Sentences with phrase «of lost tax revenue»

The economic cost to the area in the form of lost tax revenue and job creation is higher.

Because the federal government allowed you to spend your entire working life depositing untaxed income into 401k accounts, the IRS wants to recoup some of that lost tax revenue at some point — and this is why RMDs exist.

However, a repeal or roll - back of DACA would harm the economy and cost the U.S. government a significant amount of lost tax revenue,» the study reads.

Eighty percent of lost tax revenues will be reimbursed in the first year declining to 20 percent by the seventh year.

The cost of lost tax revenues from individuals, small businesses and other corporations would be about $ 258 million.

Not exact matches

You can't make money running a showroom, and as brick and mortar stores close, jobs and tax revenue are getting lost — and even Amazon customers are losing something, in the form of a convenient place to check out products.

«Although I don't subscribe to the view that the tax cuts pay for themselves,» he says, «there's considerable evidence to suggest that the increased investment they produce will generate extra revenues to offset a substantial share of those lost to the tax cuts.»

The Organization for Economic Cooperation and Development estimated that these kinds of profit - shifting practices amounted to about US$ 100 billion - US$ 240 billion in lost tax revenue each year, equivalent to up to 10 per cent of global corporate income tax revenue.

That increase would help offset the $ 1.4 trillion in revenue that would be lost from cutting the corporate tax rate, another part of both the Senate and House plans.

«GDXJ has intermittently been in jeopardy of losing its preferential tax treatment (as a regulated investment company) since last September because its portfolio often doesn't comply with the diversification requirements of the U.S. Internal Revenue Code,» noted Scotiabank.

(Reuters)- Britain's revenue collector is preparing to abort its plans to tax Bitcoin trading only days after the currency's leading exchange, Mt Gox, collapsed after losing almost $ 500 million of customer deposits to hackers, the Financial Times reported.

In addition to the aforementioned reasons (to finance governmental spending and make up for lost tax revenue), the Treasury has wanted to hold a more robust cash - balance position as a matter of prudent policy in order to protect against a potential interruption in market access.

The front page of Fridayâ $ ™ s National Post reported, «The Conservatives will encourage the five provinces that do not have harmonized sales taxes — Ontario, British Columbia, Saskatchewan, P.E.I. and Manitoba — to take part by setting up a $ 5 - billion trust fund that would compensate them for lost revenue over the phase - in period.»

Connecticut loses tax revenue when people buy cars out of state.

«We certainly applaud government's efforts on easing the burden of high housing costs and increasing access to child care, but in introducing a payroll tax to offset lost MSP premium revenues this Budget delivers another meaningful blow to small to medium employers, especially in the service and technology sectors,» adds Black.

The city of San Francisco will lose $ 58 million in tax revenue over the next decade if it passes a controversial measure to limit Airbnb listings to 75 days, according to an Airbnb study.

a billion or two in foregone personal income tax (to say nothing of lost non-resident withholding tax income and lower revenue on the collapse of RRSPs / RRIFs).

Additional stabilization from unemployment insurance, although smaller in total magnitude than that from the tax system, is estimated to be eight times as effective per dollar of lost revenue because more of the money is spent rather than saved.

I'd love to see an analysis of the revenue loses under his optional flat tax.

The state lost tax revenue, and welfare costs for inmate - related families added still another layer of expenditures that governmental agencies had to build into their expanding criminal - justice budgets.

Think of the tax revenue the city is losing!

Simon Kirkland, Christian Aid UK parliamentary and political adviser, said: «Tax havens cost the UK economy billions of pounds in lost revenue each year.

We know that while consumers are strongly attracted to «free TV,» they also spend an enormous sum supporting it, through the purchase of their TV sets, the cost of electricity, and the add - on costs to every item they purchase which is advertised, not to mention the lost revenue in tax - deductible billions spent by advertisers.

On another occasion when after a revival in Wales the clergy resolved to put away their concubines, the bishop actually forbade them because he would lose the revenue derived from the tax on such infractions of the canon law.64 The abolition of clerical concubinage was a major item on the docket alike of the Protestant and the Catholic reformers of the sixteenth century.

Counterfeit Wine and Spirits «Cost EU Economy $ 3 Billion a Year» The counterfeiting of alcoholic drinks costs the European Union's member states an estimated $ 1.2 billion in lost revenue and taxes, according to a new report published by the European Union Intellectual Property Office...

This resulted in an employment decline of almost 1,200 workers, with $ 80 million in lost gross domestic product and a $ 4.5 million loss in local tax revenue.»

To quell theprotests, clubs have experimented with a variety of methods to increase income.Some catered to outside parties, but a year ago the Internal Revenue Serviceruled that any private club that derived 25 % of its income from nonmemberswould lose its nonprofit tax status.

In return for de-annexing the Orland Park properties, the Mokena Park District is to receive $ 600,000 in payments over the next four years from Orland Park to help offset some of the property tax revenue the Park District will lose.

In 2010, teen pregnancy and childbirth accounted for at least $ 9.4 billion in costs to U.S. taxpayers for increased health care and foster care, increased incarceration rates among children of teen parents, and lost tax revenue because of lower educational attainment and income among teen mothers.

Reed noted, of course, raising taxes to make up for the lost revenue from the federal government is an option but he doesn't believe state lawmakers would do that to constituents already facing a heavy burden.

The Chartered Institute of Taxation (CIOT) has drawn attention to official figures published today which show that almost five times more tax revenue is lost as a result of illegal activity than through tax avoidance.

I can not be alone in thinking that it would be more beneficial for the government to be spending their scarce pennies on recovering lost VAT and creating an education programme to make it easier for individuals - and businesses - to fill in their tax forms correctly, when a massive two - thirds (65.9 %) of the lost revenue comes from these areas.

HM Revenue and Customs lost up to # 1.74 billion of taxpayers» money in tax credit fraud, error and overpayments, according to official figures published yesterday.

Over time, the value of lost sales tax revenue would outstrip the Medicaid savings for an ever - growing share of counties.

«Even if we only lose a small number of high - income tax payers, that would cripple the state's revenues,» Mujica said.

New York faces a budget deficit of $ 4 billion to $ 8.6 billion and that is before taking into account billions more in revenue that will be lost due the recent federal tax reform package.

Mettler shows how Republican politicians, along with increasing numbers of Democratic accomplices, have expanded the submerged state because it gives the appearance of privatisation and governmental spending restraint, when in reality it represents vast outlays by government in subsidy payments and lost tax revenues.

The city wants the state to move forward with private development of the tax - exempt land or compensate it for the lost revenue.

Gambling companies have argued for years that New York loses billions of dollars a year to casinos in Connecticut and New Jersey, costing the state jobs and tax revenue.

The challenge to Cuomo came from Catherine Nolan, Rory Lancman and Barbara Clark, all of Queens, who argued that vital health - care and education spending would be lost if the $ 4 billion - plus in annual revenues produced by the «millionaire's tax» is allowed to expire at the end of the year.

«The major theme for everybody is taxes, and we have to focus on achieving better PILOT funding,» Santangelo said, referring to «payment in lieu of taxes,» a compensation for revenue lost due to tax exempt property.

Many of the same warnings Mario Cuomo heard in the 1980s about Shoreham are the same ones his son hears today from supporters of Indian Point: Closing a nuclear plant will result in blackouts, a less reliable electric grid and increased air pollution as fossil fuels are burned to replace the lost emissions - free nuclear power; customers could face higher bills; more than 1,000 jobs will be lost, and tax revenue for schools and towns will dissipate.

The new tax would be «a statewide assessment on counties» to replace that $ 2.3 billion in lost annual Medicaid revenue, and it could take one of several forms, the aide said.

I think the issue in Albany can be especially appreciated this time of year when residents are our enjoying the amenities that Erie County has to offer that would be threatened if we lost a portion of sales tax revenue.

«It is also essential that the Governor and New York business, labor and civic leaders work with President Bush, the New York Congressional delegation, and the leaders of the U. S. House and Senate to secure direct federal assistance for the tax revenue that the state is losing as a direct result of the September 11 attacks,» said Mauro.

He said New York could lose billions of dollars in revenue and some of the state's wealthiest residents, who might choose to switch their primary residence to lower - tax states.

Mr. Dunleavy, who has been critical of the proposed zone change in the past, said after the event that he supports the Family Community Life Center, but on the issue of the housing, he said the town needs to get payments in lieu of taxes from the church, because the town is losing $ 500,000 to $ 600,000 per year in tax revenue otherwise.

Figures I commissioned from the House of Commons Library suggest that this could be costing us # 4.7 billion pounds a year in lost tax and national insurance revenue, and extra benefits and tax credits including 1.8 billion pounds a year on Housing Benefit alone.

Replacing income taxes with am employer payroll tax, leaving Washington, not Albany, on the hook for billions of dollars in lost revenue, might sound good, but the idea floated by the governor is already running headlong into a barrage of practical questions about how precisely such a switcheroo might work.

A clear alternative, that does not involve throwing tens of thousands of public sector workers onto the dole — a move that would cost more than ten billion in lost tax revenue and increased state benefit payments.