Sentences with phrase «year tax exemption»

The company said it needs the 20 - year tax exemption to make the project economically feasible.

She noted that the company's tax deal on the mall included a 30 - year tax exemption on not just an expansion of the mall but also on a proposed 1,342 - room, 39 - story hotel that Destiny developer Robert Congel pledged to build.

Congel's action in 2012 allowed him to keep the 30 - year tax exemption on his mall, the sixth - largest shopping center in the country, without fulfilling his promise to build a 1,342 - room hotel or the additional 350,000 square feet of retail space he also promised.

Miner said the mall has already received an «unprecedented» 30 - year tax exemption, worth hundreds of millions of dollars, from the city and does not deserve another deal.

Not exact matches

Keep in mind that this exemption is based off the depreciation of your building over the past 39 years, and that you must also multiply by your tax rate.

The Republican tax plan seeks to immediately double the estate tax exemption and repeal the tax in six years.

Altech said it had also applied for the project to be given «pioneer status - high technology», a Malaysian investment incentive classification which delivers tax exemption on statutory income for the first five years following the start of commercial production from the plant.

The tax exemption limit should be auto - set to match inflationary trends in a financial year.

The bill, assuming it passes today and is reconciled with a House version, would give companies that hire unemployed people an exemption from payroll taxes this year.

Besides providing such familiar tax incentives as a five - year income - tax exemption for coveted corporations, the government often shares the cost of training workers and even puts up part of the capital for plants and equipment.

Unfortunately, over the years, more and more middle income taxpayers have been subject to the AMT and have consequently owed additional taxes, because the AMT exemption — the amount of income which isn't subject to additional taxes — isn't indexed to inflation.

Nevertheless, rates remain lower than they were before the 2012 cuts, and this year's elimination of an exemption for pass - through income improves the neutrality of the state's income tax code.

Some revenue raisers on the individual side, like abolition of deductions for state and local taxes and the elimination of personal exemptions, would expire at the end of that year too.

For the 2017 tax year, the exemption is equal to $ 4,050.

Several changes Congress mandated for the 2008 tax year will change the way many taxpayers fill out Internal Revenue Service exemption forms 6251, 8917, 8859 and 5695 as well as how they use the exemptions available on the standard tax return From 1040a.

For tax year 2015, the standard personal exemption amount is $ 4,000 per person.

For the tax - year 2008, Congress raised the alternative minimum tax exemption to the following levels: $ 69,950 for a married couple filing a joint return and qualifying widows and widowers, $ 34,975 for a married person filing separately, and $ 46,200 for singles and heads of household.

The AMT exemption amount for tax year 2018 is ~ $ 54,300 for individuals and ~ $ 84,500 for married couples filing jointly.

In contrast, the new House plan would phase out the estate tax over six years, starting with a doubling of the generous $ 5 million exemption (indexed to $ 5.49 million in 2017).

Muni bonds» favorable tax exemption was created a little over 100 years ago to attract investors of all stripes, not just those at the very top of the socioeconomic ladder, to help boost infrastructure spending.

A one - year extension of the alternative minimum tax (AMT) «patch» temporarily raised the AMT exemption.

The AMT exemption and tax bracket thresholds are indexed for inflation, protecting many taxpayers from the tax, but rising real incomes make more taxpayers subject to the AMT every year.

AMT patch: For many years following enactment of the 2001 tax cuts, lawmakers repeatedly — but only temporarily — raised the AMT's rate bracket thresholds and exemption to offset the effects of inflation.

Other major tax expenditures include lower rates on income from capital gains, exemptions for retirement contributions, and the beloved mortgage interest deduction, which costs the government nearly $ 64 billion a year.

The House bill would immediately double the exemption on the estate tax, a levy of up to 40 percent for very large estates when their holder dies, and after six years repeal it entirely.

Finally, the legislation would repeal the personal exemption in favor of a larger standard deduction, a larger child tax credit, and a new $ 300 per person tax credit; these provisions would be roughly neutral when taken together, though the $ 300 per person credit would expire after 5 years and continuing it would increase costs.

«On your tax return you're either going to report you had coverage all year, you qualify for an exemption or that you're liable for the individual shared responsibility payment and the amount that you will pay.»

That's because the Tax Cuts and Jobs Act went into effect at the beginning of this year and overhauled the tax code, doubling the standard deduction and doing away with personal exemptioTax Cuts and Jobs Act went into effect at the beginning of this year and overhauled the tax code, doubling the standard deduction and doing away with personal exemptiotax code, doubling the standard deduction and doing away with personal exemptions.

In France, for example, President Hollande has reduced the time limit for full exemption from capital gains tax for owners of second homes from 30 to 22 years from 2014 and his previously introduced taper rates will now be set at a more favourable flat rate of 6 % per annum.

For the 2014 tax year, the exemption stands at $ 5.34 million with a tax rate of 40 percent.

Say you earn $ 40,000 a year, you're eligible for $ 4,000 in tax exemptions, and your effective tax rate is 25 %.

Japan's Cabinet has approved proposals for the 2017 fiscal year tax reform which include an exemption from consumption tax (the Japanese value added tax) for the transfer of virtual currency (VC - cash exchange).

But when you make a wild claim that «they are receiving $ 135K a year in tax deductions» that are «above and beyond any standard deduction or exemptions», it certainly appears to be ignorant of factors like income - based phaseouts that kill the very exemptions you were complaining about.

Your income tax rate is set by your total income for the year minus deductions and exemptions.

«All Returns: Adjusted Gross Income, Exemptions, Deductions, and Tax Items, by Size of Adjusted Gross Income and by Marital Status, Tax Year 2014»; Table 1.3.

Turns out, the best time of year to rake in those fat checks is at the very end, when most people do holiday gift - giving and also take advantage of the charitable donations tax exemption.

The property had a STAR tax exemption for two years, a break given only to a primary residence.

Combined loss of personal exemption and SALT limitation will make many NY State families pay higher taxes this year.

Others include: • Exemption from tax, gains from realization of securities listed on the Ghana Stock Exchange for a period of 5 years; • Replacement of 17.5 percent standard rate with a 3 percent flat VAT / NHIL rate for supplies by retailers and wholesalers.

The cut will increase the tax exemption amount for private pensions, effectively saving seniors $ 275 million per year.

She pointed out that the Syracuse IDA made no such demand last year when it approved exemptions from sales and mortgage recording taxes for COR's construction of an Aloft hotel, the first building in the Inner Harbor project.

Veterans have paid their school taxes for years, and when the exemption was made possible, members of veterans groups started going to school board meetings.

Though most of the exemptions in the budget sweep were required by law, one of only a handful of discretionary exemptions was the payroll mobility tax, which raises over $ 1 billion a year for the MTA.

As for the illegal house convertors in Ramapo, they've already been rewarded for cheating with full tax exemption for the year 2012 and onward.

When he moved in years ago, Silver's home was a «limited dividend co-op» — a kind of affordable housing that got fat tax exemptions in exchange for strict regulations on sales prices.

With the tax break coming up for its four - year renewal in Albany, the administration has rolled out a proposal that would end the GEA and require affordable housing in rental buildings in the program citywide, while eliminating the exemption for condominiums.

Currently, SCHE and DHE provide a property tax exemption of 50 percent of the assessed property value for senior and disabled homeowners making up to $ 29,000 per year, with homeowners making up to $ 37,400 receiving a smaller exemption on a sliding scale.

A bill to repeal the vacancy allowance has languished in the State Assembly for years, but some see an opening to inject the issue into negotiations over the renewal of a tax exemption for developers who build affordable housing.

«Let's remember on their own last year the Senate passed a property tax cap that was four percent with a whole bunch of exemptions,» Silver said, referring to the then - Democratic chamber.

Under the proposed agreement, Cornerstone would pay $ 25,000 for the city - owned lot and could get a full tax abatement for eight years, in addition to sales and mortgage recording tax exemptions.