Senate Republicans today announced a taxpayer focused plan to return Minnesota's budget surplus back to the taxpayers. The Senate plan emphasizes returning your money back in your pockets, particularly middle-income and low-income earners, so you have more security, freedom, and flexibility to chase your dreams. This is the marquee piece of Senate Republicans’ Vision 2020 Agenda , which was unveiled in January.
The Get Your Billion Back tax plan is a series of tax cuts worth more than $1 billion, which will ease the tax burden for every single Minnesota taxpayer. They are fighting to reduce the bottom income tax rate, completely eliminating taxes on Social Security income, expanding the K-12 income tax credit, fully conform with 179 federal regulations and more.
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Election 2020: Tax, Census, & Mission are Primary Issues Facing Nonprofits - The NonProfit
This year's top political concern is modifying the 2017 Tax Cuts and Job Act, which dealt nonprofits a major blow by increasing the standard, non-itemized charitable deduction and doubling the estate tax exemption.
Three bills in the U.S. House of Representatives – H.R. 651, H.R. 1260, and H.R. 5293 – call for the change. The bills have a mixed slate of backers – one primarily Democratic, one Republican, and one bipartisan.
"We think the three of them are generally getting to the same thing, to the creation of the universal charitable deduction," said Denton, adding that the priority is getting representatives to sign on with at least one of them.
Illinois Nets Over $10M In Cannabis Tax In First Month Of Retail Sales
A food truck sits outside the Sunnyside Cannabis Dispensary as customers wait in line to buy ... [+] marijuana, on January 1, 2020 in Chicago, Illinois. (Photo by KAMIL KRZACZYNSKI / AFP) (Photo by KAMIL KRZACZYNSKI/AFP via Getty Images)
Less than three months into Illinois' new legal adult use cannabis market, the state says its tax revenue is already exceeding expectations.
Data released by the Illinois Department of Revenue reveals that Illinois cannabis sales generated more than $10 million in taxes in January 2020, the month when cannabis retailers opened their doors in the state (often leading to very long lines).
How to list home on Airbnb in Atlanta for March Madness
March Madness will make its final stop in Atlanta in April, but ahead of that time those in the city may be curious about the rules regarding posting their homes on Airbnb or VRBO.
Airbnb has provided a guide to regulations in Atlanta online. VRBO does not outline Atlanta’s regulations on its website, but encourages users to review state and local laws surrounding short-term rentals.
» RELATED: March Madness: Free, cheap things to do in Atlanta the week of the playoffs
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INSIGHT: New Value-Added Tax on Online Services in Nigeria
The Nigerian tax authority has signified its intention to impose VAT on online transactions this year. Hilary Iloka and Aimée Dushime of KPMG discuss the proposed structure of the tax and compare it with the VAT treatment in other African countries.
According to the Organization for Economic Corporation Development (OECD), the digital economy is increasingly becoming "the economy" by itself. The digital economy has therefore recently become an area of focus for revenue authorities: perhaps the fundamental question to be asked then is whether local tax laws reflect the current dynamics in the digital economy.
New Zealand Proposes to Free Crypto From Some Taxes to Promote Growth
The document admits that New Zealand has a fast-growing crypto assets market and expects that most stakeholders will welcome the proposed regulations, or suggest wider tax and regulatory reforms. The country’s tax system ostensibly intends to ensure that the tax rules do not create barriers for crypto-related developments. The paper reads:
“The definitions used for money or financial services as “exempt supplies” (meaning they are not subject to GST) did not contemplate crypto-assets, meaning GST may be imposed on certain types of crypto-assets, but not others – depending on their particular purpose and design. This inequitable GST treatment is unintentionally favouring certain types of crypto-assets over others and likely resulting in a distortion in the crypto-asset marketplace.”
Murphy to undergo surgery to remove kidney tumor - POLITICO
News of Murphy's tumor landed just three days before he's scheduled to deliver his annual budget address, where he's expected to once again call for raising taxes on New Jersey's millionaires. While Murphy entered office with the expectation of passing millionaires tax legislation that Democrats sent to former Gov.
Sweeney unexpectedly opened the door to a millionaire's tax bill on Sunday, but it comes with a hefty pricetag: Murphy will have to add $1 billion in his budget to pay for New Jersey's chronically underfunded public pension system. "I've absolutely said 'no' for the last two years," Sweeney told NJ Advance Media.
New Opportunity Zone Talking Points | New York Law Journal
Scott Mollen, a partner at Herrick, Feinstein, discusses three landlord-tennant cases: '191 Realty Assocs. v. Tejeda,' 'Oceanview Manor Home for Adults v. Vargas,' and 'N.Y.C. Hous. Auth. v. Scott,' and a brokerage case: 'Bay Sun Realty v. Li.'
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Relying on assumptions about how things are usually done, or how the arbitrator(s) will eventually decide they ought to be done, can result in very unpleasant surprises.
In his Condemnation and Tax Certiorari column, Michael Rikon discusses three cases decided by the Supreme Court in 2019 regarding property takings: 'Knick v. Township of Scott, 'Timbs v. Indiana,' and 'Ceder Point Nursery v. Shirema'.
Happening on Twitter
2. He's a Class A hypocrite and fraud who has no authority as a single member of Congress to conduct his own foreig… https://t.co/oUVb0KHhNo marklevinshow (from Underground Bunker) Tue Feb 18 21:31:07 +0000 2020
Meet the next Senator from Arizona — Democrat @CaptMarkKelly! Please follow Mark and donate to his campaign today!… https://t.co/YMBKL8MPd2 joncoopertweets (from New York) Thu Feb 20 16:52:26 +0000 2020
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