Sentences with phrase «under the state tax»

Similar rules may apply under state tax laws.

He touted a number of accomplishments through the years, from keeping town and school budgets under the state tax cap to successfully obtaining grants to fund infrastructure upgrades.

I intend to continue making improvements and pursuing initiatives that prove fruitful for our residents and boost their quality of life while continuing the keep the town budget under the state tax cap.

The Erie County tax rate has either stayed the same or fallen in each of the past 10 years and consistently been under the state tax cap.

PLATTSBURGH The Town of Plattsburgh's the tentative 2018 spending plan shows that the town is firmly under the state tax cap.

The Town Board in DeRuyter may find it difficult to stay under the state tax cap in its next budget.

The tentative spending plan, released late last month, shows that the county is poised to remain under the state tax cap for the seventh consecutive year.

Which of the following statements is true: The Erie County tax rate has either stayed the same or fallen in each of the past 10 years and consistently been under the state tax cap.

Not exact matches

The World Bank estimates that this sub-heading generated only $ 4.2 million in (estimated) tax revenue for the Canadian government, as 91 % of Canada's imports of these items were manufactured in the United States and are eligible for tariff free status under NAFTA, though this requires companies obtain certificates of origin and wade through NAFTA rules - of - origin regulations that are over 500 pages long.

Finally, many states provide an earned income tax credit (EITC) that is extremely important in fighting poverty, and this too would be more difficult to implement under a payroll tax system.

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

Under the plan, companies would register to collect and pay sales tax in participating states in which they make sales without concerns over prior taxes owed.

«When tax payers sign their tax returns, they are stating that, under penalties of perjury, to the best of their knowledge their tax return is accurate and complete.

Once you have registered in an amnesty program, all sales tax issues your company faces in the future will be under state scrutiny, says Paul N. Gada, senior small - business tax analyst with CCH Business Owner's Toolkit, a division of CCH Tax and Accounting in Riverwoods, Illinotax issues your company faces in the future will be under state scrutiny, says Paul N. Gada, senior small - business tax analyst with CCH Business Owner's Toolkit, a division of CCH Tax and Accounting in Riverwoods, Illinotax analyst with CCH Business Owner's Toolkit, a division of CCH Tax and Accounting in Riverwoods, IllinoTax and Accounting in Riverwoods, Illinois.

State and local sales and income taxes could not be prepaid under the new law.

Fourteen states have legal marijuana on the ballot in 2016, and a recent report showed that, under certain circumstances, legalization could generate $ 28 billion in tax revenue at the federal, state, and local levels.

If it is, there are two perfectly legal reasons why they may be requesting a tax ID number: (1) They want to confirm that your shipment is exempt from state sales and use taxes, or (2) they want to confirm that you're not engaged in terrorist activities under the U.S. Patriot Act.

Even if your wealth falls under the federal estate tax threshold — in 2016, up to $ 5.45 million per person is exempt — it may be subject to state estate taxes, which often have lower caps.

House Ways & Means Chairman Rep. Kevin Brady (R - Texas) pushes back on the idea that blue states will suffer more under the proposed tax plan, and weighs in on the role Democrats will play in shaping tax legislation.

First off, I get it: Anyone dealing with sticker shock in light of the potential local, state and property taxes they face under the new laws could be tempted to jump ship and make tracks for so - called «tax - free» states.

Between 2010 and 2012, taxpayers in the Peach State claimed about 36 % of all federal tax deductions for easements — despite having only 2.5 % of the nation's land under easement, according to a May 2017 report that Looney, the former Treasury official, published for the Brookings Institution, where he's now a senior fellow in economic studies.

Mike Moffatt said: «According to the Department of Finance, the benefits from a cut in corporate income taxes may be under stated as their analysis does not capture the effects of multinational firms rearranging their tax reporting so that more profits would be «booked» in Canada.

According to the Department of Finance, the benefits from a cut in corporate income taxes may be under stated as their analysis does not capture the effects of multinational firms rearranging their tax reporting so that more profits would be «booked» in Canada.

Consequently, the impact on lost tax revenue may be over stated — and the benefit therefore under stated.»

Companies that create at least 10 jobs would get favorable treatment under the state's tax credit program, qualifying for up to $ 5,000 for each new job they create in addition to the base tax credit they qualify for.

No taxing authority is asserting or threatening to assert a claim against the Company under or as a result of Section 482 of the Code or any similar provision of any foreign, state or local Tax law.

New York charges sales tax on precious metal bullion purchases under $ 1,000 when delivered or stored within the state.

In connection with awards under the LTICP, the Company may withhold from any cash otherwise payable to a participant or require a participant to remit to the Company an amount sufficient to satisfy federal, state, local and foreign withholding taxes.

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.

Under the Trump regime, these counties in the most expensive parts of the country are net losers, especially after reducing mortgage interest deduction and state income tax deduction

Under the first of those agreements, we generally will be required to pay to our existing owners that will continue to hold LLC Units following the reorganization transactions approximately 85 % of the applicable savings, if any, in income tax that we are deemed to realize (using the actual applicable U.S. federal income tax rate and an assumed combined state and local income tax rate) as a result of:

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.

Since 2007, around 80,000 California taxpayers each year have paid state income taxes this way under a program called ReadyReturn.

The Tesla and Faraday Future Tax incentive packages offered by the State of Nevada Governor's Office of Economic Development (GOED) are being put under the microscope as State Treasurer Dan Schwartz initiated a probe into the matter today.

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.

It's not yet clear how those projections would change under the compromise plan, which reportedly loosens the state and local tax deduction to include income tax but still caps the total SALT deduction at $ 10,000.

Charitable donations are still deductible under the GOP, so reclassifying state taxes as charity would enable residents to still deduct them at the federal level.

Under current law, taxpayers not claiming the standard deduction can deduct both their state and local property taxes, and either their state and local income taxes or their state and local sales taxes, whichever is higher.

Under U.S. law corporations don't pay income tax on overseas profits until the profits are brought into the United States.

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.

Under the first of those agreements, we generally will be required to pay to the Continuing LLC Owners approximately 85 % of the applicable savings, if any, in income tax that we are deemed to realize (using the actual applicable U.S. federal income tax rate and an assumed combined state and local income tax rate) as a result of (1) certain tax attributes that are created as a result of the exchanges of their LLC Units for shares of our Class A common stock, (2) any existing tax attributes associated with their LLC Units the benefit of which is allocable to us as a result of the exchanges of their LLC Units for shares of our Class A common stock (including the portion of Desert Newco's existing tax basis in its assets that is allocable to the LLC Units that are exchanged), (3) tax benefits related to imputed interest and (4) payments under suchUnder the first of those agreements, we generally will be required to pay to the Continuing LLC Owners approximately 85 % of the applicable savings, if any, in income tax that we are deemed to realize (using the actual applicable U.S. federal income tax rate and an assumed combined state and local income tax rate) as a result of (1) certain tax attributes that are created as a result of the exchanges of their LLC Units for shares of our Class A common stock, (2) any existing tax attributes associated with their LLC Units the benefit of which is allocable to us as a result of the exchanges of their LLC Units for shares of our Class A common stock (including the portion of Desert Newco's existing tax basis in its assets that is allocable to the LLC Units that are exchanged), (3) tax benefits related to imputed interest and (4) payments under suchunder such TRA.

Under the other TRAs, we generally will be required to pay to each Reorganization Party described under «Organizational Structure» approximately 85 % of the amount of savings, if any, in U.S. federal, state and local income tax that we are deemed to realize (using the actual U.S. federal income tax rate and an assumed combined state and local income tax rate) as a resulUnder the other TRAs, we generally will be required to pay to each Reorganization Party described under «Organizational Structure» approximately 85 % of the amount of savings, if any, in U.S. federal, state and local income tax that we are deemed to realize (using the actual U.S. federal income tax rate and an assumed combined state and local income tax rate) as a resulunder «Organizational Structure» approximately 85 % of the amount of savings, if any, in U.S. federal, state and local income tax that we are deemed to realize (using the actual U.S. federal income tax rate and an assumed combined state and local income tax rate) as a result of:

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.

These states would need to think hard about how to implement the change in a way that ensures those families still get the benefits they receive under the current income tax regime.

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.

House Majority Whip Steve Scalise's team has been pulling district - by - district data to prove to skeptical lawmakers from high - tax states that their constituents will see a tax cut under the plan.

Under that reasoning the IRS could request bank records for every United States customer from every bank branch in the United States because it is well known that tax liabilities in general are under reported and such records might turn up tax liabilities.&rUnder that reasoning the IRS could request bank records for every United States customer from every bank branch in the United States because it is well known that tax liabilities in general are under reported and such records might turn up tax liabilities.&runder reported and such records might turn up tax liabilities.»

Under the compromise, people will still be able to deduct up to $ 10,000 on the property taxes they pay locally, but they will no longer be able to deduct the other taxes they pay to state or local governments from their federal tax payments.

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.