In the Senate, after the results of the run-off elections in Georgia became official, the split became 50/50 between Democrats and Republicans. Once Vice President-Elect Kamala Harris is sworn in, Democrats will control the Senate and her vote will be the tie-breaker. From a committee stand-point, Senator Ron Wyden (D-OR) will become the Chair of the Senate Finance Committee after the inauguration.
In the House, the Democrats have a narrow majority over Republicans of 222 to 211 with 2 seats to-be-filled from districts in Louisiana and New York. The majority may become temporarily smaller as Biden has asked one Democratic Representative to serve in his Administration and he will nominate two others to Cabinet positions, which will lead to vacant seats pending the outcome of special elections.
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Nissim Cohen Joins Mazars' Manufacturing & Distribution Practice
NEW YORK , Jan. 18, 2021 /PRNewswire/ -- Mazars, a leading accounting, tax, and consulting firm in the US, announced that Nissim Cohen , CPA has joined as Partner in the firm's New Jersey Manufacturing and Distribution Practice. Nissim will focus on providing value-adding tax services to clients of all sizes, ranging from large multinational corporations to privately-held businesses, including business owners.
Tifphani White-King, US National Tax Practice Leader, commented, "The tax environment has undergone substantial complex changes over the past few years and we anticipate further modifications to the tax laws under the incoming Biden administration. Nissim's extensive background in providing tax services at the federal, state and local levels will be of significant value to our clients as we support them through this time."
IRS Set to Publish Final Rule on Federal Excise Tax - Lexology
KS Legislature approves new property tax regulations
Kansas taxpayers would get more information about proposed property tax increases under a plan approved by lawmakers. Legislators passed a bill before wrapping up their session requiring cities and counties to send notices to residents when property tax collections will go up.
The bill also says local governments must hold public hearings on tax rates. Republican Senator Karen Tyson says it gives property taxpayers a better chance to weigh in on increases.
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Small business success equals community success - Alton Telegraph
If you haven’t figured it out, I enjoy quotes by great people. This week I again use a quote by Albert Einstein; he said “The world as we have created it is a process of our thinking. It cannot be changed without changing our thinking.”
Simply put, we need to alter our traditional thinking to enact and facilitate change within our community.
After a year like 2020, which impacted so many small businesses and communities, it is important that we remind ourselves of the true value small business brings to our community. Analyst Nick Rokke, of the Palm Beach Daily, recently indicated some great small business facts. Small businesses make up 99.7% of U.S. firms. They employ 49% of all Americans and create 64% of all new jobs. Let those figures sink in!
30 Things Donald Trump Did as President You Might Have Missed - POLITICO
Many Americans will remember President Donald Trump's presidency as a four-yearlong storm of tweets, rallies and on-air rants that ended in a mob riot and historic second impeachment. But there was more to the Trump presidency than attention-hogging political drama and conflict; often unnoticed, Trump and his administration actually did succeed in changing some of the ways Washington works.
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Pedro Rojas holds a sign directing people to an insurance company where they can sign up for the Affordable Care Act. | Joe Raedle/Getty Images
Operators expect competitive market when online gaming, sports betting launches in Michigan -
Online wagering is on the verge of launching in Michigan. (Photo used with permission from FanDuel Group)
Michigan's state gambling laws and competitive tax rates on online wagering has sportsbook and casino operators eager to launch in the state.
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Michigan has one of the lowest taxation levels on sports betting in the nation with an 8.4 percent state tax on revenue. The same will apply to online sportsbooks, although taxes on online casino gaming range from 20 to 28% depending on the casino's total revenue from online gaming. Other states levy much higher rates on sports betting, such as Pennsylvania at 36%.
Texas oil and Biden's climate plan: We examined the impact
President-elect Joe Biden has outlined an ambitious environmental agenda , centered around a goal of "transitioning away" from the fossil fuel industry.
His proposals — from adopting tougher methane regulations to incentives for Americans to buy cars that do not run on gasoline — could have an outsized impact in Texas, which produces the most crude oil and natural gas in the country.
But in Texas, where small, independent operators play a significant role in oil production, Biden’s policies could pack more of a punch.
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