Sentences with phrase «of federal tax revenues»

Overview of federal tax receipts: the composition of federal tax revenues, the income distribution of tax shares and liability, and the changes in total tax burden and as a percentage of GDP over time.

Not exact matches

By paying workers as independent contractors when they should be paid as employees, federal, state and local governments potentially miss out on tax revenue they would otherwise collect; this tax gap was the focus of a special report to Congress in 2011 and continues to be an area of focus today.

Canada is almost certainly in a recession, which will take billions out of federal coffers due to declining tax revenues.

The government expects the anti-smoke move will increase federal tax revenues by $ 685 million in 2014 - 15 — a major piece of the puzzle in Tory efforts to balance the books over the next two years.

WASHINGTON, Oct 9 - A top Senate Democrat on Tuesday said new tax revenues should go to reducing the federal deficit, not cutting tax rates, dismissing as «obsolete» a Reagan - era model of tax reform.

It would also sap provincial and federal governments of needed tax and royalty revenue, hurting their balance sheets.

And all of them argue that the proposed tax cuts, estimated to reduce federal revenue by more than $ 1.4 trillion, won't increase federal deficits, an assertion that's been contradicted by Congress's official tax scorekeeper.

In 2013, oil and gas accounted for 68 % of Russia's total exports, while duties on those exports, combined with taxes on mining, accounted for 50 % of the federal government's revenue.

«Canada's media and cultural industries are being severely damaged by the tax loopholes that benefit foreign digital companies and platforms at the expense of Canadian producers and workers and that cost the federal government at least $ 1 billion in revenues,» the union wrote in a statement on its website.

The University of Pennsylvania's Wharton School model found that the current iteration of the Senate's tax bill, called the Tax Cuts and Jobs Act, would decrease federal revenue and add to the national debt outside of a 10 - year windtax bill, called the Tax Cuts and Jobs Act, would decrease federal revenue and add to the national debt outside of a 10 - year windTax Cuts and Jobs Act, would decrease federal revenue and add to the national debt outside of a 10 - year window.

Tax revenue in the order of $ 80 billion over that period, of which only $ 6.7 billion would accrue to B.C. versus $ 36 billion to the federal government and $ 32 billion to the province of Alberta.

Policymakers have bemoaned that companies make money in foreign companies but avoid having to pay federal tax on that income, which robs the U.S. Treasury of revenue.

Republican presidential candidates Rick Perry and Michelle Bachmann have both suggested that Washington should instead turn to the nearly half of American households that pay no federal income tax to raise revenue.

The federal government will keep up to $ 100 million on the new taxes as part of a cost sharing split that will see three - quarters of cannabis tax revenue flow to provinces and territories.

Eliminating the state and local tax deduction would raise about one - quarter of the $ 4 trillion in revenues that some Republicans say they need to prevent tax cuts from creating a massive increase in the federal budget deficit.

Between 1980 and 2012, the share of federal revenue derived from corporate tax revenue fell to 13.6 % from 15.2 %.

If we assume the average federal tax rate on capital income is 25 per cent (most capital income is taxed in the higher 22 per cent, 26 per cent and 29 per cent tax brackets), this yields a revenue cost of $ 6.6 - billion, or 7 per cent of federal income tax revenues.

Two programs administered by the federal government and financed out of general tax revenues comprise the first pillar: Old Age Security (OAS) and the Guaranteed Income Supplement (GIS).

debt obligations of the U.S. government that are issued at various intervals and with various maturities; revenue from these bonds is used to raise capital and / or refund outstanding debt; since Treasury securities are backed by the full faith and credit of the U.S. government, they are generally considered to be free from credit risk and thus typically carry lower yields than other securities; the interest paid by Treasuries is exempt from state and local tax, but is subject to federal taxes and may be subject to the federal Alternative Minimum Tax (AMT); U.S. Treasury securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected Securities (TIPS), and Treasury Auctitax, but is subject to federal taxes and may be subject to the federal Alternative Minimum Tax (AMT); U.S. Treasury securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected Securities (TIPS), and Treasury AuctiTax (AMT); U.S. Treasury securities include Treasury bills, Treasury notes, Treasury bonds, zero - coupon bonds, Treasury Inflation Protected Securities (TIPS), and Treasury Auctions

Section 162 (m) of the Internal Revenue Code imposes limitations on the deductibility for corporate federal income tax purposes of remuneration in excess of $ 1 million paid to the chief executive officer, chief financial officer and each of the three next most highly compensated executive officers of a public company.

If the Conservatives hadn't touched the federal corporate tax rate when they took office in 2006 — if they'd kept it at 21 per cent instead of lowering it to 15 per cent — government revenues would be $ 13 billion higher, the Canadian Labour Congress argued in a paper last January.

These retirement tax breaks amount to a significant loss of tax revenue for federal, state, and local government budgets.

The Congressional Budget Act of 1974 defines tax expenditures as «revenue losses attributable to provisions of the Federal tax laws which allow a special exclusion, exemption, or deduction from gross income or which provide a special credit, a preferential rate of tax, or a deferral of tax liability.»

«Each one percentage point cut to the corporate income tax rate costs the federal government about $ 2 billion in annual revenues,» wrote the authors, one of whom was CLC chief economist Andrew Jackson...

Nominal gross domestic product, the broadest measure of the tax base for federal revenue, is projected to be about 6 per cent higher in 2010 than in 2009, which should impact positively on federal revenues.

The federal tax schedule is constructed in accordance to the Internal Revenue Code of 1986.

Increased export prices also tend to boost government revenues through company taxes and a range of federal and state royalties.

The replacement of the federal manufacturer's sales tax with the Goods and Services Tax in 1991 removed economic distortions and provided the government with a more reliable and stable revenue sourtax with the Goods and Services Tax in 1991 removed economic distortions and provided the government with a more reliable and stable revenue sourTax in 1991 removed economic distortions and provided the government with a more reliable and stable revenue source.

The payments and benefits provided under his executive agreement in connection with a change in control may not be eligible for a federal income tax deduction for the company pursuant to Section 280G of the Internal Revenue Code.

In summary, the likely results of sales - tax harmonization would be: huge savings for business, mostly unrelated to productivity - enhancing investment; slightly higher consumer prices;  lower provincial revenues; and $ 5 billion less for important federal programs.

The components of nominal GDP represent the applicable tax bases for personal and corporate income tax revenues, which represent about 60 % of total federal revenues.

«They were the greatest (approaching 95 % at times) source of federal revenue until the Federal income tax began after 1913.federal revenue until the Federal income tax began after 1913.Federal income tax began after 1913.»

Because of the limitations of Internal Revenue Code Section 162 (m), we generally receive a federal income tax deduction for compensation paid to our chief executive officer and to certain other highly compensated officers only if the compensation is less than $ 1,000,000 per person during any fiscal year or is «performance - based» under Code Section 162 (m).

Even though federal corporate tax rates have fallen by more than half over the past 30 years, corporate income tax revenues have continued to fluctuate around two per cent of GDP.

By 1946, direct taxes accounted for more than 56 per cent of federal revenue.

Evan Solomon: The government of Alberta, they point to these statistics: the oil sands creates $ 307 billion in tax revenue, $ 187 billion for the federal government, 23 % of employment is from oil sands, 7 % of employment in Canada from the oil sands and in Ontario alone, 7 %, they say, of employment comes from the oil sands and they say royalties of $ 1.9 billion fund programs across the country.

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.

Revenue: Federal government revenue consists of taxes, mandatory fees, licenses, fines, and Federal Reserve eaRevenue: Federal government revenue consists of taxes, mandatory fees, licenses, fines, and Federal Reserve earevenue consists of taxes, mandatory fees, licenses, fines, and Federal Reserve earnings.

The committee helps draft legislative proposals, estimates the revenue effects of all tax legislation considered by the Congress, and examines various aspects of US federal taxes.

Federal jurors in Philadelphia in January 2008 convicted Crim and two associates in a plot to have investors use phony trusts to cheat the IRS out of roughly $ 10 million in tax revenue.

If you are, say, Dalton McGuinty, Jean Charest or Christy Clark, you should adamently oppose any increases in federal corporate taxes since you'll bear, depending on your preferred model, some or all (and then some) of the cost of increased federal corporate tax revenue.

The federal review of tax expenditures was announced in last year's budget alongside a pledge to give the Canada Revenue Agency more money to fight offshore tax evasion.

That change would have raised revenue to help Republicans offset the losses from the massive rate cuts, and some proponents of it argued that the state and local tax deduction (known as «SALT») amounted to a federal subsidy of high - tax states.

Special tax treatment of dividend income costs a lot in terms of foregone government revenues, mainly benefits the very affluent, and thus merits serious re-consideration as part of the federal government's current review of tax expenditures.

In other words, corporate income tax revenues as a share of federal government revenues are on track to rise by 15 per cent in five years.

What's more, government forecasts show corporate income tax revenues climbing by roughly a third between now and 2015 - 16 — at which point they will account for 12.2 per cent of total federal budgetary revenues.

For example, the federal government's most recent Fiscal Monitor shows that in the first eight months of 2011 - 12, corporate income taxes generated 10.6 per cent of total federal government revenues.

«If they were at the same 21 percent share of corporate profits as they had averaged in the two decades before these cuts, the federal government would have about $ 25 billion more in corporate tax revenues annually.

  In fact, as a share of our economy and of corporate profits, federal tax corporate tax revenues were 31 and 30 percent lower respectively last year than they were in 2007/8.

In fact, as a share of our economy and of corporate profits, federal tax corporate tax revenues were 31 and 30 percent lower respectively last year than they were in 2007/8.