Sentences with phrase «in federal taxation»

The education section lists participation in a federal taxation course.

At the end of this calendar year, substantial changes in Federal taxation and spending are scheduled to become law.

Not exact matches

«We could have people on the lower range whose federal taxes will go up a considerable amount who are now paying a share of the AMT,» says Bernadette Schopfer, director of taxation for Maier Markey & Juspic in White Plains, New York.

Tax reform of this magnitude is the biggest change we've seen in a generation and will require intense focus to understand not only how the changes apply at the federal level, but also to navigate the ripple effect this is likely to have on state taxation as well.

As reported in the Globe and Mail on October 31, federal Finance Minister Flaherty is reviving and polishing - up the Conservative Party's ill - conceived election proposal to end taxation of individual capital gains if the proceeds are re-invested.

In addition to federal employment taxes like FICA and FUTA also applying, independent contractors are subject to the same self - employment taxation standards.

The federal Budget changed the rules a bit re the taxation of passive investment income in private corporations, but falls well short of what was promised in terms of extra revenues and more tax fairness.

It does not discuss all aspects of U.S. federal income taxation that may be relevant to particular holders in light of their particular circumstances or to holders subject to special rules under the Code (including, but not limited to, insurance companies, tax - exempt organizations, financial institutions, broker - dealers, partners in partnerships (or entities or arrangements treated as partnerships for U.S. federal income tax purposes) that hold HP Co. common stock, pass - through entities (or investors therein), traders in securities who elect to apply a mark - to - market method of accounting, stockholders who hold HP Co. common stock as part of a «hedge,» «straddle,» «conversion,» «synthetic security,» «integrated investment» or «constructive sale transaction,» individuals who receive HP Co. or Hewlett Packard Enterprise common stock upon the exercise of employee stock options or otherwise as compensation, holders who are liable for the alternative minimum tax or any holders who actually or constructively own 5 % or more of HP Co. common stock).

Nevertheless, while the post-1972 federal taxation system bears little resemblance to that advocated in the Carter report, the report's influence is reflected in the partial taxation of capital gains and changes in tax administration.

It authorized the creation of fiat money to the tune of nearly five million dollars a month, and it passed a 50 % increase in tax rates in the principal form of federal taxation, the tariff.

The potential tax benefits from investing in MLPs depend on their being treated as partnerships for federal income tax purposes and, if the MLP is deemed to be a corporation, then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the fund which could result in a reduction of the fund's value.

The danger the United States faces today is that the government debt crisis scheduled to hit Congress next spring (when Republicans are threatening to vote against raising the federal debt limit as the government deficit soars) will provide an opportunity for the wealthy to give a coup de grace on what is left of progressive taxation in this country.

For more information on the federal corporate income taxation in Canada, contact the Canada Revenue Agency, 325 Broadway, Winnipeg, 1-800-959-5525 or visit the Canada Revenue Agency Web site.

Boris Bittker, in an important 1976 Yale Law Journal article, «The Exemption of Nonprofit Organizations from Federal Income Taxation,» states the correct concept: «The exemption of nonprofit organizations from federal income taxation is neither a special privilege nor a hidden sFederal Income Taxation,» states the correct concept: «The exemption of nonprofit organizations from federal income taxation is neither a special privilege nor a hidden sfederal income taxation is neither a special privilege nor a hidden subsidy.

Their hot issues are gun control, taxation, and the federal raid on the Branch Davidian compound in Waco.

Based in Washington, DC, our Alcohol Beverages & Products Group represents clients in federal, state and international matters concerning the licensing, production, taxation, transportation, distribution, labeling, advertising and marketing of alcohol products.

Speaking outside a suburban home in Albany County, Sen. Chuck Schumer and Gov. Andrew Cuomo called the federal plan to get rid of the state and local tax deductions «double taxation.»

Cuomo on Wednesday said he will challenge the new law in court as unconstitutional on the grounds that the first federal double taxation in U.S. history violates states» rights and equal protection.

«We believe it is illegal and we will challenge it in court as unconstitutional... the first federal double - taxation in history, violative of states» rights and the principle of equal protection.»

Deutsch says the heirs to someone with a $ 10 million estate could see a 50 percent reduction in the estate taxes they would pay, if New York raises the threshold for taxation to the $ 5.25 million now in federal law.

DiNapoli said getting rid of the provision, which has been in existence as long as the nation has had a federal income tax, would result in double taxation for New Yorkers.

«The full or partial repeal of SALT would upset the carefully balanced fiscal federalism that has existed since the creation of the tax code, and it will result in unprecedented double taxation on taxpayers, forcing them to pay a federal tax on monies already paid in state and local taxes,» the letter states.

Speaking outside a suburban home in Albany County, Senator Chuck Schumer and Governor Andrew Cuomo called the federal plan to get rid of the state and local tax deductions «double taxation.»

Miele has been imploring local officials to find an attorney who'll take the entire MTA taxation system to court, and believes we can win in federal court.

DiNapoli says getting rid of the provision, which has been in existence as long as the nation has had a federal income tax, would result in double taxation for New Yorkers.

Federal investments in scientific research and higher education programs have been curtailed as discretionary spending caps have been imposed in the absence of significant reforms to mandatory spending programs and taxation.

The power of federal taxation clearly is a power of the federal government, but nonetheless some conservatives — sensitized by numerous overreaches during the Obama era in the area of education — are urging that any national scholarship tax credit be subject to approval on a state - by - state basis.

(c) The Secretary, in consultation with the Secretary of Housing and Urban Development, and subject to the provisions of section 306, is authorized to insure up to 100 per centum of any mortgage (including advances on such mortgage during construction) in accordance with the provisions of this section upon such terms and conditions as he may prescribe and make commitments for insurance for such mortgage prior to the date of its execution or disbursement thereon, except that no mortgage of any public agency shall be insured under this section if the interest from such mortgage is exempt from Federal taxation.

A key step in understanding Canadian investment taxation is knowing the cutoffs for each tax bracket, so I'm going to include both the federal and Ontario tax brackets here (since Ontario is by far the most populous Canadian province and their tax information will thus benefit the most people).

(B) «Credit repair services organization» does not include: (i) Any person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States; (ii) Any bank or savings and loan institution whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation; (iii) Any nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681 - Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation; (iii) Any nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681 - Federal Deposit Insurance Corporation; (iii) Any nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681 - federal Fair Credit Reporting Act (15 U.S.C. 1681 - 1681t).

If you have received the above assessment once, the next time it happens you can get something like this: «Every person who fails to report an amount required to be included in income, and who has failed to report such amount on a return (think T3 slip) for any of the three preceding taxation years, is liable to both a federal and a provincial / territorial penalty each equal to 10 % of the amount that must be included in income.

A deed - in - lieu is subject to federal taxation.

When the federal income tax law was adopted in 1913, the interest income on most municipal bonds was excluded from federal taxation.

(1) The following shall be exempt from the Credit Services Organization Act: (a) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 - 1217.

With the federal estate tax exemption at $ 5,450,000 in 2016, federal taxation is probably not an issue for most people.

This is one of the few instances in which a person can pay the expenses of a non-dependent child without subjecting the transfer to Federal gift taxation.

These changes promise several hundred billion dollars in reduced federal spending and increased taxation.

Moreover, in this line of cases, there already had been a decision that adopts a two - part test for bona fide tax - exempt nonprofit credit counseling agencies, requiring such agencies to: (1) be recognized by the IRS as being exempt from federal income taxation under section 501 (c)(3) of the Internal Revenue Code; and (2) actually operate as a bona fide nonprofit organization.

«Credit Services Organization» does not include any of the following: (i) a person authorized to make loans or extensions of credit under the laws of this State or the United States who is subject to regulation and supervision by this State or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act of 1987.

And there are some pros there, but the taxation of it — it just adds another layer because if I have a pool of money, let's say in my 401 (k) plan, I pull those dollars out, I'm taxed at state levels, federal level, at the full boat.

Oxfam's report made a number of suggestions for the government to implement in its next federal budget, including progressive taxation — a system used in Nordic countries, where those with higher incomes pay a greater portion of that income in taxes.

For instance, some states exclude all federal, military and in - state government pensions from taxation.

In avoiding the double taxation, any dividend ADR investor should claim a foreign - tax credit on their federal tax return.

Federal Gross Estate: The property that is included into the calculation for determining the decedent's property that is subject to Federal estate taxation (generally speaking that is comprised of property owned by the decedent at death, property in which the decedent had any incidents of ownership, life insurance death benefit proceeds, and certain gifts).

Learn about how the federal government simplified its proposals for taxation of passive investment income in its 2018 - 19 budget.

Under the generous federal 5 - year double declining balance accelerated depreciation allowed for capital investments in commercial wind electric facilities, FPLEnery (or its parent company) will be able to shelter significant income from federal taxation.

«We believe it is illegal and we will challenge it in court as unconstitutional... the first federal double - taxation in history, violative of states» rights and the principle of equal protection.»

Jared's tax practice focuses on representing taxpayers in federal and state taxation audit and controversy matters before state taxing authorities and the Internal Revenue Service.

While at Gorge Washington, I focused my coursework in the areas of federal taxation and trust and estate law.

Star alumni: Former Metro chairman «Big Daddy» Frederick Gardiner; Superior Court justices J.J.J. Fitzpatrick and William J. Anderson; former Ontario Court of Appeal justice Lloyd Holden; Ronald J. Farano, who worked on policies preceding a significant overhaul to Canada's federal taxation system in the early 1970s.