All articles tagged with #tax exemption
Originally Published 24 days ago — by FOX 7 Austin
Starting January 1, Texas will implement over 30 new laws including mandates for sheriffs to cooperate with ICE, age verification for app downloads, tax exemptions for inventory, faster eviction processes for squatters, and comprehensive AI regulation, reflecting significant policy changes from the recent legislative sessions.
Originally Published 4 months ago — by Euronews.com
Several European countries are halting postal services to the US following the US's decision to scrap a tax exemption on low-value imports, impacting transatlantic e-commerce and prompting immediate suspension of shipments by major postal operators.
Originally Published 5 months ago — by Barron's
Former President Trump has ended the global 'de minimis' tax exemption, which could have significant implications for retail stocks by potentially increasing tax burdens on cross-border e-commerce and imports.
Originally Published 5 months ago — by CNN
President Trump has suggested considering the elimination of capital gains taxes on home sales, which could benefit homeowners with significant gains, especially long-term owners in high-value markets. Currently, exemptions allow up to $250,000 (single) or $500,000 (married) in gains tax-free, but inflation and rising home prices mean more homeowners may face taxes. If enacted, this change could favor wealthier, long-term homeowners, particularly in expensive markets, and potentially influence housing market dynamics.
Originally Published 1 year ago — by The New York Times
The Supreme Court is set to hear a case involving a Catholic charity's request for a tax exemption, which could have significant implications for religious organizations seeking similar exemptions.
Originally Published 2 years ago — by Yahoo Finance
When selling your primary home and making a $750,000 profit, you may owe capital gains taxes depending on various factors. The IRS taxes home sales as gains or losses on investments, with capital gains rates applying if you owned the property for one year or more. However, there is a capital gains exemption for primary residences that allows married couples to exclude up to $500,000 in profits from taxes, and individuals can exclude up to $250,000. Calculating your capital gains taxes involves considering factors such as marital status, total household income, duration of ownership, and adjusted cost basis. It is advisable to consult a financial advisor for assistance in managing your tax liability.
Originally Published 2 years ago — by CNN
California Senate hopeful Rep. Adam Schiff, who is running in a competitive primary, has claimed his primary residence as a home he owns in Maryland, while also taking a homeowner's tax exemption on a smaller condo in California. Tax records and other evidence suggest that Schiff spends most of his time in Maryland, raising questions about his residency claims. While he is likely not in legal jeopardy, the dual residency could complicate his Senate campaign and present a political problem. Similar residency concerns have plagued other politicians running for Senate positions in the past.
Originally Published 2 years ago — by WESH 2 Orlando
Florida's back-to-school sales tax holiday has begun, allowing shoppers to purchase qualifying items without paying sales tax until August 6. The tax exemption applies to a wide range of items, including clothing, shoes, school supplies, computers, printers, headphones, and monitors. This year, there will be two school supply sales tax holidays, with the second one taking place in January.
Originally Published 2 years ago — by Cointelegraph
Token issuers in Japan are now exempt from paying corporate taxes on unrealized cryptocurrency gains, according to a law revision by the National Tax Agency. The tax exemption goes into effect nearly six months after the Japanese government approved a proposal eliminating the requirement for crypto firms to pay taxes on paper gains on tokens they issued and held. The ruling Liberal Democratic Party expects to make it “easier for various companies to do business that involves issuing tokens.”
Originally Published 2 years ago — by Benzinga
China has extended the purchase tax exemption for new energy vehicles (NEVs), including pure electric energy vehicles, fuel-cell vehicles, and plug-in hybrids, until the end of 2025. For NEVs purchased between Jan. 1, 2026, and Dec. 31, 2027, the vehicle purchase tax will be levied at half the normal rate. The extension of the purchase tax exemption comes at a time when the economy is experiencing a soft patch, and the NEV industry faces intense competition due to the entry of numerous players. Cheaper models from domestic companies are expected to benefit more from the cap on the purchase tax exemption compared to premium vehicles from foreign companies.