Sentences with phrase «federal tax burden by»
Trump's promise to end state and local deductions — one element of his tax reform blueprint unveiled in April — would raise taxes on over one million middle - class New Yorkers and increase the city's federal tax burden by a whopping $ 7 billion, according to a new analysis from NYC Comptroller Scott Stringer.
http://www.nystateofpolitics.com/ Not exact matches
Dear Minister Morneau, For decades, successive federal governments have recognized the need to ensure that Canada's business tax burden is competitive by international standards,...
According to the Congressional Budget Office (CBO), recent changes to tax policy and the budget will increase the U.S. Treasury debt burden by a combined $ 1.8 trillion over 10 years ($ 1.46 trillion from tax policy and $ 320 billion related to the recent federal budget increase, on a «gross» basis).
He is most enthusiastic about a tax - credit scheme by which individuals could contribute directly to poverty - fighting organizations and then have their federal tax burden decreased accordingly.
And he says there are state and federal earned income tax credits to offset burdens faced by low income workers.
Officials say that unless New York changes its tax code to delink it from the federal code, state taxpayers could see their tax burden increase by $ 1.5 billion — potentially worsening the pain to New Yorkers already dealing with the curbing of state and local tax deductibility.
GE had net operating losses at the height of the financial crisis that federal law allows them — and every other corporate taxpayer — to carry over to subsequent tax years so as not to unfairly burden it with the calendar set by bureaucracy.
In addition, snatching any of the federal tax break now promised to corporations while adding the burden of a statewide payroll tax could be opposed by companies the state is trying to keep in New York and help grow.
Generally, tax credits are used by corporations with large federal tax burdens to directly reduce the taxes they pay.
* Taxpayers who end up bearing the burden of taxes escaped by wind energy developers who take advantage of generous tax shelters (including federal production tax credits and accelerated depreciation), similar tax shelters provided by some states, property tax exemptions, and direct subsidies.
States who may have felt burdened by aspects of the federal tax reform may also look to implement changes to their state tax codes.