In case you missed it, we have a brand - new
Federal income tax law which commenced on January 1, 2018, called the «Tax Cuts and Jobs Act of 2017 ``.
Not exact matches
The Congressional Budget Act of 1974 defines
tax expenditures as «revenue losses attributable to provisions of the
Federal tax laws which allow a special exclusion, exemption, or deduction from gross
income or
which provide a special credit, a preferential rate of
tax, or a deferral of
tax liability.»
The change in the current
tax law regarding MLPs could result in the MLP being treated as a corporation for
federal income tax purposes
which would reduce the amount of cash flows distributed by the MLP.
--- Creating a «family partnership» under
federal tax laws,
which allows you to divide business
income among family members.
Gov. Andrew Cuomo went to the Teamsters Local 456 headquarters in his home county of Westchester on
federal Tax Day to sign legislation that he said was intended to circumvent the new federal tax law, which caps income tax deductions for state and local tax
Tax Day to sign legislation that he said was intended to circumvent the new
federal tax law, which caps income tax deductions for state and local tax
tax law,
which caps
income tax deductions for state and local tax
tax deductions for state and local
taxes.
U.S. Sens. Charles Schumer and Kirsten Gillibrand should expect to get a
federal income tax cut worth thousands of dollars next year under the new Republican
tax law,
which they both fought and voted against, based on their 2017
tax returns.
WASHINGTON — New York's two Democratic senators, Chuck Schumer and Kirsten Gillibrand, should each expect to get a
federal income tax cut worth thousands of dollars next year under the new Republican
tax law,
which they both fought and voted against, according to projections based on their 2017
tax returns.
And it must restore the elimination of state and local
tax deductibility,
which has been the foundation of the
federal income tax law since its creation more than a century ago.»
He discussed at length how the
law ends the longtime practice of letting taxpayers deduct state and local
taxes from their
Federal income taxes,
which he said will take a significant chunk of New Yorker's
income next year.
A report in Sunday's New York Times said Democrats in some states, perhaps including Governor Cuomo, were considering proposals to «replace state
income taxes,
which are no longer fully deductible under the new [
federal]
law, with payroll
taxes on employers,
which are deductible.»
The Senate suggests that the city adopt the cap in light of the new
federal tax law,
which eliminates
federal income tax deductions for state and local
taxes (SALT).
Notwithstanding any of the provisions of the Constitution, the Association shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from
Federal income tax under Section 501 (c) 3 of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States Internal Revenue
Law) or (b) by a corporation, contributions to
which are deductible under Section 170 (c) 2 of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States Internal Revenue
Law).
The charitable deduction falls into a category of revenue losses, so - called
tax expenditures, attributable «to provisions of the
Federal tax laws which allow a special exclusion, exemption, or deduction from gross
income or
which provide a special credit, a preferential rate of
tax, or a deferral of
tax liability.»
Current
federal tax law requires the holder of a U.S. Treasury or other fixed
income zero coupon security to accrue as
income each year a portion of the discount at
which the security was purchased, even though the holder receives no interest payment in cash on the security during the year.
State
income, business, and estate
tax returns, personal property
tax returns, and confidential records held pursuant to § 58.1 - 3 (
which include any information with respect to the transactions, property, including personal property,
income or business of any person, firm or corporation and any copy of a
federal return or
federal return information required by Virginia
law to be attached to or included in the Virginia return)(§ 2.2 - 3705.7 (1)-RRB-
In the year of disposition the adjustment will be a subtraction for gain attributable to installment payments to be made in future taxable years provided that (i) the gain arises from an installment sale for
which federal law does not permit the dealer to elect installment reporting of
income, and (ii) the dealer elects installment treatment of the
income for Virginia purposes on or before the due date prescribed by
law for filing the taxpayer's
income tax return.
California has a
law which sets the child support amount based on your and your spouse's (or other parent's
income, if you're not married)
incomes after
federal taxes, state
taxes, social security, and other mandatory deductions along with the amount of time you each spend with your children.
California has a
law which sets the child support amount based on your and your spouse's (or other parent's
income, if you're not married)
incomes after
federal taxes, state
taxes, social security, and other mandatory deductions.
«New
laws, as well as
tax provisions that expired at the end of 2013, may make a noticeable impact for some taxpayers, depending on their
income levels and other factors,» said Mark Luscombe, principal
federal tax analyst at Wolters Kluwer CCH,
which publishes information for
tax professionals.