Tax Indemnity

Latest News for: Tax indemnity

Womack's 'no' vote vexes military widow

Arkansas Online 23 Jun 2018

Before urging his colleagues to vote "no," Womack also portrayed the amendment as a threat to recent Republican tax cuts. The tax cut act, signed into law by President Donald Trump in December, included tax cuts totaling $2.3 trillion over the next decade, according to the Congressional Budget Office ... The amendment called for the repeal of the "Survivor Benefit Plan/Dependency and Indemnity Compensation Offset."...

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Raising cigarette tax goes on task force lists

Arkansas Online 23 Jun 2018

Some members of the Legislature's tax-overhaul task force want to explore the possibility of raising the state's excise tax on cigarettes, including an increase of 15 cents a pack, to raise more revenue to compensate for cutting income taxes. The current tax on cigarettes is $1.15 a pack ... The 16-member Tax Reform and Relief Legislative Task Force has been reviewing various aspects of the state tax code since May 2017....

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How The Latest Mauritius Budget Changes Taxation For FPIs Into India

Yahoo Daily News 23 Jun 2018

Favorable India-Mauritius Tax Treaty. The erstwhile India-Mauritius tax treaty (prior to April 1, 2017) provided a complete exemption from Indian tax for capital gains earned by Mauritius residents from India ... Further, interest income from India to a Mauritius resident is subject to withholding tax of only 7.5 percent, which is the most favorable as compared to other popular jurisdictions....

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Tribune editorial: Court decision shows sales tax needs an overhaul

The Salt Lake Tribune 23 Jun 2018

Supreme Court decision regarding sales tax collection on internet purchases sure feels like government finally catching up with the reality of modern commerce ... The decision erases the existing law wherein only stores with actual physical locations in a state had to collect sales tax on internet purchases. If the seller had no physical presence in a state, the thinking went, it shouldn’t be obligated to collect sales taxes in the state....

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Brace your pocketbooks: Higher taxes on some services and merchandise coming July 1

The Daily Independent - Ashland 23 Jun 2018

Provisions of Kentucky’s Tax Reform legislation (HB 366 enacted by the 2018 General Assembly) go into effect July 1 and, among other things, will lighten Pulaski Countians' pocketbooks by extending Kentucky’s 6 percent sales and use tax to about 15 services, and adding another 50 cents tax on a pack of cigarettes ... Decreases the amount of pension income excluded from income tax from $41,110 to $31,110;....

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State sales tax to hit variety of services July 1

The Paducah Sun 23 Jun 2018

their membership costs are subject to the state's 6 percent sales tax starting July 1. It marks the first time services offered by nonprofits in Kentucky will be taxed, Martarano said. "This opens the door to possibly more taxes on us in the future," he warned. YMCA members aren't the only Kentuckians who will face higher taxes. Labor on your car repairs will include the 6 percent sales tax ... "I don't know who is happy with the new tax....

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Charitable giving after the 2017 Tax Act: a contrarian’s point of view

Fort Worth Business Press 23 Jun 2018

The 2017 Tax Cuts and Jobs Act (the “2017 Tax Act”) was signed into law on Dec ... The expected reduced taxes for the masses would come from a combination of reduced income tax rates and expanded tax brackets ... Increasing the amount that may be deducted for donations to public charities from 50 to 60 percent of adjusted gross income, provided that all donations for that tax year are made in cash (check);....

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Online sellers consider how to comply with sales tax ruling

Rapid City Journal 23 Jun 2018

NEW YORK (AP) — While a Supreme Court ruling on sales taxes will create more obligations and expenses for many small online retailers, owners are already thinking about how they'll comply. The decision allows states to require out-of-state businesses to collect sales tax from customers in other states — for example, a retailer in Utah who sells goods to a customer in New York would have to calculate and collect the New York sales tax....

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Governor: Online tax revenue must go to property tax relief

Kearney Hub 23 Jun 2018

Supreme Court's decision to let states collect sales tax from online purchases could lead to Nebraska putting the money toward property tax relief. The high court ruled Thursday that states can force companies operating online to collect taxes, reversing decades-old decisions that had stymied efforts to collect sales taxes on many online transactions....

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New sales tax to be charged beginning July 1

Commonwealth Journal 23 Jun 2018

GLASGOW – A 6 percent sales tax will soon be charged for a variety of services rendered that have never before been taxed in Kentucky. Some of the services that will soon be taxed include landscaping, janitorial and small veterinary and pet care. The addition of the 6 percent sales tax is being mandated by state law ... “I hate the sales tax ... “We do have taxable things, but they are going to tax everything.”....

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Tax ruling could boost local business, chamber president says

The Herald Palladium 23 Jun 2018

Supreme Court has ruled that states can collect sales taxes on online retailers who don’t have a physical footprint in their location, retailers and consumers will wait to see what impact the ruling has. Cornerstone Chamber of Commerce President Chris Heuwgel believes that the ruling will level the playing field with brick-and-mortar shops, which collect a 6 percent sales tax in Michigan, and out-of-state online retailers that do not....

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The Latest: Tax deal reached, passed by Louisiana House

Waco Tribune-Herald 23 Jun 2018

(AP) — The Latest on Louisiana's special session on taxes (all times local). ... House passage of a tax deal on Friday has paved the way for that possibility. The House agreed to renew 0.45 percent of a 1 percent sales tax that expires July 1, to stave off deep budget cuts ... Alario says senators might rewrite the budget bill to spend the $463 million the tax would raise ... Lawmakers in the Louisiana House agreed to a sales tax renewal....

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