Sentences with phrase «avoiding state income taxes»

Not exact matches

One way to avoid a huge tax bill is to have federal taxes withheld from your unemployment checks (however, you may still owe state income tax) or set aside the money yourself so you'll have the money to pay taxes.

Taxpayers» strategy in late 2012 that aimed at avoiding federal income tax hikes in 2013 produced a 10.8 % jump in state personal income tax collections in the fourth quarter of 2012 compared to the same period the previous year, researchers found.

This discussion also does not consider any specific facts or circumstances that may be relevant to holders subject to special rules under the U.S. federal income tax laws, including, without limitation, certain former citizens or long - term residents of the United States, partnerships or other pass - through entities, real estate investment trusts, regulated investment companies, «controlled foreign corporations,» «passive foreign investment companies,» corporations that accumulate earnings to avoid U.S. federal income tax, banks, financial institutions, investment funds, insurance companies, brokers, dealers or traders in securities, commodities or currencies, tax - exempt organizations, tax - qualified retirement plans, persons subject to the alternative minimum tax, persons that own, or have owned, actually or constructively, more than 5 % of our common stock and persons holding our common stock as part of a hedging or conversion transaction or straddle, or a constructive sale, or other risk reduction strategy.

International companies — such as pharmaceutical or technology firms — shelter income abroad to avoid taxes in the United States.

The measure would amend the state's tax law when it comes to how a taxpayer's income is calculated in order to avoid the state's tax burden increasing as a result of the federal tax overhaul.

Cuomo did not directly come out against the plan but argued that high - income earners tend to be «highly mobile» and can simply leave New York altogether to avoid paying state income taxes they deem unfair.

Committee backers avoided $ 16 billion in corporate state income taxes between 2008 and 2010 from state tax loopholes which Cuomo has kept open.

In 2010, the New York legislature passed an executive budget proposal offered by Cuomo's predecessor, Democratic Gov. David Paterson, that was supposed to end the «carried interest» loophole — which allows hedge - fund and private - equity managers living in other states and working in New York to avoid paying state income taxes on investment profits.

Westchester County, the New York suburb where household income is 53 percent above the U.S. average, wants to use its top credit rating to sell taxable bonds to finance pension contributions and avoid increasing the highest taxes in the country... It faces a $ 54 million payment to the state retirement plan in 2011, $ 78 million in 2012 and $ 163 million in 2015, said County Executive Robert Astorino, who's working to close a $ 166 million budget gap next year.

In return for those jobs, businesses avoid paying all state corporate, income and sales taxes for 10 years.

«IOGA of NY calls on the agency to also determine the full negative impact this delay has had on the state, especially the Southern Tier by examining lost sales, income and property tax revenue; outward job migration and jobs lost to other states; how the higher cost of fuel has impacted business growth in the state; and how many foreclosures could have been avoided.»

As reported in the well - researched and comprehensive article in The CT Mirror by Jacqueline Rabe Thomas on January 16, 2018, the state currently allows parents to avoid paying state income taxes each year on up to $ 10,000 that they put into a college savings account.

To avoid the need to report any subsequent state or local income tax refunds as income, many taxpayers who itemize deductions will chose to claim a deduction for state and local sales tax instead of deducting state and local income taxes.

When I state that they don't pay taxes on their gains, I meant that they avoid paying taxes on that rental income sheltered in the corporation.

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Many states expand the tax brackets for married couples to avoid the «marriage penalty» which otherwise penalizes married couples with dual income by taxing them in the same brackets as single taxpayers.

To avoid burdening low and moderate - income households, carbon tax proceeds should be returned to Americans through periodic pro rata «dividends» or dedicated to reducing the tax burden of regressive taxes such as the federal payroll tax or state sales taxes (depending upon whether the tax is imposed at the federal or state level).

Whole life policies can reduce and / or avoid federal and state income and inheritance taxes at death.

Through the use of policy loans, policyowners can completely avoid federal, state, and local income taxes, as well as the alternative minimum tax on the cash flow.