If you sell a stock for a profit, your profit is subject to capital gains tax. Your tax rate can be as high as 20% for long-term capital gains (held more than one year) and may vary based on your income. This type of tax cut could help individual investors who buy and sell stocks as well as institutional investors such as mutual fund, hedge fund and private equity investors.
Who Benefits: Individual and institutional investors can keep more profit if capital gains rates are cut.
Were you following this:
First-half property taxes due May 15 | Echo Press
In brief: Apply for Albany tax exemptions, renter rebates
In recognition of potential hardship some taxes could have on very low-income families, there are parcel tax exemptions and renter rebates for five city of Albany parcel taxes:
Very low-income homeowners qualify for exemptions on all five taxes, and very low-income renters qualify for exemptions on the Library Services, Supplemental Library Services, Sidewalk and Parks and Open Space Facilities taxes. Visit the city of Albany’s webpage about it at bayareane.ws/3dm2a7k for eligibility requirements and to apply. Applications must be postmarked by June 1.
Digital tax: Trump could unite EU around the policy, lawmaker says
France, Austria and Italy are among the European countries that have implemented taxes on the tech companies at a national level, but there's been a failure at the European Union level to agree on a joint levy.
The political and economic union of 27 countries failed to reach a consensus in March 2019, when four member states vetoed a common tax. At the time, Ireland, Sweden, Denmark and Finland said there should be a broader debate outside of Europe over a digital tax, before the EU implemented its own.
While you're here, how about this:
China Grove's proposed 2020-21 budget won't increase property taxes - Salisbury Post |
CHINA GROVE — In June, China Grove Town Council members are scheduled to vote on the proposed 2020-21 fiscal year budget, which town manager Ken Deal said is similar to the current year’s spending document and won’t include an increase in the property tax rate.
Council members scheduled a public hearing and vote on the proposed budget for June 2 during a virtual meeting at 6 p.m. The recommended 2020-21 budget reflects a revenue total of $3.86 million. The property tax rate is at 54 cents per $100 in valuation, with an estimated tax base of $350 million and a 97.75% collection rate. The 2020-21 budget estimates a total of $1.72 million to come from property tax collections.
John LaBarge: Does Vermont have a taxing capacity? - VTDigger
Editor’s note: This commentary is by John LaBarge, a Republican who represented Grand Isle in the Vermont House from 1992-2002.
The federal government is helping to cover losses by providing Vermont with $1.25 billion but it contains stipulations as to what the money can be used for. Vermont’s 2020 state budget was $6 billion. So, if we are determined to keep the same level of services and programs in 2021, how can we do it given the projected loss of $596 million in revenues?
COVID-19’s impact on your TSP and taxes | Federal News Network
Millions of people who, just a couple of months ago, had good paying jobs, health insurance and vacation plans are now having to make choices between food and rent. Others are still waiting for special checks from the government. A lot of people are trying to figure out what Congress and the White House have done to ease their pain. And what's next?
Tax deadlines were changed so you can delay filing until mid-July. Rules governing things like Required Minimum Distributions for older investors have been waived. Law offices are suddenly swamped with questions and requests from people wondering what they should be doing to make sure, in a worst case scenario, their designated loved ones get what's due them. A will, witnessed by your buddies on the softball team that you pulled off the internet suddenly doesn't seem sufficient.
Florida sales tax collections fall dramatically, preliminary report shows
Florida's sales tax collections for March are lagging well behind what state officials expected to see before the pandemic, according to a preliminary report from the Florida Department of Revenue.
A May 1 daily revenue report, first disclosed by the Orlando Sentinel , showed that sales and use taxes, plus a few other unrelated revenues, collected during April were about $773 million below the state's $3.1 billion sales tax estimate.
Happening on Twitter
Mitch McConnell already votes with Donald Trump 95% of the time. Does @AmyMcGrathKY really want more? #MikeForKY MikeForKY (from Lincoln County, KY) Tue May 05 17:15:18 +0000 2020
Donald Trump does not want to be in charge of any of this. He wants to play president on TV. He doesn't want respon… https://t.co/5KaLaj12Pe ezraklein (from DC) Wed Apr 29 21:37:06 +0000 2020
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