Tuesday, September 15, 2020

Corporate leaders expect taxes to go up if Trump or Biden win, survey says

Most business leaders are preparing for corporate taxes to go up following the 2020 presidential election, regardless of who becomes the next commander in chief, according to a new survey.

PricewaterhouseCoopers recently conducted a survey focused on 578 U.S. executives, including chief financial officers, chief operating officers and various risk management officers.

Thirty-five percent "strongly agree" that corporate taxes will go up under Trump or Biden, the poll said.

Publisher: CNBC
Date: 2020-09-15T17:30:01 0000
Author: https www facebook com CNBC
Twitter: @CNBC
Reference: (Read more) Visit Source



Not to change the topic here:

Why adjust Alabama's online sales taxes? - al.com

I appreciated John Sharp's article explaining the impact the Simplified Sellers Use Tax (SSUT) has had in helping supplement tax revenues during the pandemic. One thing I feel often gets overlooked in the discussion of SSUT is the United States Supreme Court's 2017 ruling in South Dakota v. Wayfair. The origins of Alabama's SSUT program goes back to before the Wayfair decision. Prior to this landmark ruling, online sales were not subject to sales tax.

Publisher: al
Date: 2020-09-15T20:44:14.442Z
Author: John Haggard
Twitter: @aldotcom
Reference: (Read more) Visit Source



What the payroll tax deferral means for your wallet — and what you’ll pay back in

By the end of the week, many federal employees will see a small bump in their next paychecks, the first signs of the president’s payroll tax deferral.

For active-duty military members , the president’s payroll tax deferral is already here, as mid-month paychecks arrived Tuesday for most.

Employees whose gross, biweekly wages are $3.999.99 or less are subject to the president’s payroll tax deferral.

Employees and servicemembers who meet this guideline will automatically have their Social Security taxes — 6.2% of their income — deferred from their upcoming paychecks. There is no option to opt-out of the president’s payroll tax deferral, nor is there an opportunity to opt in.

logo
Publisher: Federal News Network
Date: 2020-09-15T16:55-04:00
Reference: (Read more) Visit Source



Senate joins House in not deferring payroll taxes for staff - Roll Call

The Senate will join the House in opting out of the payroll tax deferral option touted by President Donald Trump.

"My belief is that we are, we are not moving forward with the payroll tax deferral in the Senate," Senate Rules and Administration Chairman Roy Blunt said Tuesday.

Blunt, a Missouri Republican, was asked about concerns noted last week by the Senate Disbursing Office about the ability of payroll software and systems to even implement such a change in tax withholding.

Publisher: Roll Call
Reference: (Read more) Visit Source



This may worth something:

California retailers must stop 'largest tax increase' - Home Furnishings Association
Publisher: Home Furnishings Association
Date: 2020-09-15T03:00:56 00:00
Twitter: @my_HFA
Reference: (Read more) Visit Source



Walters: Supreme Court making local tax hikes easier

In a roundabout, passive way, the California Supreme Court last week handed a big victory to the advocates of higher taxes.

Without comment, the justices declined to take up a state appellate court decision that would allow specialized local government taxes to be increased by a simple majority of voters, if they are placed on the ballot by initiative petitions rather than by the governments themselves.

Publisher: The Mercury News
Date: 2020-09-15T12:45:11 00:00
Twitter: @mercnews
Reference: (Read more) Visit Source



US drops tax on Canada aluminum, heading off retaliation – San Bernardino Sun

The Trump administration said Tuesday that it is dropping taxes on Canadian aluminum, easing tensions with a close ally just hours before Canada was prepared to impose retaliatory sanctions.

The Office of the U.S. Trade Representative said the U.S. is ending the 10% tariffs a month after imposing them. The U.S. had charged last month that an influx of Canadian aluminum justified the levy.

logo
Publisher: San Bernardino Sun
Date: 2020-09-15T19:57:23 00:00
Reference: (Read more) Visit Source



Report: Regional taxes would drain jobs, investment | News | salemnews.com

BOSTON — A conservative think tank says legislation that would give cities or towns the power to authorize a local surtax to fund transportation projects could lead to "potentially devastating economic effects across local economies within Massachusetts."

"This analysis shows that, within Suffolk County, tax surcharges of the kind considered here would inflict substantial losses in employment, investment, and disposable income.

The Senate's version of the bond bill (S 2836) would authorize regional ballot initiatives for transportation purposes, a system in which any city or town could approve a surtax within its borders and direct the additional revenue toward transportation revenue.

Publisher: Salem News
Author: BOSTON A conservative think tank says legislation that would give cities or towns the power to authorize a local surtax to fund transportation projects could lead to potentially devastating
Twitter: @salemnews
Reference: (Read more) Visit Source



Happening on Twitter

No comments:

Post a Comment