Vice President Kamala Harris wants to raise taxes on corporations. A spokesperson for the Harris-Walz campaign confirmed that the Democratic nominee for president is proposing a 28% corporate tax rate. The rate was cut from 35% to 21% under the Trump administration. “As President, Kamala Harris will focus on creating an opportunity economy for the
Employee stock ownership plans offer a tax-efficient estate planning opportunity for business owners to pass the wealth-generating entity to their people who own shares in it. Typically, an ESOP transaction is a significant liquidity event for the current primary business owners. They need to create an effective succession strategy in alignment with their wishes. Planning
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Waukesha County, and its governmental body, has long avoided something all but three Wisconsin counties have approved: a sales tax. But a budget crunch has opened the possibility that the county may step away from its nearly exclusive status in that regard, or else enact other revenue-boosting measures to maintain services that no one wants
In a recent update, Peru’s legislative decree No. 1623 has established new filing deadlines and obligations for non-domiciled taxpayers regarding the General Sales Tax (IGV). These regulations, set to come into effect from October 1, 2024, will impact non-domiciled entities engaged in providing digital services or intangible goods to Peruvian consumers. Key Deadlines and
Pune-based software professional Sanjay Saxena earns well, but also pays a very high tax. This is because his salary structure is not taxfriendly, he doesn’t avail of all the deductions available to him, and invests in tax-inefficient fixed deposits. The leave travel allowance (LTA) is exempt from tax if claimed twice in a block of
Ending special tax treatment afforded to superrich can cover estimated climate finance needs Following the example of Spain’s “featherlight” wealth tax on the 0.5% richest households would see countries raise $2.1 trillion a year globally Evidence shows tax reforms targeting extreme wealth have not resulted in the superrich relocating to other countries On average, just
According to an article in Stateline, measures aimed at reducing property taxes will be on the ballot in at least eight states this November: Arizona, Colorado, Florida, Georgia, New Mexico, North Dakota, Virginia, and Wyoming. The move comes as home market values, which have increased about 50 percent since August 2019, are starting to impact
The IRS announced this week that a special Voluntary Disclosure Program will reopen, allowing businesses that claimed the Employee Retention Credit (ERC) to withdraw their claims and repay part of the credit received. The IRS announcement included a carrot and a stick. The carrot: a promise of closure for businesses and business owners who claimed
After years of sparring over property tax rates, leading Colorado Democrats and conservative activists finally see an offramp from the conflict. To get there, it will only have taken two special sessions, annual short-term bills at the Capitol, multiple threats of ballot measures and a failed attempt to override the Taxpayer’s Bill of Rights. The