Sentences with phrase «federal exchange tax»

However, GAO estimates that 10 percent of these early claimers had incomes below the federal poverty level but lived in states that did not expand Medicaid and had incomes too low for federal exchange tax credits.

Not exact matches

The first case, known as Halbig v. Burwell, contests the tax subsidies individuals get through exchanges run by the federal government.

Although both appellants and the government argue that the ACA, read in its totality, evinces clear congressional intent, they dispute what that intent actually is... We conclude that the appellants have the better of the argument: a federal Exchange is not an «Exchange established by the State,» and section 36B does not authorize the IRS to provide tax credits for insurance purchased on federal Exchanges.

By authorizing tax credits to those who purchase on federal exchanges, the plaintiffs say, the IRS has exceeded its authority.

REITs don't pay federal income taxes on those earnings in exchange.

Under the first of those agreements, we generally will be required to pay to the Continuing LLC Owners approximately 85 % of the applicable savings, if any, in income tax that we are deemed to realize (using the actual applicable U.S. federal income tax rate and an assumed combined state and local income tax rate) as a result of (1) certain tax attributes that are created as a result of the exchanges of their LLC Units for shares of our Class A common stock, (2) any existing tax attributes associated with their LLC Units the benefit of which is allocable to us as a result of the exchanges of their LLC Units for shares of our Class A common stock (including the portion of Desert Newco's existing tax basis in its assets that is allocable to the LLC Units that are exchanged), (3) tax benefits related to imputed interest and (4) payments under such TRA.

Weakness in the U.S. currency rather than factors on the Canadian side are likely to be the primary catalyst for a slide in USD / CAD, according to BMO's global head of foreign - exchange strategy Greg Anderson, who cited a market that's gotten ahead of itself with regard to Federal Reserve tightening and a tax proposal that's likely to be dollar negative.

Member companies employ 1.4 million Canadians, account for more than half the value of the Toronto Stock Exchange, contribute the largest share of federal corporate taxes, and are responsible for most of Canada's exports, corporate philanthropy, and private - sector investments in research and development.

Federal Councillor Ueli Maurer and Mrs Carrie Lam, Chief Executive of Hong Kong SAR, met in Bern to strengthen bilateral cooperation in the area of financial markets and to exchange views on international financial and tax matters.

Our 150 member companies employ 1.7 million Canadians, account for more than half the value of the Toronto Stock Exchange, contribute the largest share of federal corporate taxes, and are responsible for most of Canada's exports, corporate philanthropy, and private - sector investments in research and development.

People pay federal taxes in exchange for federal services — the military, interstate highways, and Medicare, for example; they pay state and local taxes for state and local services — education, public parks, and law enforcement, for instance.

In June, New York state and city agencies announced $ 34 million in tax credits for Aetna — the health insurance giant that threatened to pull out of Obamacare exchanges as it tried to persuade federal regulators to approve a controversial merger.

New Jersey and other states considering a «millionaire's tax» have fresh reason to be cautious in the wake of the new federal law that limits the deductibility of state and local taxes — but it was already a bad idea, argues Jonathan Williams, chief economist at the American Legislative Exchange Council, and Ross Marchand at National Review.

Heastie, a Democrat from the Bronx whose party - mates dominate the chamber by a two - to - one margin, said higher taxes are necessary to fund increases in education and higher education spending and safeguard health insurance exchanges in the face of expected federal rollbacks.

And many customers shopping through New York State of Health, the ACA purchasing exchange, qualify for federal tax credits that will cushion the blow of any premium increases.

In exchange, the company received a package of state and federal tax credits, local property tax breaks, discounted power, and grants worth a combined $ 85 million.

Consistent with IRS guidelines, only the excess of the contribution over the fair market value of any items received in exchange for a contribution is deductible for federal tax purposes.

In exchange for their tax - exempt status, federal law bars 501 (c)(3) organizations from engaging in political activity, and some are calling on Schneiderman to investigate why Families for Excellent Schools made a multimillion - dollar contribution, now that the Massachusetts Office of Campaign and Political Finance has acted.

Under this scenario, individuals and businesses would receive a federal tax credit in exchange for donations to scholarship - granting entities that award working - class families funds for private school.

In exchange for their tax - exempt status, federal law bars 501 (c)(3) organizations from engaging in political activity, and some are calling on Schneiderman to investigate why Families for Excellent Schools made a multimillion - dollar contribution, now that

Form 1099 - B: Reports gross proceeds from the sale or exchange of fund shares, number of shares sold or exchanged, and federal income tax withheld.

Add to this the federal government's stated interest in creating more state - based retirement plans for the private sector and various other reforms coming down the pike, such as the Securities and Exchange Commission's (SEC) liquidity and money market fund reforms and key Affordable Care Act (ACA) deadlines — think Cadillac Tax — and it can make a benefit plan adviser's head spin.

It's important to note that you can only apply and receive a tax credit by applying on the federal exchange.

A sale or exchange of Fund shares is a taxable event, which means that you may have a capital gain to report as income, or a capital loss to report as a deduction, when you complete your federal income tax return.

A conversion from Investor Class shares to Institutional Class shares of the Fund or from Institutional Class shares to Investor Class shares of the Fund pursuant to the preceding paragraphs should generally not be a taxable exchange for federal income tax purposes.

Exemptions are generally granted when there is a loss on the sale of the property, a federal exclusion of the gain on the sale of a principal residence, the transaction involves a like - kind exchange, or for other situations resulting in no Maine income tax liability.

It says that «A U.S. holder's receipt of the merger consideration in exchange for shares of our common stock will generally be a taxable transaction for U.S. federal income tax purposes.»

The asset - backed securities issued by Navient Student Loan Trusts listed herein are registered with the U.S. Securities and Exchange Commission and all are subject to federal and state income taxes.

If the taxpayer sells this property for $ 210,000 and does not use a 1031 Exchange, the gain of $ 110,000 will require the payment of $ 16,500 in federal taxes alone.

Under the federal tax code, this is known as an IRC Section 1035 exchange.

Under the backup withholding provisions of Section 3406 of the Code, distributions of taxable net investment income and net capital gain and proceeds from the redemption or exchange of the shares of a regulated investment company may be subject to withholding of federal income tax in the case of non-exempt shareholders who fail to furnish the investment company with their taxpayer identification numbers and with required certifications regarding their status under the federal income tax law, or if the Fund is notified by the IRS or a broker that withholding is required due to an incorrect TIN or a previous failure to report taxable interest or dividends.

Your redemptions, including exchanges, may result in a capital gain or loss for federal tax purposes.

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For the avoidance of doubt, Gross Revenues shall (A) exclude monies received from any source other than the sale of electric energy and capacity, including, without limitation, any of the following: (i) any federal, state, county or local tax benefits, grants or credits or allowances related to, derived from, or granted to the Wind Energy Project or Grantee, including, but not limited to, investment or production tax credits, or property or sales tax exemptions, (ii) proceeds from financing activities, sales, assignments, partial assignments, contracts (other than the power purchase agreement) or other dispositions of or related to the Wind Energy Project (such as damages for breach of contract or liquidated damages for delays in project completion or failures in equipment performance), (iii) amounts received as reimbursements or compensation for wheeling costs or other electricity transmission or delivery costs, and (iv) any proceeds received by Grantee as a result of damage or casualty to the Wind Energy Project, or any portion thereof and (B) include any revenues derived from Grantee's sale of carbon dioxide trading credits, renewable energy credits or certificates, emissions reduction credits, emissions allowances, green tags, tradable renewable credits, or Green - e ® products, any of which are allocated to Grantee, if applicable, through its participation in any voluntary registry, association or market - based exchange.

«At least until states that wish to can set up Exchanges, our ruling will likely have significant consequences both for the millions of individuals receiving tax credits through federal Exchanges and for health insurance markets more broadly.»

Dennis has expertise in advising and representing commercial institutions and individuals being investigated by the Australian Federal Police, the Australian Securities Investment Commission, the Australian Transactions Reports and Analysis Centre Financial Reporting Centre, the Australian Tax Office, the Australian Criminal Intelligence Commission, the Commonwealth and State Director of Public Prosecutions, as well some of the largest law enforcement and financial regulators world - wide, including the US Department of Justice, the Securities Exchange Commission, the Federal Bureau of Investigation and the UK Serious Economic Fraud Unit.

As these platforms are linked to the federal data hub, HealthCare.gov, our agents can find out if you qualify for a plan on the exchange and tax credits to reduce your premium and medical costs.

Palanker said anyone shopping for health insurance, even outside of open enrollment, should contact their state or federal exchange to see if they are eligible for special enrollment and a a tax credit.

Under the health care law, people who earn between 100 % and 400 % of the federal poverty level are eligible for a premium tax credit when they purchase a plan through the exchange.

Donald Trump did away with cost - sharing reductions, but the ACA still provides premium tax credits to people who earn between 100 % and 400 % of the federal poverty level and purchase a plan through the exchange.

Buying the plan off - exchange lets you skip the surcharge, but if you qualify for the premium tax credit (meaning your income is between 100 % and 400 % of the federal poverty level), you have to buy a plan on - exchange to get it.

However, you can only apply for available tax credits and subsidies through the federal exchange (HealthCare.gov) or your state exchange; and you can only purchase personal coverage on the government exchanges during open enrollment periods or when you have a qualifying life event.

Shop for coverage through the insurance exchange in your state: If your income doesn't exceed 400 percent of the poverty level ($ 48,240 for a single individual in 2018), you may qualify for federal tax credits to help offset the cost of your premium.

Exchanging one contract for another is known as a 1035 exchange (named after Section 1035 of the federal tax code).

However, you may qualify for tax credits worth up to 50 % of your premium costs if you use the federal exchange.

The IRS recently filed suit in federal court against Coinbase, the largest Bitcoin exchange in the U.S., seeking information on possible tax evaders.

Among the several changes to the federal tax code passed in the last days of 2017, Congress expressly limited Section 1031 exchanges to apply to real estate only.

Currently, the Commodity Futures Trading Commission and the Securities Exchange Commission both regard cryptocurrencies as commodities in the U.S. Meanwhile, the Internal Revenue Service requires that gains from cryptocurrency are also subject to federal income tax rules.

account holders, who may have refrained from their federal tax duty on profits made via the virtual currency exchange.

Currently, the Commodity Futures Trading Commission and the Securities Exchange Commission both regard cryptocurrencies as commodities in the U.S. Meanwhile, the Internal Revenue Service required that gains from cryptocurrency are also subject to federal income tax rules.