the United States. Where they have tilted the playing field against us, let us tilt it back again. (Human Events Online)
Ratings Of Rell, Legislature Drop Sharply In Poll Sep 18, 2009
Starting with the bankruptcy of the Lehman Brothers investment banking firm one year ago, the state's revenues collapsed in all of the major categories including the income tax, the sales tax and corporate taxes. Overall, revenue dropped by about $2 billion the largest in state history. (FOX61, CT)
Americans' Net Worth Rose in 2nd Quarter Sep 18, 2009
they pay the c-level suits more, so they can subtract that compensation out as an expense and pay less in corporate taxes. Paints a rosier picture for the shareholders. (CBS News -- US)
Whole-grain pasta getting easier to love Sep 17, 2009
r d wrote on Sep 16, 2009 2:02 PM:" Ostinmontana - my previous response to you re: corporate taxes was:"Actually, the writer's inference is that a majority of "taxpayer funds" are from individual taxes ... A majority of taxes collected are not individual taxes, but employment and corporate taxes ... "Now, you are free to disagree, but individual taxes are filed on a form 1040. Employment taxes and corporate taxes are not. A majority of revenues collected by the fisc are not filed on 1040s,... (Montana Standard, MT)
The accused often draw on 'attack twist' Sep 16, 2009
" Wow. Your views must really stink if you're afraid to discuss them here. Too bad. My views: We should be judged by our character and achievements, not by race, creed, color, or gender. Our federal government has ignored the Constitution blatantly for the past 40 or so years. The entire Bill of Rights is a check on government power, not limits on what people can do. The federal government not establishing a religion is not the same as having to remove Christmas from every aspect of public view.... (Waterloo-Cedar Falls Courier)
Federal deficit surges to $1.38 trillion through August Sep 14, 2009
It marked the 16th consecutive month that revenues have been lower than the previous year, a string that reflects how much the recession, which began in December 2007, has cut into personal income and corporate taxes. Spending in August totaled $256. (USA Today -- Money)
Wealth Gap Widening in Kazakhstan Sep 12, 2009
These companies are required to pay their taxes to the National Fund, which then serves as a major source of income for the national budget, in addition to VAT payments and other corporate taxes. Local budgets, on the other hand, mainly rely on personal income taxes and large transfers from the national budget to cover developmental programs and the social service net. (BusinessWeek)
Can the Future Be Built in America? Sep 12, 2009
HIGH CORPORATE TAXES. Much of the blame lies with U.S. government policy. (BusinessWeek)
Pennsylvania State Revenue Department Announces Fall Tax Seminar Schedule Sep 11, 2009
The Department of Revenue's fall tax seminars educate Pennsylvania tax professionals on personal income taxes, sales taxes, corporate taxes, compliance initiatives and using the department's Web site, , to establish tax accounts for new businesses, file tax returns and pay state taxes. "For 27 years, the Revenue Department has offered these seminars to educate thousands of tax professionals on changes in tax laws," said Stetler. (PR Newswire)
Business groups take aim on Albany Sep 10, 2009
New York s 2009 Business Tax Climate Ranks 49th, which includes a combination of corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property. New York s cost of doing business is the 2nd highest in the Nation. (Buffalo Business First, NY)
Thompson is the change we need: Sep 10, 2009
Speaking of taxes, under Thompson personal income taxes did not increase, sales taxes did not increase, and corporate taxes did not increase. The lame duck Doyle administration will have to increase taxes because Doyle wants to raise more than $1 billion of revenue from you-in this budget alone. (Chetek Alert, WI)
Mr. President, ignore the polls and pass health care reform Sep 9, 2009
You want to fix the economy then lower taxes, lower corporate taxes and move out of the way. The economy will fix itself. (Atlanta Journal-Constitution -- Opinion)
Hardie tax woes head to court Sep 7, 2009
The first was ''triple taxation'' because US earnings were subject to US corporate taxes, to withholding tax when dividends were sent to the Australian parent company and to income tax in the hands of Australian shareholders. The second was that the Australian parent company, which had recorded operating losses in the mid 1990s, carried future income tax benefits as a $70 million asset on its balance sheet. (Sydney Morning Herald -- Business)
Something completely different in Japan Sep 2, 2009
Road tolls will also be scrapped and corporate taxes for small companies reduced to 11. All of this with a public deficit likely to reach 200% of gross domestic product by end-2009, a fact that has to take part in the DPJ's post-election policy agenda. (Asia Times Online)
Voices from the crowd Sep 2, 2009
Andy Goss wrote on Sep 1, 2009 11:16 AM:" This is why before we can tackle reforming health care, we have to tackle fixing the ridiculous tax code that oppresses more people and presents more opportunity for fraud and abuse than anything else. This is why I support the 15% personal income flat tax and also reducing corporate taxes to 15% to bring back those companies who have fled to other countries to escape our spendthrift gov't. Bring them back, give them a tax holiday for one year and bring... (Sierra Vista Herald, AZ)
Consumption tax is the only answer Sep 2, 2009
The income tax, with the second highest corporate taxes on the planet, has been sabotaging America for more than 50 years. Textiles were the first to succumb, thus the letter-writer's lament. (Fredericksburg.com, VA)
Obama's 2010 Budget Fantasy Sep 1, 2009
When combined with the increase in corporate taxes (p. 43-45), the Administration's actions may have the unintended consequences of producing a chilling effect on cross-border trade. (Human Events Online)
BUSINESS WATCH: Pratt plant closing a done deal Aug 28, 2009
Of course, Democrats in the legislature and Gov. M. Jodi Rell have looked at corporate taxes, and propose imposing a surcharge -- another tax increase -- on companies as part of their plans to close the budget deficit. Here's why that's a bad idea: A Tax Foundation study released this month found that, nationwide, for every $1 increase in state and local corporate tax collections, real wages fall by $2. (Republican-American)
Israel Moves Toward Energy Independence Aug 25, 2009
"The state treasury will make over $5 billion in royalties and corporate taxes from the production of gas at the Tamar field alone," estimates Gal Reiter, energy industry analyst at Clal Finance & Brokerage, a leading Tel Aviv investment bank. Additionally, Israel's balance of payments is likely to show an even larger surplus in the coming years as the country reduces its dependence on imported oil and coal. (BusinessWeek)
Turning Corporate Taxes into an Innovation Spur Aug 18, 2009
Viewpoint August 17, 2009, 12:14PM EST. Countries compete for mobile, high-value-added jobs, and increasingly they use their tax code as a key tool. (BusinessWeek)
Singapore won't need another stimulus: Lee Aug 17, 2009
Singapore unveiled a so-called Resilience Package which included plans to cut corporate taxes and spend a record S$20. 5 billion ($US14. (Sydney Morning Herald -- Business)
Corporate Taxpayers Take a Big Hit in 1st Circuit's 'Textron' Ruling Aug 15, 2009
" The dispute extends back to Textron's 2001 tax return, when the company claimed deductions related to a sale-in, lease-out (SILO) transaction. The IRS considers these SILO deals to be potential tax shelters and sought so-called "tax accrual work papers" prepared or reviewed by in-house and outside lawyers for Textron. These documents analyzed the likelihood that the IRS might challenge this transaction, and whether Textron had created adequate reserves to cover any additional tax liability.... (Law.com)
