Corporate Income Taxes. Legal news and articles for December 30 - 31, 2011

However, the General Counsel for Jones & Guerrero, John T. Brown, disagrees.Politicians, generals, judges benefit from lawsAs Puerto Rican tax credit ended, profits went abroadElection reforms, tax initiatives will shape 2012State revenue rises, but not enough to offset cutsFar-reaching tax changes kick in for MichiganMass income, corporate tax rates fall in new yearTax reform panel releases reportReview of federal tax laws overdueLegislative task force calls for reducing Oklahoma's top personal income tax rateLaws set to take effect New Year's DayUnited Way again offering assistance with tax preparationOutlook: More Obamacare taxes on the wayTax scams that can get you into big trouble with the IRSOfficial 2011 Income Tax Brackets

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Kansas revenue department refuses Journal-World's request for information ...
Lawrence Journal WorldDecember 1, 2011

Brownback's stated intention to overhaul the state tax code has generated a lot of interest and speculation. In past statements, Brownback has said he wants to reduce or eliminate the state income tax as a way to grow the economy. ...more »

New State Tax Code Lessens Burden On Small Business Payrolls
27east.comDecember 9, 2011

“The new changes are certainly a good start—but ultimately the tax needs to go away.” The changes to the MTA tax were folded into a broad revamping of the state's overall tax code, one that also included tax hikes for some of the state's wealthiest ...more »

Corporate Income Taxes. News and Stories

However, the General Counsel for Jones & Guerrero, John T. Brown, disagrees.
Pacific News CenterDecember 31, 2011

That is a matter of tax law, US tax law. If there is a dispute over the amount, timing or eligibility of the use of a tax credit, is that determined under the procurement code (see, 5 GCA § 5427 re contract controversies), or is it determined by the ...more »

Politicians, generals, judges benefit from laws
The News InternationalDecember 31, 2011

As far as bureaucrats, ministers, judges and generals are concerned, they deposit tax amounts on their declared incomes and not on the gifts, remittances etc which they enjoy and are not bound to be (under the law) declaring them for calculation of ...more »

As Puerto Rican tax credit ended, profits went abroad
Minneapolis Star TribuneDecember 31, 2011

Without a break, any cash brought back to the United States would be taxed at the federal income-tax rate of 35 percent, with a credit for foreign income taxes already paid. Medtronic, based in Fridley, paid income taxes in fiscal 2011 at a rate of ...more »

Election reforms, tax initiatives will shape 2012
San Jose Mercury NewsDecember 31, 2011

At the same time, voters likely will be asked to consider tax increases even as the state's economy remains stalled by slow growth and high unemployment. A host of new election rules, many approved by voters, will affect how campaigns are run and how ...more »

State revenue rises, but not enough to offset cuts
CBS NewsDecember 31, 2011

Brown has proposed a 2012 ballot initiative to raise $7 billion annually through 2016 by boosting income taxes on individuals making $250000 or more a year and increasing the state sales tax by a half-cent. He also has submitted a plan to the ...more »

Far-reaching tax changes kick in for Michigan
Battle Creek EnquirerDecember 31, 2011

Public pensions for those born after 1945 no longer will be exempt from the state income tax, and much more retirement income will be subject to taxation, adding up to an annual bill for retirees that will increase by $300 million even though ...more »

Mass income, corporate tax rates fall in new year
CanadianBusiness.comDecember 31, 2011

By AP | December 31, 2011 BOSTON (AP) — Massachusetts is ringing in the new year with tax cuts, though the savings may not be noticeable to most residents. As of Sunday, the state's income tax rate will drop slightly from 5.3 percent to 5.25 percent, ...more »

Tax reform panel releases report
Tulsa WorldDecember 31, 2011

But to keep the state treasury from losing money, the income tax cut would come at the cost of some tax benefits that are popular with Oklahomans. The wide-ranging task force report includes several other changes in state tax law, and envisions a day ...more »

Review of federal tax laws overdue
Grand Island IndependentDecember 31, 2011

It was subject to the maximum 15 percent tax on capital gains. Why the distinction? Because hedge fund income is classified as "carried interest," and thus taxed as a capital gain. Why? Because Congress, as the source of tax laws, allows it. ...more »

Legislative task force calls for reducing Oklahoma's top personal income tax rate
NewsOK.comDecember 31, 2011

“We must transform the tax code,” said Sen. Mike Mazzei, co-chairman of the task force. “It is simply wrong when a special interest group benefits from an obsolete or ineffective tax preference at the expense of hardworking Oklahomans who deserve to ...more »

Laws set to take effect New Year's Day
Elmira Star-GazetteDecember 31, 2011

Here's a list of some of the new laws taking effect Jan. 1: - The state's new tax code, which includes a modest tax decrease for middle-income earners and a higher rate for families making more than $2 million. - A cap on property taxes, limiting the ...more »

United Way again offering assistance with tax preparation
Huntington Herald DispatchDecember 31, 2011

The grant of $35000 will increase access to the Earned Income Tax Credit through free tax preparation and filing services. "We are excited to continue this partnership and provide even more free income tax services to those who need it most," Ed Davis, ...more »

Outlook: More Obamacare taxes on the way
Washington TimesDecember 31, 2011

By John Kartch The Affordable Care Act - also known as Obamacare - contains 21 new or higher taxes on the American people. Eight of the tax hikes have already gone into effect, and a year from now five more will take force. These taxes will increase ...more »

Tax scams that can get you into big trouble with the IRS
Washington PostDecember 31, 2011

This position is erroneously based on a provision of the tax code (Section 6020) that allows the IRS to determine the tax liability of a taxpayer and to prepare a tax return for persons who do not file or who file a false return. ...more »

Official 2011 Income Tax Brackets
The Dough RollerDecember 30, 2011

For the 2011 tax year, tax returns will be due April 17, 2012 (April 15, 2012 falls on a Sunday and April 16, 2012 is Emancipation Day in the District of Columbia). So I thought it would be helpful to pull together the income tax brackets for 2011. ...more »

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