Sentences with phrase «tax code also»

The 1031 tax code also applies to property held internationally when replaced with property held overseas.

The reshuffling of the tax code also enabled $ 1.5 billion in needed revenue to go toward paying down the expected $ 3.5 billion gap in the coming 2012 - 13 fiscal year, which begins April 1.

The tax code also has sections almost as long as the entire tax code applicable to ordinary individuals who earn wages and salaries to cover specialty topics like how to determine the taxable income of an insurance company.

Rising hopes for an overhaul of the US tax code also helped spur dollar strength.

The tax code also permits the owners of a corporation, however small, to use his or her company to shelter income from passive investments, and to convert surplus revenue into capital gains, which are taxed at lower rates than income.

Not exact matches

The refund thieves may also try to claim your tax refund next year, so if you're a victim get a verification PIN code from the IRS that you must use to file future returns.

Its staff posed the following question: If the U.S. created a tax code that eliminated virtually all personal and corporate tax breaks, and also required that the plan be revenue neutral ---- meaning that receipts in 20 years had to match the numbers forecast today ---- how low could rates go?

Romney would also reform the tax code, first by eliminating the minimum deductible requirement for health savings accounts paired with catastrophic coverage, then by allowing a full deduction for all qualified medical expenses, which would include premiums, co-payments, and out - of - pocket spending.

While Barclays said the reduction in the tax rate is expected to «positively impact» its future post-tax earnings in the United States, it also cautioned that the Base Erosion Anti-Abuse Tax (BEAT), which was included in the legislation and designed to prevent multinational firms from abusing the tax code, could significantly offset that beneftax rate is expected to «positively impact» its future post-tax earnings in the United States, it also cautioned that the Base Erosion Anti-Abuse Tax (BEAT), which was included in the legislation and designed to prevent multinational firms from abusing the tax code, could significantly offset that beneftax earnings in the United States, it also cautioned that the Base Erosion Anti-Abuse Tax (BEAT), which was included in the legislation and designed to prevent multinational firms from abusing the tax code, could significantly offset that benefTax (BEAT), which was included in the legislation and designed to prevent multinational firms from abusing the tax code, could significantly offset that beneftax code, could significantly offset that benefit.

Congressional Republicans have also proposed an overhaul of the tax code that would penalize companies by taxing the goods and raw materials they import while exempting them from taxes on revenues from exports.

See also IRS Announcement 2017 - 04 (March 27, 2017), I.R.B. 2017 - 16 (April 17, 2017), which provides relief from certain excise taxes under Code section 4975 and any related reporting requirements to conform to the Department's position in EBSA Field Assistance Bulletin 2017 - 01.

The social network also said it had taken a $ 2.3 billion charge to cover the repatriation of foreign earnings under the new tax code that was signed into law last month.

For years prior to 2018, we also were permitted to receive a tax deduction for «performance - based» compensation as defined under Code Section 162 (m) without regard to the $ 1,000,000 limitation.

The budget also includes several smaller tax proposals such as eliminating marriage penalties in the tax code and introducing universal tax - free savings accounts, presumably on a revenue - neutral basis.

Mr. Cook is also expected to argue that some of Apple's largest subsidiaries do not reduce Apple's tax liability, and to press for a sweeping overhaul of the United States corporate tax code — in particular, by lowering rates on companies moving foreign overseas earnings back to the United States.

These payments and benefits also may be subject to an excise tax under Section 4999 of the Internal Revenue Code.

While depreciation will be worth less at the lower corporate tax rate, NRF also notes that under the new tax code the full cost of equipment can be written off immediately, for any equipment acquired and put into service after September 27, 2017.

However analyses by law firm Norton Rose Fulbright (NRF) and Fitch Ratings show that a number of other changes to the tax code will also have significant effects upon the returns from renewable energy projects, the financing of these projects and the value of tax credits.

He's also promised to simplify the tax code for individuals and from a cursory glance at his new tax tables, it appears he wants to remove the marriage penalty too.

Not only would this be the most meaningful overhaul of our tax code in more than 30 years, but it would also put the U.S. in very good company.

An annuity exchange is also known as a 1035 exchange, which refers to a provision in the tax code.

There are also two potential tax code changes that could help increase corporate activity — a tax holiday to repatriate overseas cash and a significant reduction in corporate tax rates.

Companies looking to import from Brazil will also find difficulties, as, according to the Economist, the combination of a complex tax code, strict labour laws and economic protectionism, Brazil's manufacturing base is the fourth - least productive amongst OECD countries.

Republicans also repealed the 20 percent corporate alternative minimum tax, which was set up in the current tax code to ensure that corporations paid at least some taxes.

Also, a good tax code should encourage equity financing instead of debt pyramiding as is now the case, thanks to the banking lobby.

Municipal securities may also be subject to the alternative minimum tax and legislative and regulatory risk which is the risk that a change in the tax code could affect the value of taxable or tax - exempt interest income.

It also cuts taxes for parents and middle - class singles while moving the tax code in a more pro-growth direction.

Money that goes toward tuition, fees, books, and several other basics couldn't be taxed, per the tax code, which also refers to a scholarship given to a university employee — hypothetically, an athlete being paid a salary — as a «qualified tuition reduction» and says it can't be considered income.

«The ATT is also concerned that the proposal is wholly out of line with work that is being done elsewhere to address the problem of tax underpayments that are caused by incorrect coding.

Silver also called the legislative session of 2012 a productive one (naturally) and, like Cuomo, said the activity really was divided between the December tax - code overhaul and the first six months of this year.

It also makes a technical amendment to the sing non-dependent filer in the state's income tax code.

Toward the end of our chat, I asked Kennedy, who is also the ex-wife of Gov. Andrew Cuomo, for her reaction to the governor's about - face on taxing the rich and the Legislature's passage yesterday of the tax code reform deal.

Trump plans to unveil a tax cut blueprint today that would apply a vastly reduced, 15 percent business tax rate not only to corporations but also to companies that now pay taxes through the personal income tax code — from mom - and - pop businesses to his own real estate empire.

For a tax code restructuring, New York state is also assessing whether to create new opportunities for charitable contributions to support public programs.

Cuomo says he's also looking at changes to the state tax code in response to the federal overhaul.

But Lipton also said there is «more to do,» like restoring «progressivity» to the state's tax code, closing the carried interest tax loophole, and investing in a new «social contract» on public education that ensures full funding for schools — including universal pre-K (an early de Blasio priority)-- and restoration to the public university system to pre-recession levels.

Several Democrats also indicated that changes to the state tax code, designed as workarounds on new federal limits on the deductibility of state and local taxes, will be part of the spending plan in some form.

Previous ads run in the primary also highlighted Faso's fiscal record of cutting taxes and closing budget deficits and outline his key reform principles to help small businesses, notably simplifying the tax code, ending corporate welfare, investing in small businesses and ending Washington's regulatory madness.

He also wants to reduce the complexity of the corporate tax code and eliminate some deductions that would be offset by the reduced topline rate.

«While we are pleased that the Governor has followed the Senate's lead in decoupling the state and federal tax codes to save New Yorkers $ 1.5 billion, it is also critical that we balance this year's budget without the $ 1 billion in new taxes and fees proposed by the Governor.

That group put out a wide - ranging reform plan that would streamline the tax code, but it was also designed to keep tax revenues at about the same level.

Mujica also left open the door that changes to the state tax code might not be effective until the 2019 tax year.

The former governor also discussed the need to reform the tax code in the United States, saying tax loopholes for the wealthy need to be closed, suggesting that a Pataki presidential campaign certainly would have had some different ideas than the rest of the Republican field.

Obama urged Republican lawmakers to accept a deficit - reduction deal that includes reductions in so - called entitled programs, but also called for shifts in the tax code that would change rates for some higher - income brackets.

Backing the insurance exchange would also further upset the Republican base after the GOP leadership allowed votes on the same - sex marriage law and backed the tax code overhaul.

Republican Assemblymen Jim Tedisco and Tony Jordan also both voted «yes» on the tax code reform deal.

He also will propose a major retooling of the state tax code to deal with the federal tax changes and seek increased reserves in anticipation of further cuts from the feds.

The Governor is also establishing a commission to examine a comprehensive overhaul of the state's entire tax code that will make it simpler and fairer for all taxpayers and to create economic growth in the state.

It would also require the House Ways and Means Committee to report out legislation under the budget reconciliation process that would provide for a revenue - neutral, comprehensive overhaul of the U.S. tax code and would include instructions to 11 House committees to trigger the budget reconciliation process to cut mandatory spending.

He's also thumbing his nose at Washington by vowing to remake the state tax code to move away from income taxes and, possibly, allow for some payments to be treated as tax - exempt donations.