Hundreds of our fellow citizens stepped up to run for elected office during the recent candidate filing week. From local to federal positions, this is an example of our representative democracy at its finest. It's also a reminder that there are real problems facing us right now, and many of the people solving them will be relatively new to elected office.
The state Legislature already has a lot of new faces, and this November's election will bring even more newcomers to Olympia.
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Tax Day is coming soon. What you need for July 15
It may be hard to believe, but taxpayers have approximately six weeks to file their 2019 income tax returns and pay taxes owed to the IRS.
July 15 is the new Tax Day, as the Treasury Department moved the deadline to help taxpayers contend with disruption related to the coronavirus pandemic.
"What we'd normally be doing in March and April is what we're getting into now," said Brian Streig, CPA and tax director at Calhoun Thomson and Matza in Austin.
Oakland council members want to change business taxes
OAKLAND — In an effort to help the city’s merchants and restaurants reeling from losses after almost three months of being shut down, some council members are proposing revamping the way small businesses are taxed.
Some of the tax burden would shift from small businesses to larger ones under the proposal announced Thursday at a news conference. It would lower taxes for small businesses such as local restaurants, retail and wholesale ones that generate $250,000 or less in revenue per year. In turn, those that make more revenue would be taxed at higher rates.
May Revenue Report Shows Mass. $2.25B Short On Taxes | Bostonomix
With Massachusetts in the final month of the fiscal year, state budget officials are looking at a balance sheet that shows tax revenues coming in $2.253 billion short of expectations for the year, an 8.3% drop that might have to be covered with reserves or federal bailouts.
The Department of Revenue on Wednesday released its May revenue report that showed tax collections of $1.74 billion missing the monthly target by $320 million and reflecting a $262 million, or 13.1%, decrease from last May.
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Ohio lawmakers might take another look at coronavirus law change that lets cities collect income
An Ohio lawmaker says she may take another look at a recent law change that affects tax withhold for work-from-home employees who are no longer commuting to a different city. (AP Photo/Mark Lennihan, File) AP
But, she said, "If people truly are not going into the cities at all and they haven't been there for months, and they're going to continue to telework from home, perhaps they should be paying taxes where they are working."
May revenue report: State $2.25B short on taxes | Local News | gloucestertimes.com
BOSTON — With Massachusetts in the final month of the fiscal year, state budget officials are looking at a balance sheet that shows tax revenues coming in $2.253 billion short of expectations for the year, an 8.3% drop that might have to be covered with reserves or federal bailouts.
The Department of Revenue on Wednesday released its May revenue report that showed tax collections of $1.74 billion missing the monthly target by $320 million and reflecting a $262 million, or 13.1%, decrease from last May.
Cannabis Businesses Could Save Millions In Taxes Depending On The Outcome Of A California
The cannabis industry is closely watching a U.S. Ninth Circuit Court of Appeal challenge to Section ... [+] 280E of the Internal Revenue Code.
The two amicus briefs, from leading trade organizations the National Cannabis Industry Association, and the Marijuana Industry Group, in collaboration with the Cannabis Trade Federation Action Group, back up the dispensary's challenge.
Accordingly, Harborside is appealing a 2018 U.S. Tax Court decision that upheld the dispensary's bill for the tax years 2007-2012. It's arguing in the Ninth Circuit that 280E violates the 16th Amendment (which establishes the government's right to levy income tax). Harborside's argument on the constitutionality question: Section 280E does not tax "income."
State takes in $40 million in taxes from four months of pot sales
Taxes from adult-use marijuana sales topped $40 million during the first four months of legalization, easily outpacing the state's budget expectations. Associated Press/December 2013
Illinois has received more than $40 million in tax revenue from adult-use marijuana sales during the past four months.
In April, the state received $9.7 million in combined marijuana taxes and associated sales taxes, according to the Illinois Department of Revenue figures released Thursday. Marijuana tax revenue provided nearly $6.5 million, and there was more than $3.2 million in associated sales taxes.
Happening on Twitter
"Reflections on the Color of my Skin" [Commentary: 2400 words] https://t.co/QBG784yg3R https://t.co/ZdA5ni777x neiltyson (from New York City) Wed Jun 03 22:29:49 +0000 2020
"Black anarchists steal nice white kid's skateboard." ~Fox News anchor commentary, probably. https://t.co/yIRVWsffeZ David_Leavitt (from Social Distancing) Wed Jun 03 14:52:40 +0000 2020
"Reflections On the Color of My Skin" [Commentary: 2400 words - on a higher bandwidth server]… https://t.co/UsbPQN3uGU neiltyson (from New York City) Thu Jun 04 22:22:16 +0000 2020
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