Sentences with phrase «federal income tax revenue»

So, when we talk about the beneficiaries of this tax benefit, we're talking about households who are the pillars of federal income tax revenue.

If we assume the average federal tax rate on capital income is 25 per cent (most capital income is taxed in the higher 22 per cent, 26 per cent and 29 per cent tax brackets), this yields a revenue cost of $ 6.6 - billion, or 7 per cent of federal income tax revenues.

If we assume the average federal tax rate on capital income is 25 per cent (most capital income is taxed in the higher 22 per cent, 26 per cent and 29 per cent tax brackets), this yields a revenue cost of $ 6.6 - billion, or 7 per cent of federal income tax revenues.

Not exact matches

Policymakers have bemoaned that companies make money in foreign companies but avoid having to pay federal tax on that income, which robs the U.S. Treasury of revenue.

Republican presidential candidates Rick Perry and Michelle Bachmann have both suggested that Washington should instead turn to the nearly half of American households that pay no federal income tax to raise revenue.

Two programs administered by the federal government and financed out of general tax revenues comprise the first pillar: Old Age Security (OAS) and the Guaranteed Income Supplement (GIS).

They found the federal treasury lost at least half a billion dollars in tax revenue that would have been paid had individuals not been able to funnel their personal income through corporations.

Section 162 (m) of the Internal Revenue Code imposes limitations on the deductibility for corporate federal income tax purposes of remuneration in excess of $ 1 million paid to the chief executive officer, chief financial officer and each of the three next most highly compensated executive officers of a public company.

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.»

Overview of federal tax receipts: the composition of federal tax revenues, the income distribution of tax shares and liability, and the changes in total tax burden and as a percentage of GDP over time.

«Each one percentage point cut to the corporate income tax rate costs the federal government about $ 2 billion in annual revenues,» wrote the authors, one of whom was CLC chief economist Andrew Jackson...

The federal tax schedule or table is a chart devised by the Internal Revenue System that aids the taxpayers in determining the federal income tax incurred for a particular year.

Income Trust Conversions: Estimated Federal and Provincial Revenue Effects By Jack M. Mintz (1) The recent announcements by TELUS and BCE have given rise to the question as to how much federal and provincial taxes have been reduced by corporations converting into income tIncome Trust Conversions: Estimated Federal and Provincial Revenue Effects By Jack M. Mintz (1) The recent announcements by TELUS and BCE have given rise to the question as to how much federal and provincial taxes have been reduced by corporations converting into income Federal and Provincial Revenue Effects By Jack M. Mintz (1) The recent announcements by TELUS and BCE have given rise to the question as to how much federal and provincial taxes have been reduced by corporations converting into income federal and provincial taxes have been reduced by corporations converting into income tincome trusts.

The payments and benefits provided under his executive agreement in connection with a change in control may not be eligible for a federal income tax deduction for the company pursuant to Section 280G of the Internal Revenue Code.

The components of nominal GDP represent the applicable tax bases for personal and corporate income tax revenues, which represent about 60 % of total federal revenues.

«They were the greatest (approaching 95 % at times) source of federal revenue until the Federal income tax began after 1913.federal revenue until the Federal income tax began after 1913.Federal income tax began after 1913.»

Because of the limitations of Internal Revenue Code Section 162 (m), we generally receive a federal income tax deduction for compensation paid to our chief executive officer and to certain other highly compensated officers only if the compensation is less than $ 1,000,000 per person during any fiscal year or is «performance - based» under Code Section 162 (m).

Even though federal corporate tax rates have fallen by more than half over the past 30 years, corporate income tax revenues have continued to fluctuate around two per cent of GDP.

The federal Budget changed the rules a bit re the taxation of passive investment income in private corporations, but falls well short of what was promised in terms of extra revenues and more tax fairness.

It said that the average federal income tax rate on pass - through business income was 19 percent and that if pass - through activity had remained at 1980s levels, that tax revenue would have been about $ 100 billion a year higher.

Special tax treatment of dividend income costs a lot in terms of foregone government revenues, mainly benefits the very affluent, and thus merits serious re-consideration as part of the federal government's current review of tax expenditures.

In other words, corporate income tax revenues as a share of federal government revenues are on track to rise by 15 per cent in five years.

What's more, government forecasts show corporate income tax revenues climbing by roughly a third between now and 2015 - 16 — at which point they will account for 12.2 per cent of total federal budgetary revenues.

For example, the federal government's most recent Fiscal Monitor shows that in the first eight months of 2011 - 12, corporate income taxes generated 10.6 per cent of total federal government revenues.

[fn.3] Since the starting point for many state income tax calculations is either federal adjusted gross income or federal taxable income, a dollar - for - dollar tax credit might lose the state revenue.

According to the Washington, D.C. - based group, «building 100 single - family homes in a typical metro area creates 297 full - time jobs and generates $ 28 million in wage and business income and $ 11.1 million in federal, state and local tax revenue.»

However, the Liberal platform also envisaged temporary deficits to finance higher spending on social programs such as child benefits, a higher Guaranteed Income Supplement for single seniors, public health care, child care and First Nations programs, and did not increase overall federal tax revenues.

Bond income, in contrast, is deducted from corporate revenues as interest expense, and therefore does not get taxed by the federal government at the corporate level.

This designation allows exemption from federal corporate and income taxes for most types of revenue.

Since Illinois income tax forms are based on the federal forms, loophole closing measures at the federal level will raise state revenue by up to $ 100 million a year, the commission staff found.

Despite his six - figure income funded by taxpayer dollars, Terry has since 2000 amassed nearly $ 1.2 million in federal liens from the Internal Revenue Service and more than $ 205,000 in state tax warrants.

The Internal Revenue Service has determined that the Empire Center is exempt from federal income tax under section 501c3 of the Internal Revenue Code, meaning contributions to the Empire Center are deductible to the full extent provided by law.

The policy dates back to the federal Revenue Act of 1862, the country's first income tax, later confirmed with the ratification of the 16th Amendment to the Constitution in 1913, Cuomo said.

If the switch from a state income tax to a payroll tax results in less revenue for the federal government, Congress might decide to no longer allow the deduction.

The 1999 Constitution in section 162 (1) establishes a pool of revenue belonging to all three levels of government, federal, state and local government, called the Federation Account, «into which shall be paid ALL revenues collected by the Government of the Federation, except the proceeds from the personal income tax of the personnel of the Armed Forces of the Federation, the Nigeria Police Force, the Ministry or department of government charged with responsibility for Foreign Affairs and the residents of the Federal Capital Territory, Abuja&federal, state and local government, called the Federation Account, «into which shall be paid ALL revenues collected by the Government of the Federation, except the proceeds from the personal income tax of the personnel of the Armed Forces of the Federation, the Nigeria Police Force, the Ministry or department of government charged with responsibility for Foreign Affairs and the residents of the Federal Capital Territory, Abuja&Federal Capital Territory, Abuja».

The Internal Revenue Service filed a total of $ 173,507 in tax liens against Huntington Town supervisor candidate Tracey Edwards and her husband for unpaid federal income taxes between 2005 and 2012, public records from the Suffolk County Clerk's office show.

The Federal Government got a commendation at the weekend over its voluntary income declaration scheme as Executive Chairman of the Lagos Inland Revenue Service (LIRS), Mr. Ayodele Zubair, described the Voluntary Assets and Income Declaration Scheme (VAIDS) as the last chance for tax offenders to redeem themsincome declaration scheme as Executive Chairman of the Lagos Inland Revenue Service (LIRS), Mr. Ayodele Zubair, described the Voluntary Assets and Income Declaration Scheme (VAIDS) as the last chance for tax offenders to redeem themsIncome Declaration Scheme (VAIDS) as the last chance for tax offenders to redeem themselves.

Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has advised tax defaulters to take advantage of the Voluntary Assets and Income...

He determined that only policies that considerably raise top federal income tax rates and that redistribute tax revenue to lower - income households are likely to bring large reductions in the total number of Americans that die annually.

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).

Upon dissolution or winding up of said corporation's affairs, whether voluntary or involuntary, all of its assets then remaining in the hands of the board of directors shall, after paying or making provision for payment of all of said corporation's liabilities, be distributed, transferred, conveyed, delivered, and paid over only to educational, scientific, literary, or charitable organizations that are exempt from federal income tax under section 501 (c)(3) of the Internal Revenue Code of 1986, as amended, and which are not private foundations within the meaning of section 509 (a) of the Internal Revenue Code of 1986, as amended, on whatever terms and conditions and in whatever amounts the board of directors may determine, for use exclusively for educational, scientific, literary, or charitable purposes, except that no distribution shall be made to organizations testing for public safety.

The Conquer Cancer Foundation is a public charity exempt from federal income tax under Section 501 (c)(3) of the Internal Revenue Code and the organization's Federal Identification Number (EIN) is 31-1federal income tax under Section 501 (c)(3) of the Internal Revenue Code and the organization's Federal Identification Number (EIN) is 31-1Federal Identification Number (EIN) is 31-1667995.

Ccatholic from federal income tax under the provisions of Section c 3 of the Internal Revenue Code.

Most federal government tax revenue comes from personal income and payroll taxes.

Most state and local government revenues come from sales taxes, grants from the federal government, personal income taxes, and property taxes.

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.»

In his first term, Wilson persuaded a Democratic Congress to pass the Federal Reserve Act, Federal Trade Commission, the Clayton Antitrust Act, the Federal Farm Loan Act and America's first - ever federal progressive income tax in the Revenue Act oFederal Reserve Act, Federal Trade Commission, the Clayton Antitrust Act, the Federal Farm Loan Act and America's first - ever federal progressive income tax in the Revenue Act oFederal Trade Commission, the Clayton Antitrust Act, the Federal Farm Loan Act and America's first - ever federal progressive income tax in the Revenue Act oFederal Farm Loan Act and America's first - ever federal progressive income tax in the Revenue Act ofederal progressive income tax in the Revenue Act of 1913.

Jones said she is contemplating a bill to eliminate the child deduction on Utah income tax (though not the federal deduction) and dedicating new revenues from this move to local public schools through the community councils.

Federal income tax law prohibits the use of direct or indirect Federal guarantees in combination with tax - exempt debt (section 149 (b) of the Internal Revenue Code of 1986 (the Code).

In certain circumstances, the U.S. Internal Revenue Code requires that individual income taxpayers report the refund of excess state or local income tax payments received by the taxpayer as income for federal income tax purposes.