Sentences with phrase «deductible under federal law»

And the state will also create an optional payroll tax — still fully deductible under federal law — for businesses to pay for their employees.

Not exact matches

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.

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.»

Under the new federal tax law, employers» state and local taxes would remain deductible.

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).

HELOC loans became very popular in the United States in the early 2000s, in part because interest paid is typically deductible under federal and many state income tax laws.

The purpose of these two criteria is to be consistent with the tax law's intent that 2017 property taxes are deductible under the 2017 federal tax rules and 2018 property taxes are deductible under the 2018 federal tax rules.

The LPCA Foundation is from exempt from federal income tax under section 501 (c)(3) of the Internal Revenue Code, and contributions are deductible as charitable contributions under the law.