Sentences with phrase «when state tax revenue»

Not exact matches

By paying workers as independent contractors when they should be paid as employees, federal, state and local governments potentially miss out on tax revenue they would otherwise collect; this tax gap was the focus of a special report to Congress in 2011 and continues to be an area of focus today.

«When Wall Street does well, the city and state benefit from higher tax revenues,» Thomas DiNapoli, the state comptroller, said in a statement.

Last month, Governor Jack Dalrymple called for a decrease in the state budget, since tax revenues are down and the budget outlook for the state is different from two years ago, when the price of oil was topping $ 100 per barrel.

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

States usually impose income rather than payroll taxes when raising general revenue, and levy them on the individual side.

Last year was — yet again - a lackluster one when it came to state tax revenues, according to a Rockefeller Institute report.

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.

Now is not the time for massive tax breaks for the wealthy when our state is starved for revenue and communities are hurting.

The state is expecting to receive only $ 1 million in revenue from the medical marijuana excise tax this year, far less than what the Cuomo administration believed would come in when it proposed its budget one year ago.

The advocates — whose job is to always say it's not enough — don't recognize the state must to be mindful of spending in a year when federal tax policy and federal healthcare cuts, among other things must be accounted for because revenue is tight.

When it comes to receipts from the personal income tax, known as the PIT in state government parlance, revenue was almost 20 percent lower in April than a year ago.

At a time when state taxes from traditional gambling like lotteries and casinos are flat or declining, a majority of states are now seeking to regulate — and possibly raise revenue from — daily fantasy sports sites.

Yes, when the State estimated revenue for the 2011 - 12 budget they included PIT revenue because the tax is in effect all this calendar year.

«In addition, the fact that New Yorkers are spending billions of dollars at out of state casinos, when that money could be staying here to generate much needed tax revenue was also a big reason that this resolution came forward.»

That's when they hope to have the revenue figures from the state's latest quarterly income tax receipts and some of the holiday sales tax receipts.

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.

But because the proposed tax reductions would take effect in stages over the course of the next five years, they are projected to reduce state revenues by $ 5 billion when fully implemented in 2011 - 12.

His Governor and his Democrat - led State Legislature raised taxes on the most productive New Yorkers when it comes to job creation — a tragic blunder that drives capital and revenue from the State every single day.

Even when unemployment — 8.2 percent in New York State in December, compared with 7.8 percent nationally — falls, property tax revenue won't come back.

«When Wall Street does well, the city and state benefit from higher tax revenues,» DiNapoli said in a statement.

He suggested that the city would have until June, when the sales - tax agreements must go to state officials, to hammer out a new revenue - sharing scheme.

Moreover, states often specify spending amounts for capital and transportation projects that can't be cut when tax revenues fall.

Because states must maintain balanced budgets, state appropriations for higher education tend to fall when the economy (and therefore tax revenues) are weak.

When a donor receives a tax credit, that reduces the amount of revenue the state collects.

Unlike state - subsidized voucher programs, which are funded by collected tax revenues, this program bypasses state coffers by giving corporations a dollar - for - dollar tax break when they contribute to a scholarship funding organization.

When Hollywood director Rob Reiner proposed a ballot initiative (Proposition 82 in 2006) calling for an income tax increase to make preschool universal and free for all of the state's four - year - olds, the governor sided with opponents, who noted that the measure would use precious potential tax revenue to pay for a service that a majority of the state's youngsters already received.

When local property - tax revenue in a district is low, the state pays more...

That sounds like a tall order when considering that the state is currently running a $ 190 million revenue shortfall, thanks to a tax cut plan lawmakers put into effect in 2013.

With your help, Arizona can create more degree holders, cut the costly achievement gaps, create additional tax revenue, and put the state back on even ground with its neighbors when it comes to college success and the benefits that accompany a better educated state.

Now that I know how Amazon treats people when the going gets rough, I prefer to shop at B&N for books and generate a little sales tax revenue for my starving state.

When a taxpayer has claimed a federal itemized deduction for state or local income tax payments and subsequently receives a refund related to those payments, the Internal Revenue Code requires the taxpayer to report the refund as income on Form 1040 for the year in which the refund was received.

When combined with the $ 911 million in additional tax revenue the state will likely receive, the Barnett Shale is estimated to generate $ 1.6 billion in tax revenue for the state of Texas in 2011.

Suburban REALTORS Alliance Position The Alliance is opposed to increases in the current transfer tax for the following reasons: 1) As the transfer tax is levied only on buyers and sellers of property, the burden per taxpayer is greater than the burden from a more broad - based tax designed to generate the same amount of revenue; 2) Since public transportation is a benefit that is open to all members of society, the charge should not be placed solely on buyers and sellers of property; 3) The transfer tax adds additional burdens on first - time home buyers saving for a down - payment and covering the closing costs and runs contrary to existing federal, state, and local programs including the mortgage interest deduction, low interest property maintenance loans, and grants to first time homebuyers; 4) A real estate transfer tax is a state and local tax assessed on real property when ownership of the property is exchanged between parties.

An Internal Revenue Code (IRC) Section 1031 tax deferred exchange allows the taxpayer to defer the federal, state capital gain and recaptured depreciation taxes triggered when selling property held primarily in a business or for investment when replaced with property of equal or greater value held in a business or for investment.

What happens when local, state, and federal governments and their agencies are no longer able to bring in enormous tax revenue via settlement cost, appraisals, rehabs, construction permits.