Sentences with phrase «federal tax law because»

Both plans were quietly unveiled late Thursday night by Cuomo — after weeks of openly discussing the need for New York to create an end - run around the new federal tax law because of the new restrictions on state and local tax deductions.

Not exact matches

But taxpayers would, the argument goes, be allowed to fully deduct the amount on their federal tax returns because the new law still allows most charitable giving to be deducted for federal tax purposes.

The PMA supports a federal approach to sales tax reform because it will eliminate the Affiliate Nexus Tax laws that have devastated hundreds of thousands of affiliate marketers around the country, it is Constitutional, and it has a very good chance of passatax reform because it will eliminate the Affiliate Nexus Tax laws that have devastated hundreds of thousands of affiliate marketers around the country, it is Constitutional, and it has a very good chance of passaTax laws that have devastated hundreds of thousands of affiliate marketers around the country, it is Constitutional, and it has a very good chance of passage.

Like many blue - state Republicans, he voted against it primarily because of the new law's curtailment of the federal exemption for state and local taxes, a change that Cuomo has described in his letter as «an economic missile launched at the heart of the State of New York.»

This is because «the new federal law caps a deduction for state and local taxes that is especially popular in high - tax states like New York.»

That deduction had been popular in high - tax, Democratic states like New York, Connecticut and New Jersey, where many homeowners now face big increases in their federal tax bill.Cuomo said the lawsuit could argue the tax law violates states» rights and is unfair because it singles out Democratic states for political reasons.

Mr. Johnson said he would approach land - use decisions by trying «to get to a place of yes»; that he wanted to take steps to «eradicate hunger in New York City»; and that he would deal with the prospect of tighter budgets — because of the new federal tax law or a potential economic downturn — by guarding funding for «programs and everyday things that affect the most New Yorkers and the poorest New Yorkers, to ensure that they don't get cut.»

And he has kept up a steady stream of criticism about President Donald Trump and the Republican Congress in Washington, repeating his charges that the federal tax law unfairly punishes blue states like New York because of the loss of some state and local tax deductions.

In addition, Cuomo has kept up a steady stream of criticism about President Trump and the Republican Congress in Washington, repeating his charges that the federal tax law unfairly punishes blue states like New York because of the loss of some state and local tax deductions.

Maryland Attorney General Brian Frosh, D, announced Thursday that he will join several high - tax states planning to challenge the new federal tax law as illegal because it would «jack up» the amount many residents owe.

Because much of the state's tax code is based on the federal law, big changes included in the recent tax overhaul in Washington will have significant and in some cases unforeseen effects on the state's own tax code.

The new federal tax law negatively affects wealthy New Yorkers because they tend to itemize their deductions and the new higher standard deduction is not enough to cover what they pay in state and local taxes.

But because she had recently violated a section of the law that forbids lobbyists from sending people on expensive junkets (something about paying a congressman to go on an «educational» tour of Indonesia regarding taxes on palm oil), she is called up for a Senate hearing led by Senator Ron M. Sperling (John Lithgow), who is in the pocket of the gun people and seeks to send her to a federal penitentiary.

And, because most personal interest deductions have been eliminated under current federal tax laws, you can now deduct the interest from your taxes.

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.

So, the Bankruptcy and Insolvency Act does include income tax debts or tax related debts, because it's Federal law.

And, because most personal interest deductions have been eliminated under current federal tax laws, you may now be able to deduct the interest from your taxes.

This is because the Cavallo Point Fund itself does not have a charitable tax exemption under either federal or state law.

I can't be an activist, though, because for me «U.S. House passes Federal Lands Jobs and Energy Security Act of 2013» is mostly bad, but isn't really news; while «President signs substantive carbon tax into law» would really be news, and could be very good.

In a distressed area, these departments may be even more diligent in enforcing health and safety laws when they sell tax lien or abandoned houses because of federal and state funding used to subsidize those sales and gentrification.

(Note: These tax breaks don't apply to Hurricane Maria victims living in Puerto Rico, because the territory's residents are subject to different tax laws and, in most cases, don't pay federal income tax.)

This tax free status is something that is federal law put in place because of the inherent good of making families financially whole again upon the death of a loved one.

Under the old tax law, because the spouse receiving alimony or spousal maintenance is usually in a lower tax bracket after a divorce, more money stays with the divorcing couple rather than going to the Federal Government.

This is a significant development in family law, because during 2015, approximately 600,000 couples used the alimony deduction on their federal tax returns.