Sentences with phrase «dollar state tax»

The March 14 to 15 trip to the Miami area was for lawmakers to learn about Florida's Tax Credit Scholarships Program, a controversial initiative that gives dollar - for - dollar state tax credits to encourage companies to donate scholarship money for low - income children attending private schools, according to Darrell Allison, the director and chief lobbyist for Parents for Educational Freedom (PEFNC).

Recently, he wrote the following: «In addition, I will continue to work for the passage of the Education Investment Tax Credit that would provide a dollar - for - dollar state tax credit for any person or business that makes a donation to public schools or private scholarships for students attending non-public schools.

When combined with a federal tax loophole that allows taxpayers to receive a federal deduction on a dollar - for - dollar state tax credit, 10 of these states» credits are so lucrative that they allow some upper - income taxpayers to turn a profit (at federal taxpayer expense) on contributions they make to fund private school vouchers.

But if the state issued a dollar - for - dollar state tax credit for charitable contributions made to, say, the state's general infrastructure fund, the first $ 6,000 donated, though reducing state tax liability by $ 6,000, does nothing to lower federal taxes owed because the taxpayer would still take the standard deduction.

Although the preceding example uses a dollar - for - dollar state tax credit, even a less generous state tax credit would create the distortion I describe.

Not exact matches

Manafort «borrowed millions of dollars in loans using these properties as collateral, thereby obtaining cash in the United States without reporting and paying taxes on that income,» the indictment says.

State pension funds, facing a potential multitrillion - dollar shortfall, find themselves in the center of a four - way battle: Employees and retirees expect to be paid their promised benefits; the pension systems have clear obligations but may not have the resources to pay them; politicians are looking for ways to resolve the underfunding and balance the burden among retirees and workers; and state taxpayers, challenged to provide for their own retirements, resent the additional tax State pension funds, facing a potential multitrillion - dollar shortfall, find themselves in the center of a four - way battle: Employees and retirees expect to be paid their promised benefits; the pension systems have clear obligations but may not have the resources to pay them; politicians are looking for ways to resolve the underfunding and balance the burden among retirees and workers; and state taxpayers, challenged to provide for their own retirements, resent the additional tax state taxpayers, challenged to provide for their own retirements, resent the additional tax load.

Remember, your 401 (k) plan or traditional individual retirement account is tax - deferred money — meaning, for every dollar you take out, you will owe taxes (federal and state).

The tax credits are attractive because they provide a dollar - for - dollar reduction in a taxpayer's state income tax.

Contributions to HSAs are made with pretax dollars (in most states), assets grow tax - free, and distributions are tax - free if used to pay for qualified medical expenses or as reimbursement for such expenses.

«In addition to ending a key front in the racist war on drugs, regulating and taxing marijuana would generate hundreds of millions of dollars of tax revenue for our people and create important agricultural opportunities for our state,» Nixon said in the Twitter video.

That can be tough to do when federal and state taxes are taking roughly 45 percent of every dollar.

«Manafort used his hidden overseas wealth to enjoy a lavish lifestyle in the United States, without paying taxes on that income,» the indictment says, adding, «Manafort then borrowed millions of dollars in loans using these properties as collateral, thereby obtaining cash in the United States without reporting and paying taxes on that income.»

MacManus, in a written response to the senators, defended USAID's work without responding to their concerns about U.S. tax dollars supporting Soros's causes and their call for a State Department review into those funding decisions.

For residents in 26 states and in D.C., the combination of state and federal taxes take at least one in five dollars they earn over the course of the year.

In the latest move to attract business, the state is running a multimillion dollar national ad campaign promoting «Start - Up NY,» which offers 10 years free of all taxes to businesses that agree to partner with universities.

Four states, plus Washington, D.C., have recently legalized recreational pot, and Colorado and Washington are already raking in millions of dollars in tax revenue from their legal markets.

By doing so, you would be taking money that would be free of state income taxes during retirement and making those dollars taxable today.

In other words, one may trust that the US dollar will have value as long that the American state functions well, holds assets, and has the capacity to levy taxes to finance itself.

Once you take a pretax retirement account, such as a traditional IRA, and convert that account to a Roth IRA, you are subjecting your retirement dollars to both federal and state income taxes today in return for the promise of tax - free income during retirement.

A Dangerous Intersection: States are shifting tax dollars away from public colleges just as younger generations are becoming more diverse.

The White House and Republican leaders in Congress are discussing ways to jointly push through an overhaul of the tax code in the remainder of 2017 that cuts taxes and allows corporations to bring back trillions of dollars in overseas earnings to the United States.

Between the Federal and State governments, 45 % of every dollar paid in dividends was given right back to the tax man.

«That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions.»»

But in most states, the pre-existing «as of right» tax breaks that flow automatically, or virtually automatically, to any company that performs an eligible activity, may constitute the bigger dollar value.

Because your life insurance premiums are paid with after tax dollars, the death benefit is able to be paid out in lump sum without any state or federal taxes being withheld.

«We're confident the impact will increase with visitors purchasing more bottles to ship home, which will boost tourism and add valuable tax dollars to local and state coffers.

To the hoteliers who are pushing state lawmakers to tax and regulate home and room rentals, the target was clear: Airbnb, the multi-billion dollar corporation that they believe has been unfairly helped by its ability to operate outside the law.

Every gas tax dollar goes to building and maintaining state, and municipal roads and bridges.

Another route would be for states to create dollar - for - dollar tax credits for all charitable contributions made to the state government.

But states such as North Dakota, South Carolina, Alabama, Kentucky, West Virginia and Indiana get more than two dollars back in federal spending for every dollar in taxes.

Tags: border adjustment tax, CNBC, German 2 - Year yield, Santelli, U.S. Dollar Posted in Currency, United States 7 Comments»

I also think more foreign companies will consider investing in the United States, as the combination of lower tax rates and the weak dollar makes the US a more attractive place to invest.

On top of new fees and taxes levied by state and local agencies on growers opting to join the regulated market, it can cost hundreds of thousands of dollars for growers like JD to bring their land up to code.

As the JCT states, it reflects the «dollar benefit to taxpayers from being able to claim the mortgage interest deduction on a tax return.»

First, it was that the company paid little to no state and local government taxes and then it was that the e-commerce company was a «scam» which costs the US Post Office and therefore the American people, billions of dollars a year.

Also in the hard - to - believe category is Alaska's plan to institute an income tax for the first time in 35 years to «close a $ 3.5 billion dollar deficit the state is carrying,» according to Zero Hedge.

Assuming that each dollar contributed reduces federal taxable income, and that a reduction in federal taxable income correspondingly decreases state taxable income, we can determine the minimum credit percentage states should offer to incentivize participants as a function of the federal and state marginal tax rates.

Regardless of the approach taken, I agree with Blackman and Stark in that the ability of a state to capture federal tax dollars via creative state tax credit initiatives is almost certainly bad tax policy when viewed from the national perspective.

[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.

For instance, during the recent stimulus bill, Billions of dollars in federal tax dollars were diverted to states to cover budget shortfalls, which had the indirect effect of preventing municipalities from declaring bankruptcy.

The tech giant has found a tax haven in the island of Jersey, leaving billions of dollars untouched by the United States, leaked documents reveal.

Under a 2015 agreement between the Department of Commerce and Economic Opportunity and The Advisory Board Co., the state gave a tax credit worth millions of dollars in exchange for 55 jobs.

That means that, while property tax rates in Fresno County are similar to those in the rest of the state, property taxes paid in dollar terms are far lower.

I, for one, agree that I do not want my tax dollars spent on a clear violation of seperation of church and state.

I'm not sure that with the already abysmal state of education in this country, why I should be expected to be tolerant while my children are taught falsehood and belief as fact, especially while my tax dollars are funding this education.

Unlike the United States, most democracies think this means that tax dollars should accompany every student whether they attend government - operated or privately operated schools.

Remember — all your southern redneck states are net consumers of federal taxes — for every dollar they pay in taxes, they get a buttload more back in aid.

The general public is seldom supportive of their tax dollars going to military expansion to the tune of $ 15 — 20 billion annually (their stated target of 4 % of the GDP).

Herbert Grover is the increasingly visible state superintendent of public instruction for Wisconsin and a man determined that no tax dollar shall be soiled by the hand of a parent on its way to school.