All articles tagged with #tax
California is implementing a controversial plan to tax billionaires, aiming to address wealth inequality, but facing significant political and public debate over its implications and effectiveness.
Starting Tuesday, Chicago has implemented a new ground transportation tax surcharge of $1.50 for rideshare pickups and drop-offs in designated congestion zones, with shared rides incurring an additional 60 cents, raising costs for users and potentially impacting drivers and ridership.
The U.S. Treasury announced an agreement with over 145 countries to exempt U.S.-based companies from the OECD Pillar Two global tax plan, affirming U.S. tax sovereignty and protecting domestic incentives and innovation, marking a significant victory for U.S. economic interests.
The United States has secured exemptions from the new global minimum corporate tax rules, allowing it to avoid certain tax obligations under the international agreement aimed at setting a minimum corporate tax rate.
Starting January 1, Washington state lifts a 40-year exemption on a 10.3% tax on precious metals and coins, which could lead to higher prices and drive customers and businesses to neighboring states like Oregon and Idaho, potentially reducing state revenue and impacting local coin dealers.
Delaying charitable donations until 2026 can provide significant tax benefits, allowing single filers to save up to $1,000 and married couples up to $2,000 on their taxes, due to a new provision in the tax law that applies to those who take the standard deduction.
The article discusses President Trump's proposal for a share of Nvidia's profits from China, raising questions about whether it constitutes a tax or a fee, with mixed reactions from lawmakers and experts about its legality and economic implications.
KPMG's tax business is experiencing faster growth compared to its Big Four rivals, highlighting its competitive edge in the industry.
Swiss voters overwhelmingly rejected a proposed 50% tax on inheritances of over 50 million Swiss francs, with 78% voting against, reflecting resistance to wealth redistribution efforts despite concerns about climate change funding and rising living costs.
Labour leader Keir Starmer no longer rules out tax increases, contrasting with previous firm commitments, amid ongoing economic reviews and criticisms of the Conservative government's economic record.
Netflix's Q3 earnings were negatively impacted by a $619 million tax expense in Brazil related to the CIDE tax, which applies to outbound payments and was clarified by a Supreme Court ruling. This unexpected expense caused a drop in operating margin and stock price, but Netflix expects no material impact going forward.
Rhode Island has introduced a new 'Taylor Swift Tax' on luxury second homes valued over $1 million that are unoccupied more than half the year, significantly increasing property taxes for owners like Taylor Swift, whose estate's bill could rise to approximately $337,000 annually. The tax aims to fund local services and address housing issues, but critics argue it unfairly targets wealthy homeowners.
Senate Republicans revised their domestic policy megabill, removing a provision that would restrict undocumented immigrants' families from benefiting from Trump Accounts, and made several other changes, including adjustments to tax credits and investment provisions, as the bill moves toward final approval in the House with hopes of reaching President Trump's desk by July 4.
Senate Republicans plan to remove a controversial tax on solar and wind energy projects from their budget bill, including provisions to support projects that begin construction within a year of enactment and are completed by 2027, as part of a broader effort to modify climate and energy policies amid intra-party negotiations.
Canadian Prime Minister Mark Carney withdrew a proposed digital services tax after discussions with US President Trump, leading to a boost in US markets, including a rise in Dow futures and a record-high S&P 500, amid ongoing trade tensions and insults between the leaders.