Corporate Income Taxes. Legal news and articles for April 27 - 29, 2017

Shippers Take Aim at Unresolved Income Tax Allowance Issues in Rate ProceedingsTax the rich? Seattle income tax lets the richest off the hookOregon tax proposal: Tax more businesses, lower income taxOregon Tax Proposal: Tax More Businesses, Lower Income TaxTrump's Tax Plan Scares the Holy Hell Out of Wall Street Giant Larry FinkUnder the Trump Tax Plan, We Might All Want to Become CorporationsTax filing: Can it ever get simpler?Trump's Tax Plan Could Turn 'Everyone and Their Dog' Into an LLCFacebook's Australian revenue questioned under new tax lawsCapitol ConsiderationsState and Local Tax Deduction: An Item Blurring Party Lines - The ...WashU Expert: Explaining the Trump tax proposal | The Source ...President Trump's tax plan could slash Trump's taxesEnd the Corporate TaxVote yes on the Alexander Local Schools income-tax levy

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Know the Law: Preparing for a 'border adjustment tax'
The Union LeaderApril 10, 2017

A border adjustment tax would replace the current corporate income tax with a tax that is imposed on corporate income from domestically-consumed goods and services only. A corporation's taxable income would be equal to its revenue from sales in the U.S ...more »

Kurdistan Region to enforce income tax law on private sector
RudawApril 9, 2017

The KRG approved a set of instructions this year to directly cut the income of those violating its income tax law. According to these instructions, Employees who fail to submit their income tax report on time will “be fined by 75,000 IQD.” They will ...more »

Corporate Income Taxes. News and Stories

Shippers Take Aim at Unresolved Income Tax Allowance Issues in Rate Proceedings
The National Law ReviewApril 29, 2017

FERC last year, the US Court of Appeals for the DC Circuit found that FERC's existing income tax allowance policy and rate of return policy, when applied to pass-through entities such as master limited partnerships (MLPs), creates a possibility of ...more »

Tax the rich? Seattle income tax lets the richest off the hook
Seattle TimesApril 29, 2017

The Seattle City Council is expected to call for a citywide income tax levied solely on the wealthy. The council vote Monday won't impose the tax, but would put the city behind the idea and start a two-month process for crafting and approving an ordinance.more »

Oregon tax proposal: Tax more businesses, lower income tax
McClatchy Washington BureauApril 29, 2017

Their proposal would replace Oregon's corporate income tax, among the nation's lowest, with a Measure 97-like tax on businesses' gross receipts, or revenues from business-to-business transactions for things like equipment and materials, beginning in ...more »

Oregon Tax Proposal: Tax More Businesses, Lower Income Tax
U.S. News & World ReportApril 29, 2017

Their proposal would replace Oregon's corporate income tax, among the nation's lowest, with a Measure 97-like tax on businesses' gross receipts, or revenues from business-to-business transactions for things like equipment and materials, beginning in 2018.more »

Trump's Tax Plan Scares the Holy Hell Out of Wall Street Giant Larry Fink
Vanity FairApril 28, 2017

said J. Richard Harvey, a tax law professor at Villanova University and a former senior official at both the Internal Revenue Service and the Treasury Department. “If a taxpayer has a choice between paying at a 15 percent top rate versus a 35 percent ...more »

Under the Trump Tax Plan, We Might All Want to Become Corporations
New York TimesApril 28, 2017

The scene at the Manhattan headquarters of WeWork, a company that rents shared office space in trendy settings — handy for the employee seeking to join the ranks of the self-employed. Changes in tax laws could make it more appealing for high earners ...more »

Tax filing: Can it ever get simpler?
Knoxville News SentinelApril 28, 2017

The complexity in defining “taxable income” is a reflection of the complexity of our economy and financial transactions. Those who claim we can have a simple income tax ignore the complexity of the tax laws and the economic environment in which we live.more »

Trump's Tax Plan Could Turn 'Everyone and Their Dog' Into an LLC
BloombergApril 28, 2017

Cue the rush among high-earning individuals to recast themselves as LLCs, sole proprietorships or other pass-throughs. “Absolutely!” said J. Richard Harvey, a tax law professor at Villanova University and a former senior official at both the Internal ...more »

Facebook's Australian revenue questioned under new tax laws
The Australian Financial ReviewApril 28, 2017

Advertising experts have cast doubt of Facebook's financial accounts, the first under the government's new tax avoidance laws, which show the social media giant booked $326.9 million in revenue in Australia in 2016. According to accounts lodged with ...more »

Capitol Considerations
Miami News RecordApril 28, 2017

House Bill 2298, which was signed by the governor, ends future income tax credits for wind production. Current law allows owners of wind turbines that begin operation before 2021 to claim a credit on the income earned from energy production. Now with ...more »

State and Local Tax Deduction: An Item Blurring Party Lines - The ...
New York TimesApril 27, 2017

The value to New York City taxpayers of itemized deductions for state and local taxes was $7.7 billion in 2014, or about $6,600 per affected taxpayer, according ...more »

WashU Expert: Explaining the Trump tax proposal | The Source ...
Washington University in St. Louis NewsroomApril 27, 2017

President Trump has revealed his proposed tax plan, which involves, among other things, cutting the corporate tax rate and reducing tax brackets to three, down ...more »

President Trump's tax plan could slash Trump's taxes
USA TODAYApril 27, 2017

And Trump's financial disclosure forms show income from more than 500 business entities, many of them limited liability companies and partnerships that also qualify as pass-throughs. “It's a very large tax cut for high-income people who get their ...more »

End the Corporate Tax
National ReviewApril 27, 2017

There's an old joke that General Electric is the world's greatest tax-law firm, with a sideline in manufacturing, but consider also that blockbuster films that do billions of dollars in business routinely show little or no profit for tax purposes ...more »

Vote yes on the Alexander Local Schools income-tax levy
Athens NEWSApril 27, 2017

This means it would not touch many forms of income, including Social Security and disability, dividends and interest, capital gains, pensions, workers comp and other forms of so-called non-earned income. The income tax, if passed, would be levied for a ...more »

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