Sentences with phrase «under federal tax laws»

Our lawyers have extensive experience working with insurers to ensure product designs qualify for favorable tax treatment under Federal tax laws.

CONSULTATIONS Although this site may address certain tax issues, it is not a «reliance opinion» within the meaning of Treasury Circular 230 and, therefore, it is not intended to be used for, and can not be used for, the purpose of avoiding the imposition of penalties under Federal tax laws.

--- Creating a «family partnership» under federal tax laws, which allows you to divide business income among family members.

Under federal tax law, people filing their tax returns must check a box if they have assets in bank accounts located overseas.

Under federal tax law, married people filing jointly are taxed differently than single filers.

Under federal tax law, most owners of IRAs (except Roth IRAs) must withdraw part of their tax - deferred savings each year, starting at age 70 1/2 (or after inheriting an account).

Under federal tax law, section 501 (c)(3) organizations may take positions on public policy issues, including issues that divide candidates in an election for public office.

For example, under federal tax law, a married couple pays less in total taxes if one spouse works outside the house and the other spouse stays home.

A Cuomo administration budget official said the proposed payroll tax also could be used to raise more revenue by seizing some of the tax cuts promised to corporations and the wealthy under the federal tax law, as a way to shore up state finances.

Major goals for the Board of Directors include carrying out all requirements for becoming a 501c3 charitable organization under federal tax law, including establishing a permanent governance structure.

Under federal tax law, a marital deduction permits you to leave an unlimited amount of assets to your surviving spouse.

IRS Circular 230 Notice: Please note that any tax advice contained in this communication is not intended to be used, and can not be used, by anyone to avoid penalties that may be imposed under federal tax law.

A bond, issued at a dollar price less than par which qualifies for special treatment under federal tax law.

Under federal tax law, most owners of IRAs (except Roth IRAs) must withdraw part of their tax - deferred savings each year, starting at age 70 1/2 (or after inheriting an account).

Daugerdas continues to maintain that the tax advice that he provided was legal under federal tax law at the time.

Under federal tax law, there is a marital deduction permitting you to leave an unlimited amount of assets to your surviving spouse.

For example, under federal tax law, a married couple pays less in total taxes if one spouse works outside the house and the other spouse stays home.

Not exact matches

The lower tax rate in Q1 2018 was primarily due to the reduced federal rate under the new tax law enacted in Q4 2017 and additional discrete tax benefits from stock compensation in Q1 2018.

In his 2015 book «Rewriting the Rules of the American Economy,» Stiglitz said that the normalization of shareholder primacy was solidified under the Reagan administration through changes to federal income tax law and securities law, including relaxed antitrust laws.

The after - tax income of state residents would, the argument goes, be the same as under the old federal tax law.

Under previous tax law, most people could deduct the amount of taxes they'd paid on property, sales or income from the adjusted income they reported on their federal tax returns.

Less than three weeks after Trump signed Republican tax legislation into law, the IRS is developing new withholding tables to advise employers on how much federal tax to withhold from paychecks under the new regime.

Under existing law, payments of those taxes can be deducted, or subtracted from federal taxable income, lowering the amount of federal tax due.

Keeping benefits at their current levels required under law will mean less federal spending on education, infrastructure and defense unless Congress cuts benefits, raises taxes or both.

This discussion also does not consider any specific facts or circumstances that may be relevant to holders subject to special rules under the U.S. federal income tax laws, including, without limitation, certain former citizens or long - term residents of the United States, partnerships or other pass - through entities, real estate investment trusts, regulated investment companies, «controlled foreign corporations,» «passive foreign investment companies,» corporations that accumulate earnings to avoid U.S. federal income tax, banks, financial institutions, investment funds, insurance companies, brokers, dealers or traders in securities, commodities or currencies, tax - exempt organizations, tax - qualified retirement plans, persons subject to the alternative minimum tax, persons that own, or have owned, actually or constructively, more than 5 % of our common stock and persons holding our common stock as part of a hedging or conversion transaction or straddle, or a constructive sale, or other risk reduction strategy.

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.

Under the new law, taxpayers can only deduct $ 10,000 in combined property taxes and other state and local taxes (SALT) from their federal taxes.

A C corporation under Federal law pays corporate income taxes directly on its corporate income.

Any business must consider the federal, state, and local laws that govern how a business is formed and managed as well as being knowledge about how to deal with taxes, deductions, and disclosures - among the many things covered under the area of regulations.

«Currently, under federal banking laws, many legal, regulated legitimate marijuana businesses — operating legally according to state law — are prevented from maintaining bank accounts and accessing financial products like any other business, such as accepting credit cards, depositing revenues or writing checks to meet payroll or pay taxes,» Perlmutter said.

This discussion also does not address any tax consequences arising under the unearned Medicare contribution tax pursuant to the Health Care and Education Reconciliation Act of 2010, nor does it address any tax considerations under state, local or foreign laws or U.S. federal laws other than those pertaining to the U.S. federal income tax.

Under current federal law, long - term capital gains for individual investors in the fund are taxed at a maximum rate of 15 %.

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.

You will want to discuss all of your options with your attorney or tax advisor before taking action, especially if creditor protection is a concern for you, as the Supreme Court has ruled that Inherited IRAs are not protected under federal bankruptcy laws (although state law creditor protection of inherited IRAs still varies).

On 6 August 2013, Federal Judge Amos Mazzant of the Eastern District of Texas of the Fifth Circuit ruled that bitcoins are «a currency or a form of money» (specifically securities as defined by Federal Securities Laws), and as such were subject to the court's jurisdiction, [274][274] and Germany's Finance Ministry subsumed bitcoins under the term «unit of account» — a financial instrument — though not as e-money or a functional currency, a classification nonetheless having legal and tax implications.

This ability to «double - dip» and obtain both state / local and federal tax benefits from a single charitable contribution is, under current (i.e., pre-GOP tax bill) law, undercut by the deductibility of state and local taxes.

The spinoff will remain subject to certain other conditions, including the receipt of a legal opinion on the tax - free treatment of the deal under U.S. federal tax laws, Yahoo said in a regulatory filing.

The Marihuana Tax Act made it officially illegal under federal law in 1937, despite opposition from the American Medical Association.

Gov. Andrew Cuomo's proposal to change the state tax code to get around the loss of deductions under the new federal law is «the work of a mind severed from reason and reality,» GOP gubernatorial candidate John DeFrancisco, the deputy state Senate majority leader, said.

U.S. Sens. Charles Schumer and Kirsten Gillibrand should expect to get a federal income tax cut worth thousands of dollars next year under the new Republican tax law, which they both fought and voted against, based on their 2017 tax returns.

WASHINGTON — New York's two Democratic senators, Chuck Schumer and Kirsten Gillibrand, should each expect to get a federal income tax cut worth thousands of dollars next year under the new Republican tax law, which they both fought and voted against, according to projections based on their 2017 tax returns.

ALBANY — The Cuomo administration on Wednesday detailed several proposals that could allow some higher - income, middle - class New Yorkers to avoid paying more federal taxes under the new tax cut law passed in Washington last month.

The Internal Revenue Service has determined that the Empire Center is exempt from federal income tax under section 501c3 of the Internal Revenue Code, meaning contributions to the Empire Center are deductible to the full extent provided by law.

«Residents will get every possible deduction that is still available under the new federal tax law, including some that result in lower revenues for state and city government,» Wylde said.

And the state will also create an optional payroll tax — still fully deductible under federal law — for businesses to pay for their employees.

Up to $ 10,000 of property taxes can still be deducted, under the new federal law passed by Congress and signed by President Trump in December.

Silver, a Manhattan Democrat who has served as speaker of the state assembly since 1994, has been under federal investigation over payments he received from a small law firm, Goldberg & Iryami, that specializes in New York City real estate taxes.

Cuomo's idea to shift some state and local tax payments owed by individuals to a payroll tax paid by employers so many New Yorkers don't lose thousands of dollars under a new federal tax law is supported in concept by many tax policy experts.

The governor says the new taxes, which would raise most of the money from the healthcare industry, are necessary to deal with an expected drop in federal aid and the loss of revenue under the new federal tax law.

Under the IDA's new policy, companies receiving tax breaks beginning in September must certify that they are complying with all federal and state equal pay laws and that they have not been found to have violated those laws within the past five years.