Corporate Income Taxes. Legal news and articles for March 30 - 31, 2012

Keeping the extras downRowan University students help residents filing income taxesIncome Tax refundPranab defends IT Act amendment with retrospective effectHicks: What to do about taxes?Pranab Mukherjee defends amendment of IT Act with retrospective effectKansas legislators break off talks over tax cutsBigger Tax Refund For Some in ConnecticutLegislative leftovers: On elimination of a state income tax, and union duesNH expects to sell $2 million in tickets FridayAmerica needs an income tax increase, not a decreaseMaine Senate Republicans Revive Controversial Income Tax BillFederal Budget 2012: Significant Business Income Tax MeasuresWill New California Income Tax Hike Drive Rich Away?Senate approves amended bill to lower Maine's top income tax rate

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Many income tax refunds are 'late'
Fowler TribuneMarch 1, 2012

As with the start of any tax season, there are system validations that occur requiring some fine-tuning of our systems. As part of this, some taxpayers will receive refunds approximately one week later than initial projections they may have received, ...more »

Law provides dollar-for-dollar tax credit
YourWestValley.comMarch 1, 2012

Jan Brewer signed legislation Wednesday to allow individuals to divert more money they would otherwise owe the state to instead help children attend private and parochial schools. The new law provides a dollar-for-dollar income tax credit of up to $500 ...more »

Corporate Income Taxes. News and Stories

Keeping the extras down
Malaysia StarMarch 31, 2012

Please advise whether I can claim the loss of RM3,000 to offset against my dividend income in my BE Tax Return for 2011. Under the Income Tax Act, the RM3,000 cannot be deducted from other sources of income such as your dividend income.more »

Rowan University students help residents filing income taxes
NJ.comMarch 31, 2012

By Don E. Woods/Gloucester County Times Rowan University students help make tax season easier through the VITA Program. With the Volunteer Income Tax Assistance Program, the benefits are two-fold. Accounting students acquire real world experience and ...more »

Income Tax refund
Hindu Business LineMarch 31, 2012

I am to pay income tax of Rs 948 this month. As I have no savings for deduction, I have told the bank to deduct the amount from my pension for the month of March 2012. I have taken a reverse mortgage loan of Rs 4,00000 in September 2009 from ...more »

Pranab defends IT Act amendment with retrospective effect
India TodayMarch 31, 2012

Finance Minister Pranab Mukherjee on Saturday defended the move to amend the Income Tax Act with retrospective effect following which UK's Vodafone may have to pay Rs 11000 crore as tax for a buyout deal involving Indian business.more »

Hicks: What to do about taxes?
Edmonton SunMarch 31, 2012

It's about our wretched, overly complicated and deeply deceptive tax system. When the Income Tax Act was introduced in 1917, it was 11 pages long. Tax “credits” have crept a long, crept along. With every new government budget, a new tax credit is ...more »

Pranab Mukherjee defends amendment of IT Act with retrospective effect
Economic TimesMarch 31, 2012

KOLKATA: Finance Minister Pranab Mukherjee today defended the move to amend the Income Tax Act with retrospective effect following which UK's Vodafone may have to pay Rs 11000 crore as tax for a buyout deal involving Indian business.more »

Kansas legislators break off talks over tax cuts
BusinessWeekMarch 31, 2012

House and Senate negotiators suspended talks Thursday on working out their chambers' differences on bills reducing individual income taxes and eliminating the income tax for some businesses. They also remain divided on cutting the sales tax. Sen.more »

Bigger Tax Refund For Some in Connecticut
NBC ConnecticutMarch 31, 2012

By Chris Coffey Some in Connecticut may see bigger state tax refunds thanks to the Earned Income Tax Credit. Connecticut can take a big chunk of your earnings. But at the same time the state is giving back to low and middle income taxpayers.more »

Legislative leftovers: On elimination of a state income tax, and union dues
Atlanta Journal Constitution (blog)March 31, 2012

Nathan Deal implies that the tax reform package passed by the Legislature could limit Republican ability to tackle a long-term topic – elimination of the state income tax: ”It is very difficult in a state like Georgia, where virtually half of all of ...more »

NH expects to sell $2 million in tickets Friday
Boston.comMarch 30, 2012

New Hampshire is one of the few states without a state income tax. McIntyre said if a New Hampshire resident purchased the winning ticket in state, they would be spared having to pay a state income tax. But if a New Hampshire resident bought the ...more »

America needs an income tax increase, not a decrease
Bangor Daily NewsMarch 30, 2012

By Rufus Wanning, Special to the BDN Somehow, large numbers of people have been convinced that cutting taxes for the rich would be good for everybody, against all historical evidence. The attack on the progressive income tax is justified by what ...more »

Maine Senate Republicans Revive Controversial Income Tax Bill
MPBN NewsMarch 30, 2012

As a major reform effort, the Republicans' LD 849 bills itself as an act to provide tax relief to Maine's citizens by reducing taxes. It operates on the assumption that in times of revenue surpluses, those tax collections should be used to lower the ...more »

Federal Budget 2012: Significant Business Income Tax Measures
BlakesMarch 30, 2012

The net effect of this planning is to erode the Canadian tax base, frequently sheltering Canadian operating earnings from corporate income tax, and to utilize Canadian earnings outside Canada without payment of withholding tax. Under existing law...more »

Will New California Income Tax Hike Drive Rich Away?
Investor's Business DailyMarch 30, 2012

Jerry Brown has just signed on to a labor-backed ballot initiative to raise tax income tax rates to as high as 13.3%, and so far the voters seem to approve. A new Los Angeles Times poll puts public support for the plan at 64%.more »

Senate approves amended bill to lower Maine's top income tax rate
Bangor Daily NewsMarch 30, 2012

By Eric Russell, BDN Staff AUGUSTA, Maine — The Maine Senate on Friday kept alive a controversial proposal that would use surplus state revenue to lower state income tax rates. In a slightly bipartisan 21-11 vote, the Senate passed an amendment that ...more »

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