Proposal Seeks Wider Tax Cuts for Industries
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A compromise draft of a major manufacturing tax cut has dropped virtually all restrictions on the definition of a manufacturer, cutting taxes instead for any company that produces products in the U. S., be they hamburgers or electricity.
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AS THE Legislature and Governor Deval Patrick gear up for what is likely to be a heated budget battle, much of the focus will be on closing corporate tax "loopholes." They hope to find middle ground through an appointed commission that will study the state's corporate tax code. As the debate continues, they should also take a look at funding ...
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The Bush administration yesterday raised serious objections about congressional efforts to approve a corporate tax-cut bill this week, warning that the Republican-backed legislation risked growing from a narrow effort to help manufacturers into a complex assortment of special-interest tax breaks.
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House tax writers will consider more than $1.5 billion in small business tax cuts next week in hopes of freeing minimum wage legislation currently stuck in an impasses between the House and Senate.
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Two want to abolish the income tax â and the IRS. Others say they'd renew the Bush tax cuts.
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Gov. Martin O'Malley yesterday proposed the first major overhaul of Maryland's income tax brackets in 40 years, offering what he called a "more progressive" system in which high-end earners would pay more but the majority of filers would get at least a modest tax cut.
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The insurance industry planned to propose a series of steps the companies say would let more individuals obtain coverage.
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It's not like a business group to oppose the largest possible tax breaks for its members. But when it comes to sweetening a minimum wage bill with small business tax relief, the U.S. Chamber of Commerce is backing a House proposal that is a fraction of the size of a tax package passed by the Senate.
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Liberal Democrats propose slashing basic rate of income tax in radical repositioning move.
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House Democrats looking to spare millions of middle-class families from the expensive bite of the alternative minimum tax are considering adding a surcharge of 4 percent or more to the tax bills of the nation's wealthiest households.
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The Tories outline options for cutting taxes  including one which will save up to Â£800 a year for top rate tax payers.
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WASHINGTON | The private equity industry's lobbying juggernaut may be able to crush proposed legislation that would increase the tax burden on firms that go public.
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Republican presidential front-runner  Rudolph Giuliani, an avid tax cut advocate, and leading  Democratic contenders are studying a Senate proposal to double  the tax rate on publicly-traded equity firms and hedge funds,  their campaigns said on Monday.
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The German government on Wednesday adopted draft proposals for a reform of corporate taxation that would lead to a big cut in company taxes from next year.
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Maryland Gov. Robert L. Ehrlich Jr. is considering a plan to reopen a large corporate tax loophole the General Assembly closed over his objections this year, according to state tax officials.
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The country's largest food suppliers, including Kraft Foods, H.J. Heinz and Dole Food, facing congressional food-safety proposals that could cost them millions of dollars a year, proposed yesterday to grant the government more oversight of the industry.
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Bloomberg - Jan. 9 (Bloomberg) -- Republican presidential contender Rudy Giuliani proposed a new tax plan that would cut capital gains and corporate tax rates while simplifying the tax form most Americans fill out.