The Colorado Supreme Court gave its blessing Monday on a proposed tax change that would bring in hundreds of millions in additional annual revenue for school districts and wouldn’t rely on voter approval.
The court said in an opinion that HB21-1164 , a Democrat-led bill headed to Gov. Jared Polis, is legal because voters had already consented to what is being proposed. The opinion runs contrary to previous guidance from the state Department of Education.
Senate bill would impose taxes on large endowments to fund apprenticeships
The bill would also require these institutions to disburse at least 5 percent of their endowment per year “to support their educational mission,” according to a release. The penalty for failing to distribute the funds would be equal to 30 percent of the undistributed excess endowment amount.
“Our wealthiest colleges and universities have amassed billions of dollars, virtually tax-free, all while indoctrinating our youth with un-American ideas,” Cotton said in a statement, adding that the revenue would “create high paying, working-class jobs.”
Ned Lamont Says No More Taxes - WSJ
Connecticut's budget surplus this year is projected to be $470 million. Its rainy-day fund will hit an all-time high of $4.5 billion. Federal coronavirus relief is bringing $6 billion into the state. So the Legislature, naturally, is proposing to raise taxes. Give Gov. Ned Lamont credit for saying no.
Connecticut used to be the low-tax haven with a quick ride to Manhattan, but decades of tax-and-spend policies have eroded its comparative advantage. Today the state taxes capital gains as regular income, with rates up to 6.99%. State lawmakers now want to add a "surcharge" on high earners, meaning a combined cap-gains rate of 8.99% on single filers making more than $500,000.
Why Your Taxes In Retirement Will Likely Be Lower Than You Expect
Overjoyed exited middle aged married couple giving high five, finishing doing domestic paperwork ... [+] together at home. Euphoric happy older mature spouses celebrating successful investment or purchase.
One of the most common mistakes I see people make is overestimating their tax rate in retirement. This is important for a couple of reasons. First, as Roth 401(k) and 403(b) plans become more common, estimating your future tax rate is a big factor in deciding whether you should make Roth or pre-tax contributions. Second, your tax rate is used to estimate your after-tax retirement income in determining how much you need to save.
Staton: Developing a strategy with taxes, retirement | Your Valley
Concerned about how taxes may affect your retirement? If so, you're part of a growing cadre of Americans, some of whom are beginning to reassess their finances as a result of the COVID-19 pandemic and the uncertainties it brought about.
Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.
Independent US oil, gas drillers fight higher taxes, leasing ban | S&P Global Platts
In this week's Market Movers Americas, presented by Emily Burleson: * US-Iran talks blunt Americas...
Brazil's New Gas Law gave the industry better legal stability and improved the outlook for future...
The White House and Democrats in Congress are looking at a number of ways to increase taxes and federal revenues from the oil and gas industry as part of their climate and clean energy agenda.
How much will I owe in taxes if I sell my house now? - nj.com
Q. I paid $141,000 for my house in 1987. It is now worth over $700,000. What taxes will I owe if I sell now as opposed to the taxes my kids will owe when they inherit the house when I pass? I'm not married.
We're going to assume, as part of this answer, that you were once married and your spouse passed away.
Businesses, Republicans raise the alarm over Biden taxes | Washington Examiner | denvergazette.com
As President Joe Biden promotes his several trillion dollars in proposed federal spending, Republicans and small businesses are raising the alarm, arguing the taxes needed to pay for those spending plans are a threat to the economy.
The House Ways and Means Committee met Thursday to discuss infrastructure development and in particular the impact of proposed tax increases to pay for it. Rep. Kevin Brady, R-Texas, the ranking member on the committee, argued that only 7% of Biden's proposed infrastructure bill goes to infrastructure and that raising taxes would incentivize employers to take jobs overseas.
Wealthy Americans Hold Back $600 Billion in Taxes Annually, Treasury Says | Voice of America -
WASHINGTON - The Biden administration says wealthy Americans withhold more than $600 billion in unpaid taxes from the Treasury every year, and it has proposed a detailed plan to bulk up the Internal Revenue Service's enforcement arm in an effort to increase tax compliance among high net worth individuals.
Improving the IRS's ability to track down tax cheats will generate approximately $700 billion in additional revenue over 10 years, and far more in the years after that, the administration says.
No comments:
Post a Comment