High taxes better way to lower risk of alcohol-related death Nov 17, 2008
Specifically, the researchers found that the tax increase in 1983 resulted in a reduction of 29 percent drop in mortality every year or about 23 deaths per year after the new tax law was imposed and the tax increase in 2002 led to another 11 percent decrease or another 21 deaths per year. Alcohol consumption leads to serious injuries and accidents. (Food Consumer)
Ten jobs that pay $80,000 a year Nov 14, 2008
What they do: Attorneys can choose to concentrate on a variety of specializations, which include tax law, criminal law, civil law, bankruptcy, environmental law and more. Annual mean income: $88,235 Projected employment in 2016: 844,000 Increase between 2006 and 2016: 11 percent. (CNN -- Law)
* DPP hinders cross-strait pacts Nov 14, 2008
Taipei Times - archives. Enter your search terms. (Taipei Times, Taiwan -- World Business)
UBS executive indicted in tax evasion case Nov 13, 2008
Prosecutors said Weil referred to the business as "toxic waste" because it put UBS at odds with US tax law. UBS aggressively marketed its tax evasion business to wealthy people in the United States, making some 3,800 visits in 2004 alone to discuss accounts with clients. (Boston Globe)
Florida TaxWatch urges special session Nov 13, 2008
is urging Gov. Charlie Crist to call a special legislative session to clarify the state s corporate income tax law. The 2008 Florida Legislature passed a routine corporate income tax bill that conforms state law to federal law. (South Florida Business Journal, FL)
Exec with Swiss bank UBS indicted in tax probe Nov 13, 2008
Prosecutors said Weil referred to the business as toxic waste because it put UBS at odds with U.S. tax law. The IRS is aggressively pursuing anyone who helps wealthy individuals hide their assets offshore and dodge the tax system, said IRS Commissioner Doug Shulman. (San Diego Union-Tribune -- Business)
Firms that buy troubled lenders get big tax breaks Nov 11, 2008
Some tax lawyers yesterday questioned the legality of the notice, but DeSouza said it is authorized under the department's regulatory authority. When one bank acquires another, it is allowed under tax law to use some of the unrecognized losses of the bank it acquires to offset its own revenues for tax purposes ... In some cases, banks can qualify for refunds of taxes paid in previous years through writing off losses of the banks they acquire, said Robert Willens, a corporate tax lawyer in New... (Boston Globe)
Seattle region in the forefront of national debate over grocery bags Nov 11, 2008
The bag tax law had been passed by the City Council last summer, then went on hold after a petition destined it for the ballot, instead. As with any public debate, interest groups are lined up. (Puget Sound Business Journal, WA)
OK on Prop. 100 to ban new transfer taxes Nov 11, 2008
But advocates for the new tax law, including the Arizona Association of Realtors and the Arizona Chamber of Commerce and Industry, said they had been concerned government officials would implement a property-transfer tax similar to those in other states to help offset state and local budget shortfalls. "In the type of down economy that we have right now, all kinds of options are on the table to correct the (budget deficit) situation," said Ann Seiden, Arizona chamber vice president of... (AZCentral -- Business)
U.S. banks get quiet tax windfall Nov 10, 2008
With attention on bailout debate, Treasury made change to tax law ... But corporate tax lawyers quickly realized the enormous implications of the document: Administration officials had just given American banks a windfall of as much as $140 billion ... A tax law 'shock'The guidance issued from the caught even some of the closest followers of tax law off guard because it seemed to come out of the blue when Treasury's work seemed focused almost exclusively on the bailout. (MSNBC -- Race)
I Will Follow You Nov 10, 2008
Lawmakers were so concentrated on the bailout bill that it took them several days to realize that the administration decided simply to change 20-year-old tax policy, effectively giving American banks a "a windfall of as much as $140 billion," reports the WP. Lawmakers were angry, and many tax law experts insist that the Treasury Department had no authority to do this. But it seems many in Congress are choosing to keep this quiet for now out of fear that speaking up could further destabilize the... (Slate)
County board holding the line on aggregate tax Nov 8, 2008
Redwood County is holding the line on the Aggregate Resource Preservation Pro-perty Tax Law, which grants special and unique treatment to owners of land containing aggregate deposits. Metro county legislators, according to Redwood County Commissioner Brian Kletscher, pushed the re-cently passed law. (Redwood Falls Gazette, MN)
EuroBancshares, Inc. Reports Financial Results for the Third Quarter Ended September 30, 2008 Nov 7, 2008
Income Tax Expense Puerto Rico income tax law does not provide for the filing of a consolidated tax return; therefore, the income tax expense reflected in our consolidated income statement is the sum of our income tax expense and the income tax expenses of our individual subsidiaries. Our revenues are generally not subject to U.S. federal income tax. (PR Newswire)
No show in court Nov 6, 2008
Cayuga County District Attorney Jon Budelmann said that according to New York state tax law, non-American Indian residents are only allowed to purchase two cartons at a time without paying taxes, otherwise they could be charged with tax evasion. Previously, Breed's daughter, Victoria Breed, said her mother was unaware she had committed a crime and handed the cigarettes over to the troopers after they began to question her. (Auburn Citizen, NY)
Global Sources appoints Deputy CFO and announces June 2009 retirement for long-time CFO Eddie Heng Nov 6, 2008
(Logo: ) (Photo: ) Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "We are delighted to welcome David to our team. His deep understanding of corporate finance and China tax law is an invaluable asset to the company as we strengthen our leadership role in Asia's B2B trade. We thank Eddie for his 15 years of service and his contribution in helping the company maintain a strong balance sheet while we expanded our products and services across Asia. We wish him the best during his... (PR Newswire)
California's rich keep on giving Nov 6, 2008
Under U.S. tax law, individuals can write off up to 30% of their adjusted gross income for cash gifts and up to 20% for gifts of securities, he said. The question becomes: How much of my wealth am I going to pass on to my children, how much do I give to government and how much am I going to give to charity. (Yahoo News -- Philanthropy and Volunteerism)
The Candidates and Retirement: A Quick Overview Nov 5, 2008
The current 2008 estate tax law provides for families to pass up to $7 million onto heirs tax-free. Obama would like to make the current 2009 estate tax rates permanent. (Fox News)
Racine donates: Money follows the opinions and beliefs of area people (4) Nov 4, 2008
Tax law alterations could change that. If their prices are not competitive, then I m going to have to go overseas to have my products made, he said. (Racine Journal Times, WI)
Taxes: The War On 401(k)s Nov 4, 2008
What the presidential candidates say now is important, but it's Congress that ultimately shapes tax law. Voters should be listening not just to Barack Obama and John McCain, but also to Democrats who hold key positions in Congress particularly in the House, which has sole power under the Constitution to originate revenue bills. (Investors Business Daily)
Fact Check: The myths that wouldn't go away Nov 4, 2008
Translated into tax law, that could mean $15 more in taxes for an individual making $42,000, says FactCheck. org. (San Diego Union-Tribune)
Here today, gone next month Nov 2, 2008
Anderson initially applied for a make over to figure out if she should take advantage of coming tax law changes to convert her traditional IRAs to a Roth. Starting in 2010, Uncle Sam will do away with the annual income limits that currently prevent anyone with more than $100,000 of modified adjusted gross income from converting to a Roth. (Boston Globe)
IRS, Justice Target Undisclosed Assets In Swiss Accounts... Nov 2, 2008
In New York, attorney Bryan C. Skarlatos, who specializes in criminal tax law, said his firm has been approached by dozens of people who hold offshore accounts at UBS and other banks. They wanted to come clean with the IRS before getting caught up in a crackdown, he said. (The Drudge Report)
A same-sized chicken in same-sized pot Nov 2, 2008
The most basic part of our income tax law is the graduated scale by which the percentage a person pays increases as his income increases. You make more, you pay more. (Albany Times Union)
ABCNEWS: Obama's New Attack on Those Who Don't Want Higher Taxes: 'Selfishness'... Nov 1, 2008
Power, pop, and probings from ABC News Senior National Correspondent Jake Tapper. is ABC News' Senior National Correspondent based in the network's Washington bureau. (The Drudge Report)
Political activity and the church Nov 1, 2008
The Rev. Harrell can endorse a candidate and contribute to a campaign as an individual, but tax law prohibits the church from doing so. Restrictions on the church's involvement began in 1954, when Lyndon B. Johnson, then a senator from Texas, proposed an amendment to the tax exemption code for charitable organizations. (The Augusta Chronicle)
Office Depot reports 3Q loss Oct 30, 2008
The results include a charge of approximately $21 million, or 5 cents per share, that included store closings and renovations and a change in U.K. tax law that cost it $8 million. During the third quarter, Office Depot , which has two Wichita locations, opened six new stores, closed three, and relocated two stores, bringing the total store count to 1,275. (Wichita Business Journal, KS)
Office Depot takes 3Q loss on weak N.A. revenue Oct 30, 2008
Excluding store-closing costs and the effect of a change to British tax law, it lost a penny per share. Sales fell 7 percent to $3. (San Diego Union-Tribune -- Business)
Vitro Reports 3Q'08 Sales Up 8.9% and EBITDA Up 11.4% Oct 29, 2008
- Due to the new tax law, the INIF 8 provides the guidance for the deferred tax recording methodology given the two income tax regimes (ISR and IETU), depending on the tax regime the company will substantially operate according to its financial projections. -- INIF 9, Presentation of Comparative Financial Statements Prepared under NIF B-10. (PR Newswire)
Gun Sales Thriving Despite Tough Economy Oct 28, 2008
He said he expected Obama to use tax law to restrict gun ownership. "A bullet will be a luxury," he said. (CBS News)
Column: Longterm care insurance and your home Oct 28, 2008
He also holds a Masters in accounting and a Masters in tax law. He currently serves on the board of directors of the Massachusetts Chapter of the National Academy of Elder Law Attorneys. (Saugus Advertiser, MA)
GETTING AHEAD Oct 27, 2008
A. Bender, banking law, commercial litigation, insurance law, labor and employment law, product liability litigation and real estate law; Patrick G. Frank, commercial litigation and construction law; Martin S. King, banking law, bankruptcy and creditor-debtor rights law, commercial litigation and real estate law; Patrick D. Dougherty, corporate law, real estate law, tax law and trusts and estates; Carl Mendenhall, commercial litigation, education law, health care law, insurance law, medical... (Missoulian, MT)
Pump priming the domestic economy to survive the financial crisis Oct 27, 2008
In 2009, the new Indonesian income tax law will release around Rp 40 trillion for companies and individuals through tax reforms and liberalization. This total estimated reduction in the tax burden represents one form of fiscal stimulus that can be spent on further expansion or on consumer spending. (Jakarta Post, Indonesia -- Editorial)
Business Whirl: Smith styling hair at Elements Salon Oct 26, 2008
Enrolled agents are a group of independent, federally authorized tax practitioners who have demonstrated a high level of technical competence in tax law and are the only taxpayer representatives licensed to practice by the U.S. government. Banking group elects Lumpkin vice chair. (Athens Banner-Herald)
A proper concert hall still a dream in RI Oct 25, 2008
"The government have not built shopping malls. It's the private sector who didhe added. Artists, however, complain that the existing regulations, including ironically the newly-enacted tax law, do not encourage investors and philanthropists to invest their money in culture. Responding to the criticism, Arie said the Jakarta administration was ready to provide incentives for those who were serious about doing business in the art sector. "If there's any party who has a commitment in art and is... (Jakarta Post, Indonesia -- Features)
ClientWhys CPE Releases a New 4-Hour Tax CPE Course Covering the Economic Stabilization Legislation Oct 25, 2008
These tax law changes will affect just about everyone ... ClientWhys is geared to the hard new realities of ever-changing tax law, increased client demands and new competition from larger corporate financial service firms. (Yahoo News -- Press Releases)
Lawmakers push for value-added tax cut Oct 25, 2008
Lawmakers have suggested a rate cut in value-added tax (VAT) in an amendment to the VAT and luxury tax law in the hope of making the country's manufacturing sector more competitive in coping with the impact of the global economic downturn. The proposal was put forward during joint deliberation between the House of Representatives' commission XI for financial affairs and Finance Minister Sri Mulyani Indrawati on Thursday. (Jakarta Post, Indonesia -- Business)
League of Women Voters of Wellesley leaders to discuss upcoming ballot issues at Rotary meeting Oct 24, 2008
Ten years ago, she and her family moved to Wellesley from New York, where she had practiced corporate tax law and helped coordinate her firm s pro bono work; then served in senior government positions under NYC Comptroller Elizabeth Holtzman and, subsequently, Mayor Rudolph Juliani. Kemp, past president of the Wellesley and State Leagues, has been an active volunteer since moving to Wellesley from Virginia 24 years ago. (Wellesley Townsman, MA)
Letters: Oct. 23 Oct 24, 2008
It applies to the personal income tax, that is, to income received or gain realized by individuals and married couples, by estates of deceased persons, by certain trustees and other fiduciaries, by persons who are partners in and receive income from partnerships, by corporate trusts, and by persons who receive income as shareholders of S corporations as defined under federal tax law. It does not apply to the corporate or business income tax. (Wellesley Townsman, MA)
Loyola Latest Law School to Offer Dual Degree, With a Twist Oct 23, 2008
Among Loyola's courses are a tax law practicum and an honors tax policy colloquium. Programs with dual degrees have become more common in recent years at law schools. (Law.com)
Officials: Green Acres changes weren’t vetted Oct 23, 2008
A small change in Minnesota tax law has big ramifications for rural landowners in southeast Minnesota who suddenly may have to pay back-taxes on rural, undeveloped land that is not in agricultural production ... Winona County Assessor Steve Hacken said county officials will have to pay about 100,000 to rewrite computer programs to adapt to the new tax laws. (Winona Daily News, MN)
BGH GP Holdings, LLC Proposes to Acquire Public Minority Stake in Buckeye GP Holdings, L.P. Oct 22, 2008
The statements are based upon BGH GP Holdings' current expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements, including, among other things, whether the conditions to the tender offer will be satisfied, general economic factors, business and capital market conditions, general industry trends, changes in tax law requirements and government... (PR Newswire)
Developers use new laws to avoid foreclosure Oct 22, 2008
Changes to tax law and the U.S. Bankruptcy Code in the past decade enable developers to deal with their troubled properties selectively and prevent other properties they own from being affected. They can file for what is known as a single-asset real-estate bankruptcy. (AZCentral -- Business)
Some seeking US aid worked to avoid taxes Oct 21, 2008
Mark Herr, a spokesman for Merrill Lynch, said, "We believe we acted in good faith when we advised our clients and believe we acted appropriately under existing tax law." Lehman could not be reached for comment ... Although experts say the rescue package passed by Congress does little to stop firms from sidestepping taxes, many also believe the coming months will be filled with talk of tightening tax laws, as the Treasury runs low and the government racks up debt. (Boston Globe)
Churches can tout issues, not hopefuls Oct 19, 2008
But federal tax law separates candidate advocacy from issue advocacy, making the signs, banners and sermons on Proposition 102 legal ... As long as churches and other charitable organizations devote only an "insubstantial" amount of time over the course of a year to such advocacy, or lobbying, they are within the bounds of tax law, Lee said. (AZCentral -- News)
Joe the Plumber stars in TV debate Oct 17, 2008
Also, the Bush tax law doesn t expire until 2012. So, in FOUR years you can get your $41, IF Obama s tax law is passed. (Atlanta Journal-Constitution -- Opinion)
Businesses tuned into election Oct 17, 2008
He says the way the tax is structured, it doesn t matter whether a business made a profit or not and it is not uncommon for businesses that paid $1,000 under the old tax law last year to owe $10,000 this year. I have talked to a number of state legislators, including committee chairmen, who said that was absolutely the worst vote of their political careers and they have pledged to do everything they can to repeal it. (San Antonio Business Journal, TX)
Reassessment is government greed Oct 15, 2008
The tax law is a double-edged sword as it states if values change. It doesn t say up or down. (Orangeburg Times and Democrat, SC)
Loren Parks fights IRS claim for $75,000 in tax Oct 15, 2008
Under federal tax law, tax-exempt status is intended for charities, education and nonpolitical causes. The IRS says foundations can lose their tax-exempt status if "a substantial part of its activities" attempts to influence voters or legislation. (OregonLive, OR -- News)
Strike by powerful Iran traders widens Oct 14, 2008
In an effort to persuade the traders to end their strike, Ahmadinejad said last week that the new tax law would be suspended for two months. But the newspaper Sarmayeh reported yesterday that the traders had demanded that the law be permanently revoked. (Boston Globe)
Tax delay fails to quell Iranian protest Oct 13, 2008
In an effort to persuade the traders to end their strike, Ahmadinejad said last week that the new tax law would be suspended for two months. But the newspaper Sarmayeh reported on Sunday that the traders had demanded that the law be permanently revoked. (International Herald Tribune)
The cutting crew Oct 12, 2008
Navjeet K. BalCommissioner, Department of RevenueBackground: A lawyer by trade, she worked for the law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo for 18 years in public finance and state and federal tax law. She joined the Department of Revenue last year as senior deputy commissioner. (Boston Globe)
Iranian merchants rebel over first-ever sales tax Oct 12, 2008
Although the strike appeared to be a reaction to the sudden enforcement of the tax law, analysts said the driving issue was really the worsening of the economy. "These protests are not the result of the tax law," said Saeed Leylaz, a political analyst and an economist in Tehran. (International Herald Tribune)
Bailout bill could help Hyperion Oct 11, 2008
"Building or expanding a refinery to handle tar sands won't be made or broken by U.S. tax law," said Tyson Slocum of Public Citizen, a Washington-based public interest group. "It will all depend on market conditions and the permitting process.". (Sioux City Journal, IO)
Pastors Challenge Church Electioneering Ban Oct 10, 2008
In May 2008, ADF, a conservative legal alliance, announced Pulpit Freedom Sunday to encourage pastors to intentionally violate federal tax law by endorsing a political candidate from the pulpit ... The Ohio pastors led a group of 55 religious leaders who filed a complaint with the IRS asking the agency to force ADF to stop encouraging pastors to violate federal tax law on Pulpit Freedom Sunday ... An on the matter noted that "while the necessity of this tax law prohibition is often up for... (OMB Watch)
What's ahead Oct 8, 2008
The ballot measures will affect criminal justice, education, tax law, and our democracy. The format of the will ask the questions: Is this measure a workable solution to a community problem. (Coos Bay-North Bend The World, OR)
Report: Florida among top tax-friendly states for business Oct 8, 2008
"Every tax law will, in some way, change a state's competitive position relative to its immediate neighbors, its geographic region and even globally. Entrepreneurial states will seize opportunities to lure businesses out of high-tax states.". Among other findings. (Jacksonville Business Journal, FL)
Palin campaign: 'Heels are on, gloves are off' Oct 7, 2008
Tax lawyers are feasting on Sarah Palin's tax returns ... According to tax law profs Jack Bogdanski of Lewis & Clark and Bryan Camp of Texas Tech, they also show that she owes tens of thousands of dollars in additional taxes, penalties and interest. (Anchorage Daily News)
Oil and gas industry battling severance tax amendment Oct 7, 2008
That s because the tax bills of oil and gas companies would rise, and they wouldn t be able to write them off, as they do now under the current severance tax law. If you take away the ability for them to apply their local property tax increase to their severance taxes, you potentially quite possibly are pitting the needs of the industry against the needs of the county, Brown said. (Denver Business Journal, CO)
Pulpit Politics Oct 7, 2008
" The Rev. Victoria Guest from The First Congregational Church of Natick, said she wants her congregation to be aware of the issues surrounding the election and be politically active, but she would not consider publicly supporting a candidate. "It simply does not respect the fact that our churches are made up of people from many political backgrounds," she said. The protest was spearheaded by the Alliance Defense Fund, a conservative legal organization, which is an "alliance defending the right... (Framingham TAB, MA)
Vote better food, softer mattresses Oct 7, 2008
Wells Fargo renewed its pursuit of Wachovia after a change in federal tax law that allows the company to use Wachovia s losses to shelter its own profits from taxation. And on Friday, Wells Fargo and Wachovia announced a merger agreement. (Atlanta Journal-Constitution -- Opinion)
Our View: Sales taxes can no longer be ignored Oct 6, 2008
They labeled the UCE motorcade participants racists for even staging their protests, and said the state has absolutely no right to enforce a sales tax law against them because they are a sovereign nation. While it's true that the Cayugas are a federally recognized tribe, two decades worth of litigation that ended up in the U.S. Supreme Court made it perfectly clear that the Cayugas' land, which they have purchased in legal transactions in accordance with state law, is not sovereign. (Auburn Citizen, NY)
State, insurers battle over $112M Oct 6, 2008
They can t make up tax law. In addition to the need to fill a budget gap, Medows said the expanded fees also comply with the federal law overseeing the 15 states that use quality assessment fees. (Atlanta Journal-Constitution)
California's rich keep on giving Oct 6, 2008
Under U.S. tax law, individuals can write off up to 30% of their adjusted gross income for cash gifts and up to 20% for gifts of securities, he said. The question becomes: How much of my wealth am I going to pass on to my children, how much do I give to government and how much am I going to give to charity. (Yahoo News -- Philanthropy and Volunteerism)
Pastor returned to First Amendment debate Oct 6, 2008
Many other local pastors feel that even if endorsements like Hice's didn't break tax law, bringing politics into the sanctuary is harmful to the church. "It's important for us to weigh in on public policies and their implications, but not on particular candidates," said Beth Long, rector of the St. Gregory the Great Episcopal Church in Athens. (Athens Banner-Herald)
Letters for Sunday and Monday, October 5-6, 2008 Oct 6, 2008
Does the new tax law give them any tax breaks. Lewis is an expert and should be allowed a special meeting with our legislators to express the views of the people. (Lihue Garden Island, HA)
