Many stakeholders have called for the United States to adopt a carbon tax. Such a tax could raise billions of dollars in annual revenue while simultaneously reducing greenhouse gas emissions. Several carbon tax proposals were introduced in the last Congress (2019-2020 term), and it is likely that several more will be introduced in the new Congress. Several conservative economists have endorsed the idea, as has Janet Yellen, President Biden’s Secretary of the Treasury.
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The point of a carbon tax is to reduce greenhouse gas emissions by imposing a price on those emissions. But there is more than one way to impose that price. Critically, the range of options depends, to a very large degree, on the type of greenhouse gas the tax is trying to address.
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Hearing Scheduled On Proposed Corporate Income Tax Regulations – Los Alamos Reporter
The New Mexico Taxation and Revenue Department will hold a public hearing Feb. 25 on proposed regulations related to the Corporate Income and Franchise Tax Act and the Uniform Division of Income for Tax Purposes Act.
The proposed rules are intended to accompany changes to the tax code enacted in 2019. The changes eliminated separate entity reporting for C Corporations and made unitary combined reporting the default filing method for such corporations.
Hearing on proposed corporate income tax rules slated for Feb. 25 » Albuquerque Journal
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AgweekTV Full Show: Tax and environmental policies, February WASDE, H-2A, Tuttle Rural Innovation
This week on AgweekTV, some farm groups express concerns about possible changes in tax and environmental policies in the Biden administration. There are some surprises in the February WASDE report. We'll have analysis. There could be good news for farmers needing foreign workers under the H-2A visa program. And one small town turns its former school into a center for rural innovation.
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\u0009FARM GROUPS ARE EXPRESSING SOME CONCERN ABOUT POTENTIAL CHANGES FOR AGRICULTURE UNDER THE BIDEN ADMINISTRATION, FROM TAXES TO ENVIRONMENTAL REGULATIONS.
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Maryland Digital Advertising Services Gross Receipts Tax
On February 12, 2021, the Maryland General Assembly overrode Governor Larry Hogan's veto of HB 732 (2020) (the Act), a bill enacting a first-of-its-kind digital advertising services tax on the annual gross receipts from the provision of digital advertising services in Maryland. The tax only applies to companies having annual gross revenues (without deduction of any expenses) from all sources of $100 million or more.
Even though the legislation says the tax is effective July 1, 2020, under the Maryland Constitution, vetoed legislation becomes effective the later of the effective date in the bill or 30 days after the veto is overridden. Based on today's veto override, the bill should become effective on or about March 14, 2021.
Tax Complexity and Transfer Pricing Blueprints, Guidelines, and Manuals
One of the stated goals of the Pillar One Blueprint (Pillar One) and the Pillar Two Blueprint (Pillar Two) is the desire of the OECD/Inclusive Framework (OECD/IF) to reduce tax complexity for both taxpayers and tax jurisdictions. Tax complexity imposes compliance costs and distorts behaviors, making the principles of a good tax system harder to achieve.
This article assesses the Blueprints in terms of one particular type of tax complexity: rule complexity, i.e., the problems faced by taxpayers when interpreting the written and unwritten tax rules (Bradford 1986, cited below). Rule complexity is generated when government documents (e.g., regulations, guidelines, manuals) are extensive and detailed, or have many interrelated and interdependent parts that overlap or interact with one another.
Congress Pursues Child Tax Credit and Other Relief to Help Families - The New York Times
WASHINGTON — The early weeks of the Biden administration have brought a surge of support, in the White House and across party lines in Congress, for what could be the most ambitious effort in a generation to reduce child poverty.
One such plan is a cornerstone of the legislative text that House Democrats introduced on Monday as part of what will become a sweeping bill to implement President Biden's proposed $1.9 trillion economic aid package. That text included a monthly benefit of $300 per child for those age 5 and younger — and $250 per child ages 6 to 17 — as a means of making good on Mr.
Letter to the Editor: STR Ordinance Would Offer Local Protections - Door County Pulse
The Sevastopol Board of Supervisors is reviewing a proposal for a Short Term Rental (STRs) Ordinance. I commend the plan committee and board of supervisors for recognizing the need for STR regulation and licensing. In the Jan. 29 Peninsula Pulse , Jonathan A. Salit addressed his concerns about STR regulations. Here's why they're necessary.
In Door County, short-term rentals have had the effect of pulling long-term rentals off the market, decreasing the availability of affordable housing and increasing the cost for potential home buyers.
Happening on Twitter
Elon Musk says the Biden administration shot down his carbon tax pitch https://t.co/uBeY3uVCUy https://t.co/72o2NCOCCB verge (from New York) Fri Feb 12 19:23:48 +0000 2021
Detailed Tory plan will 'probably' meet climate goals faster than Liberals, without a federal carbon tax: O'Toole https://t.co/QFWY9c1wIR nationalpost (from Canada) Fri Feb 12 03:25:30 +0000 2021
Elon Musk: 'My top recommendation' for reducing greenhouse gas emissions is a carbon tax (via @CNBCMakeIt) https://t.co/pfCjEQVOwL CNBC (from Englewood Cliffs, NJ) Fri Feb 12 22:02:21 +0000 2021
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