Sentences with phrase «state tax purposes»

Accordingly, if you properly complete a Sec. 1031 like - kind exchange, NJ will respect the tax deferral for state tax purposes.

The advisory states that the repatriation transition tax is not deferrable for Rhode Island state tax purposes.

Such adjustments are required only if the shareholder invests in a bank that (1) is subject to the Virginia Bank Franchise Tax for state tax purposes (Va..

Whatever exemptions an employee claims for federal tax purposes should also be used for Oregon state tax purposes.

The amount of the discharged debt will be considered income for federal tax purposes and possibly for state tax purposes.

Unless you live in one of the states without an income tax, you will have another chunk of your income taken out for state tax purposes.

The credit allowed by this section is in lieu of any deduction pursuant to section 170 of the internal revenue code and taken for state tax purposes.

Not exact matches

In order to help build credible links for him as part of our ongoing SEO link building strategy, we submitted useful content to the New York State Restaurant Association (NYSRA) for the purpose of acquiring an external link on their website's Restaurant Tax Center page, which the IRS actually helped to create.

You were married in a state that recognizes same - sex marriage, you are considered «married» for Federal income tax purposes.

Notice 2014 - 21 answered 16 questions, but also provided an avenue for answering even more, by stating that virtual currency is to be treated as property for federal tax purposes.

Desert Newco is currently, and will through consummation of the reorganization transactions, be treated as a partnership for U.S. federal and most applicable state and local income tax purposes.

Individuals in other arrangements, such as civil unions, registered domestic partnerships, or other similar arrangements, that aren't recognized as a valid marriage under relevant state law won't be treated as married or as spouses as defined in this policy for federal tax purposes.

The Company is treated as a partnership for U.S. federal and most applicable state and local income tax purposes.

Desert Newco is currently, and will be through consummation of the Reorganization Transactions, treated as a partnership for U.S. federal and most applicable state and local income tax purposes.

It is important to repeat that that states already impose a payroll tax for unemployment insurance purposes, and many localities impose an additional payroll tax as well — and employers currently can claim a deduction for their portion of these taxes.

GLPI elected to be taxed as a real estate investment trust («REIT») for United States federal income tax purposes commencing with the 2014 taxable year.

Our effective tax rate differs from statutory rates primarily due to our pass - through entity structure for U.S. income tax purposes, while being treated as taxable in certain states and various foreign countries as well as for certain subsidiaries.

Furthermore, we will calculate the state and local income tax savings by applying this 5 % rate to the reduction in our taxable income, as determined for U.S. federal income tax purposes, as a result of the tax attributes subject to the TRAs.

For purposes of calculating the income tax savings we are deemed to realize under the TRAs, we will calculate the U.S. federal income tax savings using the actual applicable U.S. federal income tax rate and will calculate the state and local income tax savings using 5 % for the assumed combined state and local rate, which represents an approximation of our combined state and local income tax rate, net of federal income tax benefit.

According to the statute's own language, it was designed with the «purpose of reducing the need for future tax increases, maintaining the highest possible bond rating, reducing the need for short term borrowing, providing available resources to meet State obligations whenever casual deficits or failures in revenue occur, and providing the means of addressing budgetary shortfalls.»

However, individuals in other arrangements, such as civil unions, registered domestic partnerships, or other similar arrangements, that are not recognized as marriage under the relevant state law, will not be treated as married or as spouses as defined in this policy for federal tax purposes.

The Municipal Securities Rulemaking Board (MSRB) writes investor protection rules and other rules regulating broker - dealers and banks in the United States municipal securities market, including tax - exempt and taxable municipal bonds, municipal notes, and other securities issued by states, cities, and counties or their agencies to help finance public projects or for other public policy purStates municipal securities market, including tax - exempt and taxable municipal bonds, municipal notes, and other securities issued by states, cities, and counties or their agencies to help finance public projects or for other public policy purstates, cities, and counties or their agencies to help finance public projects or for other public policy purposes.

While it might sound boring, this distinction means that the Roth 401 (k) is, for all intents and purposes, one of the single best tax shelters ever devised in the history of the United States.

SARS goes on to state that due to the increased attention and speculation regarding the future of cryptocurrencies it is required to provide direction as to how South Africa treats the market for tax purposes.

Pretty strong language, but no stronger than the metaphor Daniel Mitchell of the Heritage Foundation used, in an op - ed article in The Washington Times, to «describe a bill designed to prevent corporations from rechartering abroad for tax purposes: Mitchell described this legislation as the «Dred Scott tax bill,» referring to the infamous 1857 Supreme Court ruling that required free states to return escaped slaves.

... Anyone who thinks marriage is something sacred needs to recognize that from the church's perspective all marriages granted by the state for tax and inheritance purposes are just civil unions by another name.

Jesus did not cut taxes, and if you ever cracked open a bible in your life you would know he defended the tax collectors O, if you had a shred of honesty, more likely, you could admit that Jesus purpose on earth was not to cut taxes, but your perpetual state of hypocrisy forbids that.

Because tax inversion has been a hot topic this year, Burger King's Facebook followers have let them know they will not support the chain if its purpose is to evade paying taxes in the United States.

Both Tailor and Dirk Van Beek, representing Dixmoor voters, argued that the park district could be dissolved under state law since the district failed to hold regular meetings for the last five years, failed to acquire and maintain land for park purposes, failed to have a planned program of recreation and failed to pass an annual budget and act to levy taxes.

In libertarian states the army (or security agency) would be paid with taxes (if we accept taxes for some purposes) or voluntary fee (if not).

We want it clear, not hidden and a rebalancing away from the deeply unpopular state sponsored multiculturalism which makes an assault on Englishness its avowed aim and taxes us for the purpose.

For the collection of state income taxes, adjusted gross income and itemized deductions are based off the federal IRC, with adjustments for state purposes.

Taxes collected exclusively downstate for the express purpose of funding transit were re-routed to the state's general fund.

The only decent argument for repealing the payroll tax is that the state has raided it for non-MTA purposes.

Instead of immediately rebating the stock transfer tax to traders, the state should keep its $ 15 billion revenues for public purposes.

«The proposed amendment to section 9 of article 1 of the Constitution would allow the Legislature to authorize up to seven casinos in New York State for the legislated purposes of promoting job growth, increasing aid to schools, and permitting local governments to lower property taxes through revenues generated.

Since contributions would be both deductible and trigger the credit, the effective credit would be between 91 percent and 94 percent.31 This proposal provides relief from the SALT cap because the contribution can be deducted from income for federal tax purposes, just as the State and local tax was prior to TCJA.

However, pollster Steve Greenberg says that when given the specific wording of the amendment on the ballot in November and asked whether they would vote yes or no to approve an amendment to «allow the Legislature to authorize up to seven casinos in New York State for the legislated purposes of promoting job growth, increasing aid to schools, and permitting local governments to lower property taxes through revenues generated,» 55 percent said yes they would approve it, compared to 42 percent who say no they would not.

«The state will not be able to utilize tax revenue generated from it for other purposes.

And in New Jersey, where local property taxes are a much bigger concern than state income taxes, incoming Democratic governor Phil Murphy and two Democratic congressmen have floated a proposal to create a charitable foundation similar to the one being contemplated for California and New York, but with property - tax purposes targeted and a new state tax credit created against property - tax liability.

«I believe that it is important that the Treasury and the IRS issue guidance or a formal opinion letter whether taxpayer contributions to state authorized trust funds, partially reimbursed by credits reducing state and local income taxes, will be considered deductible for federal tax purposes,» Faso wrote in the letter.

The legislation, spearheaded by the state Senate Budget and Appropriations Committee, permits municipalities, counties or school districts to establish charitable funds for specific purposes to which New Jersey's property tax owners can contribute.

Dr. Jo Ivy Boufford, who chairs the panel that drafted the plan, said its purpose is to «educate» rather than strongarm state and local officials to raise taxes or adopt its other recommendations.

New York State already provides tax credits for many other purposes, including film and TV production, job creation, economic development and domestic beer brewing.

K - 12 education is the largest line item in most state budgets, representing 22 percent of total state spending and more than a third of general fund expenditures (money that comes from state taxes and is not earmarked for specific purposes).

Finally, the author recommends funding the WPCP through the state's general - purpose revenue, paying for statewide school vouchers through state taxes instead of placing the burden on taxpayers living in communities where students receive vouchers.

Two Illinois courts of appeals held that Illinois» tax credit for educational expenses is constitutional because it has a clearly secular legislative purpose of ensuring a well - educated citizenry and relieving public expense, has the primary effect of effectuating those purposes, and involves no more government entanglement with religion than many other state tax laws.

The Utah State Board of Education approved the appointment of Utah State Office of Education Property Tax and Minimum School Program Specialist Cathy Dudley as the Board's representative for redevelopment agency and taxing entity committee purposes.

Careful examination of how our tax dollars are spent, and guarding against hidden agendas that come with grants and donations, remain crucial, no matter who gives money or what the stated purpose may be.

In 2006 she co-wrote the citizen's ballot initiative that created First Things First (FTF), which set aside Arizona's tobacco tax monies for children birth to five and created a state agency whose purpose is to ensure all Arizona children start kindergarten prepared to be successful in school and in life.