Wyomingites have long supported the oil and gas industry; it provides jobs and critical revenue streams for our state, counties and local communities. But now, industry executives and lobbyist groups are using the pandemic as an excuse to dodge their financial obligations to the state.
During the recent legislative session, Wyoming approved a 2 percent severance tax break for new oil and gas wells when the price is below $50/barrel for oil and $2.95/1,000 cubic feet for gas. Study after study has shown that tax rates do not determine whether a well gets drilled. The most important factors are geology and market forces.
In case you are keeping track:
Tax Compliance Costs Generally Higher for Small Businesses - Small Business Trends
Small businesses pay higher costs when it comes to regulations and compliances compared to their larger counterparts. How much more do they pay? When it comes to taxes, a new infographic from SCORE says tax compliance costs are 67% higher for small businesses than for big businesses. -->
Titled, "Tax Reform's Impact on Small Businesses" the infographic highlights the challenges of preparing taxes. But it also looks at the impact of the recent tax reform on small businesses.
Millions of taxpaying immigrants won't get stimulus checks | KEYE
Maryland and New York Digital Advertising Tax Legislation
With gatherings larger than 50 people banned and the State House cleared of visitors, on March 18, 2020, Maryland's legislature approved HB 732, which contains a massive new punitive tax on digital advertising services, and sent it to Governor Larry Hogan (R) for his consideration.
Contradicting the clear legislative trend in the advertising space to exempt the facilitation of advertising services (but tax the consumer transactions that may result therefrom), HB 732 would impose a new, one-of-a-kind tax on the annual gross revenue of digital advertising services that are deemed to be provided in the State.
And here's another article:
Final regulations address covered assets acquisition rules - Journal of Accountancy
Sec. 901(m)(1) provides that, in the case of a covered asset acquisition (CAA), the disqualified portion of any foreign income tax determined with respect to the income or gain attributable to RFAs is not taken into account in determining the Sec. 901(a) foreign tax credit, and in the case of foreign income tax paid by a Sec. 902 corporation, is not taken into account for purposes of Sec. 902 or 960. Instead, the disqualified portion of any foreign income tax is allowed as a deduction.
Rome law firm named as a defendant in conservation easement lawsuit | Local News |
Governor Cuomo Signs FY 2021 Budget | Governor Andrew M. Cuomo
Governor Cuomo: "I understand we're all consumed with the coronavirus situation but we have to be able to walk and chew gum. We have to move forward at the same time and that's why passing the budget and these pieces of legislation were important. These issues are still important and child vaping, et cetera, surrogacy, these are major issues for people. And they passed last night and congratulations."
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VIDEO of the Governor's remarks on the Enacted Budget is available on YouTube here and in TV quality (h.264, mp4) format here .
STERIS Announces Decontamination Solution for Respiratory Masks
The EUA allows STERIS to temporarily provide a solution for decontaminating compatible N95 or N95-equivalent respirators using the 28-minute Non-Lumen Cycle available on most V-PRO models. STERIS recommends decontaminating masks after each use, up to a maximum of ten times. Ten masks can be decontaminated per cycle. For more information, please visit steris.com/covid-19 .
"Healthcare providers are on the front lines of this pandemic and are in desperate need of personal protective equipment," said Walt Rosebrough, President and Chief Executive Officer of STERIS. "We are pleased to be able to offer a partial solution for healthcare providers during this crisis, and hope that this temporary authorization will provide some relief to them.
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