Saturday, September 26, 2020

Colorado Supreme Court decision forces Summit County to pay nearly $646K in property tax refunds

FRISCO — In response to a Colorado Supreme Court decision that set a new precedent for property tax regulations, the Summit County Assessor's Office has refunded nearly $646,000 in property taxes and might have to refund more. 

In February, three Summit County property tax cases made their way to the state Supreme Court, enabling the court "to unravel the mysteries of what constitutes residential land," as Justice William Hood III put it in the court's opinion. 

Author: author libby stanford
Twitter: @SummitDailyNews
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In case you are keeping track:

Final Section 864(c)(8) Regulations – Some Relief for Certain Non-U.S.

On September 21, 2020, the IRS finalized regulations (the “Final Regulations”) under section 864(c)(8) of the Internal Revenue Code (the “Code”). The Final Regulations generally impact foreign partners in partnerships engaged in a U.S. trade or business and generally retain the approach of proposed regulations that were issued on December 20, 2018 (REG-113604-08) (the “Proposed Regulations”), with certain revisions.

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Section 864(c)(8) was added to the Code by the Tax Cuts and Jobs Act, Public Law 115-97 (2017), which was enacted on December 22, 2017. Section 864(c)(8)(A) provides that gain or loss of a foreign partner from the sale, exchange, or other disposition of an interest in a partnership that is engaged in a trade or business within the United States is treated as effectively connected to the extent such gain or loss does not exceed the amount determined under section 864(c)(8)(B).

Publisher: JD Supra
Twitter: @jdsupra
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INSIGHT: Tax Audits in Vietnam
Author: Nguyen Dinh Huy and Nguyen Hung Du of Grant Thornton Vietnam explain how businesses need to prepare for a tax audit in Vietnam looking at the common areas likely to be challenged by the tax authorities
Twitter: @tax
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Q&A: Senate District 9 Candidate John Stahlman Clark » Albuquerque Journal

What steps should the Legislature take to ensure New Mexico has a balanced budget amid falling oil prices and an economic downturn prompted by the coronavirus outbreak?

In light of the falling oil prices and economic downturn due to COVID-19, it is imperative to restructure the budget, make cuts where necessary and reduce the rate of increases to ensure a balanced budget without raising taxes. We can’t jumpstart our economy by raising taxes.

Date: The Candidate
Author: The Candidate
Twitter: @abqjournal
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Many things are taking place:

On Issue 1: Nice roads, lasting tax

Dear John: You refer to a column about congestion on Interstate 40 between North Little Rock and West Memphis.

A mention was made of Issue 1, which if passed Nov. 3 would make permanent a temporary half-cent sales tax, the proceeds of which go to the Arkansas Department of Transportation, counties and cities. For road work.

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Not exactly, he said, but the money raised by Issue 1 could speed the process. There was also mention of tolls, but Ort said federal regulations don't allow for interstate tolls, except for those grandfathered in.

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Publisher: Arkansas Online
Date: 2020-09-26 3:50
Author: Frank Fellone
Twitter: @arkansasonline
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Cohen & Steers REIT and Preferred and Income Fund, Inc.

NEW YORK, Sept. 25, 2020 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) (the "Fund") with information regarding the sources of the distribution to be paid on September 30, 2020 and cumulative distributions paid fiscal year-to-date.

The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund.

Publisher: Daily Journal
Date: 2020-09-25T20:12:00-0500
Twitter: @DJournalnow
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PM Modi has prolific 10 days as Opposition shuns Parliament | Deccan Herald

India's latest parliament session ended in 10 days but it was one of the most productive in Prime Minister Narendra Modi's six year stint, as his administration managed to push through a stalled reform agenda to try and reverse the worst economic downturn in decades.

The legislative reforms, including overhauling labour laws to farm regulation and finance, were pushed through by a voice vote with very little discussion or debate. Angry opposition lawmakers protested vociferously and eight were even suspended for "unruly behavior" amid angry scenes in both houses.

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Publisher: Deccan Herald
Date: 2020-09-26T08:03:12 05:30
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Australia - Tax to be levied for RPA and Model Aircraft - sUAS News - The Business of Drones

Drone taxes are coming! In late August 2020, the Parliament proposed 2 draft laws (Bills) concerning the levy for the registration of drones in Australia. The levy will initially be nil for the current financial year and afterwards could be up to $300. The levy will commence on 30 September 2020 for RPA and not until 2022 for Model Aircraft.

The  Civil Aviation Safety Amendment (Remotely Piloted Aircraft and Model Aircraft—Registration and Accreditation) Regulations 2019  made on 25 July 2019 provide for the registration of certain RPA and Model Aircraft; and the accreditation of their operators – through online training and examination. The registration scheme commences for RPA on 30 September 2020, and registration requirements for Model Aircraft commence in 2022.

Publisher: sUAS News - The Business of Drones
Date: 2020-09-25T11:46:36 00:00
Twitter: @suasnews
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