Tag

Tax

All articles tagged with #tax

policy15 days ago•1 min saved

Treasury and IRS issue interim guidance on foreign-entity rules for clean energy tax credits

Treasury and the IRS issued Notice 2026-15 to guide when electricity-producing facilities, energy storage technologies, or 45X components receive material assistance from a prohibited foreign entity, which could render them ineligible for clean energy credits under Sections 45Y, 48E, and 45X. The notice outlines interim safe harbors, how to calculate the material assistance cost ratio, and notes that forthcoming regulations and additional guidance will define PFE and update safe harbors. Taxpayers may rely on these rules for projects begun after 12/31/2025 through 60 days after the forthcoming safe harbor tables, and for 45X components sold in taxable years after 7/4/2025 until those tables are published. Comments on definitional, anti-circumvention, and related issues are due within 45 days.

via IRS (.gov)|

#energy #foreign-entity #irs

politics25 days ago•5 min saved

Washington lawmakers push 9.9% tax on $1M+ earners to fund services

Democrats in Olympia unveiled Senate Bill 6346 proposing a 9.9% tax on household incomes above $1 million to raise about $3.7 billion annually for public education, early learning, childcare, healthcare and other services. The plan would also eliminate the sales tax on grooming products, create a small-business gross-revenue threshold exemption, expand the Working Families Tax Credit and direct 5% of revenue to counties for public safety. Gov. Jay Inslee’s office notes the proposal doesn’t go far enough for Washingtonians, while Republicans call it unconstitutional and warn of potential court challenges or voter referendum.

via king5.com|

#education-funding #income-tax #millionaires-tax

business1 month ago•12 min saved

US tax tweaks could upend SWFs' US investments

US IRS proposals to tighten Section 892 could strip tax-exempt status from sovereign wealth funds and some public pensions that engage in US investments, by redefining when debt purchases and other activities count as 'commercial activity' and by widening 'effective control' tests. The changes would affect private credit, private equity co-investments and real assets, potentially costing SWFs billions in avoided taxes and prompting restructurings or shifts to more passive strategies; final rules are not settled yet, with comments due Feb 13.

via Financial Times|

#blockers #business #privatecredit

world1 month ago•1 min saved

California's Billionaire Tax Sparks Divisions and High-Profile Moves

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.

via Financial Times|

#billionaires #california #policy

local1 month ago•2 min saved

Chicago Rideshare Fares Increase with New Congestion Zone Tax

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.

via ABC7 Chicago|

#chicago #congestion-zone #cost-increase

business1 month ago•1 min saved

Global Tax Deal Finalized, Exempting U.S. Companies from Minimum Tax

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.

via U.S. Department of the Treasury (.gov)|

#business #global-minimum-tax #oecd

world1 month ago•0 min saved

US Secures Exemptions in Global Minimum Tax Agreement

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.

via Financial Times|

#corporate #exemptions #global-minimum-tax

business1 month ago•2 min saved

Washington Businesses Face New Precious Metals Tax

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.

via KOMO|

#business #gold #precious-metals

business2 months ago•1 min saved

Maximize Your Holiday Donations to Save Up to $2,000 on Taxes

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.

via NJ.com|

#2026 #business #charitable-donations

politics2 months ago•1 min saved

US Investigates Nvidia AI Chip Sales to China Amid Policy Concerns

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.

via Politico|

#china #nvidia #politics

business2 months ago•1 min saved

KPMG Achieves Strong Growth with 5.1% Revenue Increase in 2025

KPMG's tax business is experiencing faster growth compared to its Big Four rivals, highlighting its competitive edge in the industry.

via Financial Times|

#big-four #business #business-strategy

world3 months ago•1 min saved

Swiss voters reject multiple proposed taxes and mandatory service measures

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.

via Reuters|

#inheritance #switzerland #tax

politics4 months ago•1 min saved

Starmer Faces Questions on Tax and Migrant Offender at PMQs

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.

via BBC|

#budget #economy #labour

business4 months ago•2 min saved

Netflix Shares Drop Amid $600M Brazilian Tax Dispute

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.

via Deadline|

#brazil #business #cide

world6 months ago•2 min saved

Wealthy Homeowners Face New Tax Hikes Amid Rising Backlash

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.

via yahoo.com|

#luxury-real-estate #rhode-island #second-home