Saturday, January 2, 2021

IRS Foreign Income Tax Rules: Allocation & Apportionment

The rules provided in the 2020 Proposed Regulations would apply for purposes of assigning foreign taxes paid on disregarded payments to or from a foreign branch of a domestic corporation to a section 904 category ( i.e. , foreign branch category, section 951A category, passive category or general category).

As a result, the 2020 Proposed Regulations may provide for significantly different availability of foreign tax credits than under the 2019 Final Regulations or the 2019 Proposed Regulations.

Publisher: The National Law Review
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In case you are keeping track:

COLORADO 2021 LAWS: New year, new laws for Coloradans in 2021

DENVER (KDVR) — Following a pandemic and a general election, Colorado will see a spate of new laws and regulations kick in in the new year from legislation, ballot initiatives and executive orders from the governor’s office.

The new laws, some driven by the coronavirus pandemic, run the gamut from taxes to wolves, but have common elements. The plurality expand worker and resident entitlements and taxes, while a minority promote conservative ideas such as citizenship laws and check on state government expansion.

Publisher: FOX31 Denver
Date: 2021-01-01T22:16:08 00:00
Reference: (Read more) Visit Source



Tax reduction remains core goal for Butler County state senator

The 16-year state senator for Butler County and the man who will replace him both said Friday that the office has been used to seek lower tax rates for businesses and that is likely to continue going forward.

State Sen. Bill Coley, R-Liberty Twp., is leaving office after 16 years in the Ohio General Assembly. He and State Rep. George Lang, R-West Chester Twp., spoke Friday in a video-based interview about Coley's tenure and Lang's goals going forward.

Publisher: WCPO
Date: 2021-01-01T22:57:56.168
Author: https www wcpo com mike rutledge journal news
Twitter: @wcpo
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Tennessee employment protection and tobacco age restriction laws take effect - JURIST - News -

Several new Tennessee state laws take effect on January 1. The new rules include protections for pregnant workers, changes to tobacco laws, an expansion of the emergency alert system and tax regulations for sharing platforms.

Pregnant workers at companies with more than 15 employees will be guaranteed some accommodations including extra restroom breaks and decreased standing requirements. Civil legal remedies are available for workers who are denied these reasonable accommodations.

Reference: (Read more) Visit Source



This may worth something:

What Developers Need to Know About New Philadelphia Tax Legislation Affecting Development

Responding to calls from Philadelphia’s housing advocates to generate tax revenue for affordable housing, Philadelphia City Council adopted a trio of ordinances on December 2, affecting most new construction projects throughout the City. Mayor Jim Kenney is expected to sign the legislative package before the end of the year.

* * *

Most impactful among the new Philadelphia tax legislation is a new “Development Impact Tax,” which will be imposed on the construction of  “any structure for human occupancy for residential purposes, or making any improvements to any such structure, for which a building permit is required.

Publisher: JD Supra
Twitter: @jdsupra
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Regulations take California policies nationwide | Staff Columnists | theindependent.com

WASHINGTON — A week ago, President-elect Joe Biden introduced his climate team at The Queen Theater in Wilmington, Delaware.

Biden's would-be energy secretary, former Michigan Gov. Jennifer Granholm, talked about U.S. investment of trillions for "electric cars, solar panels, wind turbines and energy-efficient appliances and buildings."

Biden said, "A key plank of our Build Back Better economic plan is building a modern, climate-resilient infrastructure and clean energy future."

Publisher: The Grand Island Independent
Author: Debra Saunders
Twitter: @theindependent
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Presidency in review: Which campaign promises did Trump uphold? | News | journalstar.com

What promises did President Donald Trump keep during his four years in office? Stacker took a look using data from PolitiFact's Trump-o-Meter.

On the campaign trail in 2016, President Donald Trump made numerous promises about what he would do when he reached the White House.

Among Trump's campaign promises was a pledge to roll back regulations implemented by his predecessor, President Barack Obama, and renegotiate the Iran nuclear deal, which Trump roundly criticized. Trump also pledged to withdraw the United States immediately from the Paris climate accord and redo NAFTA.

Publisher: JournalStar.com
Author: Aine Givens
Twitter: @JournalStarNews
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New year, new laws: January 2021 legislation goes into effect in DC, Maryland and Virginia | WTOP

With the new year just around the corner, some D.C.-area jurisdictions have new laws on the books. Here’s a brief compilation of laws and regulations slated to go into effect on Jan. 1, 2021, or shortly thereafter.

One thing to note: If you use headphones to talk hands-free on your cellphone, Virginia law only allows drivers to have an earbud in one ear .

Exceptions to the new law include using your phone to report an emergency, and using your phone while legally parked or stopped. There are also exemptions for emergency crews who are on the job.

Publisher: WTOP
Date: 2020-12-30T15:57-05:00
Author: News Traffic Weather
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