John E. Anderson of the University of Nebraska, Lincoln and the Lincoln Institute of Land Policy discusses the volatility and resilience of property, sales and income tax revenues, focusing on how they relate to changes in GDP.
Last year’s tax changes were not favorable to Minnesota businesses. Instead of running from these changes, learn how you can embrace them and minimize the impact they will have on your own business.
Joel Germershausen, cpa & manager, Baker Tilly Virchow Krause, LLP
Nick Marshall, manager, Baker Tilly Virchow Krause, LLP
Presentation to the Oregon Legislature on the latest economic and revenue outlook for the State of Oregon. Overview of the U.S. and Oregon economic landscape. Tax revenue tracking and outlook for personal income taxes, corporate income taxes, Lottery sales and recreational marijuana sales.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is a part of the September 2018 forecast (released August 29th).
This document is an economic and revenue outlook report from the Oregon Office of Economic Analysis. It summarizes Oregon's economic performance, finding that job growth has outpaced the US in recent years and unemployment has fallen. It also analyzes revenue sources like income and corporate taxes, finding personal income tax collections are increasing while corporate collections remain uncertain. Overall, near-term growth is expected to remain strong but moderate in the long-run due to demographic factors.
Improving the measurement of UK income inequality using tax dataRichard Tonkin
Joint ONS/DWP research on developing adjustments using administrative data which improve the measurement of top incomes. Presentation given at 2019 Royal Statistical Society Conference.
The document summarizes tax updates and proposals from the District of Columbia's Tax Revision Commission and Mayor Gray's FY2015 budget. Key points include proposed changes to business taxes like franchise rates and brackets, individual income tax brackets, eliminating some QHTC benefits, decreasing the sales tax rate, and increasing property tax relief benefits and eligibility.
The document summarizes key points from the 2015 Pork Management Conference, including an income and estate tax update, the impact of the Tax Increase Prevention Act of 2014 on businesses and individuals, and President Obama's proposed 2016 budget. It also discusses the focus on tax reform and notable pork industry tax items like capital gains treatment of breeding stock and cash basis accounting.
Last year’s tax changes were not favorable to Minnesota businesses. Instead of running from these changes, learn how you can embrace them and minimize the impact they will have on your own business.
Joel Germershausen, cpa & manager, Baker Tilly Virchow Krause, LLP
Nick Marshall, manager, Baker Tilly Virchow Krause, LLP
Presentation to the Oregon Legislature on the latest economic and revenue outlook for the State of Oregon. Overview of the U.S. and Oregon economic landscape. Tax revenue tracking and outlook for personal income taxes, corporate income taxes, Lottery sales and recreational marijuana sales.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is a part of the September 2018 forecast (released August 29th).
This document is an economic and revenue outlook report from the Oregon Office of Economic Analysis. It summarizes Oregon's economic performance, finding that job growth has outpaced the US in recent years and unemployment has fallen. It also analyzes revenue sources like income and corporate taxes, finding personal income tax collections are increasing while corporate collections remain uncertain. Overall, near-term growth is expected to remain strong but moderate in the long-run due to demographic factors.
Improving the measurement of UK income inequality using tax dataRichard Tonkin
Joint ONS/DWP research on developing adjustments using administrative data which improve the measurement of top incomes. Presentation given at 2019 Royal Statistical Society Conference.
The document summarizes tax updates and proposals from the District of Columbia's Tax Revision Commission and Mayor Gray's FY2015 budget. Key points include proposed changes to business taxes like franchise rates and brackets, individual income tax brackets, eliminating some QHTC benefits, decreasing the sales tax rate, and increasing property tax relief benefits and eligibility.
The document summarizes key points from the 2015 Pork Management Conference, including an income and estate tax update, the impact of the Tax Increase Prevention Act of 2014 on businesses and individuals, and President Obama's proposed 2016 budget. It also discusses the focus on tax reform and notable pork industry tax items like capital gains treatment of breeding stock and cash basis accounting.
A brief overview of the public sector in rural Oregon. Presentation given to the Oregon House Committee on Economic Development and Trade on May 31st, 2017.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is a part of the September 2019 forecast (released August 28th).
Utah has a relatively low state and local tax burden compared to other states. The state relies on three major taxes - sales and use tax, individual income tax, and property tax - which each account for about one-third of total state and local tax revenues. While the sales tax rate has increased over time, the sales tax base has declined as a percentage of personal income and GDP due to economic and demographic changes. Utah's individual income tax uses a single-rate structure with a taxpayer credit to make it progressive. The state's corporate franchise and income tax generates a small and volatile source of revenue.
VivekBajaj Advocate Ludhiana Tax structure unchanged by vatRecruitment News
Tags: Vivek Bajaj Advocate Ludhiana, VivekBajaj Advocate Ludhiana, VivekBajajAdvocatein India.
THE introduction of the Value Added Tax in Barbados in 1997 did not materially alter this country’s tax structure, given that the proportions of direct and indirect taxes to total revenue
1) Property taxes are calculated based on appraised home values and tax rates set by various taxing entities like counties, cities, and school districts.
2) When home values rise due to increases in the housing market, it causes tax levies to rise even if tax rates remain the same, as higher home values result in more taxes collected.
3) For example, a projected $9.2 billion increase in Collin County home values for 2016 would result in almost $200 million in additional taxes collected even without any changes to tax rates by the county, city, and school district.
This document discusses black money and the parallel economy in India. It defines black money and explains how it is generated through things like the desire to increase purchasing power, illegal transactions, corruption, and laws. It notes that parallel economies make up 8-50% of GDP in different countries. In India, the parallel economy grew from 9.5% of GDP in 1967-68 to 49% in 1978-79. The document discusses various tax amnesty programs in India that provided immunity from prosecution in return for disclosed income and revenue collected. It argues that regulations could help by incentivizing legal transactions, using value-added tax, and increasing vigilance. However, the best approach would be a mix of temporary and permanent legal
This document is an economic and revenue forecast from the Oregon Office of Economic Analysis from September 2020. It summarizes that while the economy is in bad shape due to the pandemic, tax collections have not yet shown the full impacts. General fund revenues are up significantly compared to June forecasts but remain lower than pre-COVID levels. The underlying economic outlook has improved slightly, though permanent economic damage remains a key risk to the forecast. Significant reserves remain to help withstand the downturn.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is a part of the June 2018 forecast (released May 23rd).
The document summarizes the key elements and economic impacts of the Tax Cuts and Jobs Act. It finds that the tax cuts will add $1-1.5 trillion to the national debt over 10 years, benefit high-income groups the most, and potentially increase the number of uninsured by 13 million people. While proponents claim it will boost economic growth and job creation, most experts estimate only a small, temporary GDP increase with limited benefits that fade over time. There are also risks that higher debt could crowd out private investment and increase the chances of a fiscal crisis.
The document is a December 2021 economic and revenue forecast from the Oregon Office of Economic Analysis. It summarizes that revenues are booming due to strong labor income and inflation allowing businesses to pass along costs. However, there is a risk of persistent high inflation leading to a boom/bust cycle as interest rates rise. Urban areas are currently lagging rural growth but factors favor future urban growth. Revenues were revised upwards with personal and corporate taxes setting records. Sizable budget reserves remain though a potential economic downturn poses budget risks.
The document summarizes recent tax legislation focused on small businesses, including the Small Business Jobs Act of 2010 and the 2010 Tax Relief Act. The Small Business Jobs Act provided tax incentives like increased Section 179 expensing and bonus depreciation. The 2010 Tax Relief Act extended many existing tax breaks for two years and provided additional stimulus measures like 100% bonus depreciation on new property. It also granted significant estate tax relief with a $5 million exemption and 35% top rate through 2012.
This document discusses different levels of government spending and taxation in the United States. It begins by defining Gross Domestic Product (GDP) as the total value of goods and services produced in the country, and how 34% of all government spending goes towards GDP. It also defines Gross State Product (GSP) and Gross Regional Product (GRP) as measures of individual state and regional economies. The document then examines various types of taxes used by national, state, and local governments, including income, sales, property, corporate and excise taxes. It concludes by outlining five principles for evaluating different tax systems: equity, yield, elasticity, political accountability, and acceptability.
This document summarizes estimates by the Tax Policy Center of the tax plans proposed by four Republican presidential candidates - Romney, Santorum, Gingrich, and Obama. It finds that Romney's plan would lose the most revenue ($902.5 billion) compared to current policy, while Obama's plan would increase revenue by $168.4 billion. All the Republican plans would cut taxes for higher income groups and raise taxes on the lowest income groups compared to current policy. The estimates do not account for any behavioral responses to the proposed tax changes.
The Oregon Office of Economic Analysis forecasts the state The economy and General Fund and Lottery Fund revenues. This slide presentation is part of the June 2020 forecast, released May 20th.
This document summarizes the March 2022 economic and revenue forecast from the Oregon Office of Economic Analysis. It finds that Oregon's economy continues to experience strong inflation-driven growth, with rising wages and revenues. However, housing supply remains constrained, with Oregon underbuilding over 100,000 homes in recent decades. This shortage contributes to affordability issues and could limit future population and revenue growth. Overall, the revenue outlook has strengthened further, with personal income, corporate, and other tax revenues all projected to grow strongly through 2027.
Where's the Money? State and Local Government Finance Forecast - Outlook 2015Jon Yoffie
"IT’S NOT DOING MORE WITH LESS, IT’S DOING MORE WITH THE SAME." Governing Publisher Mark Funkhouser coined this one in the "Where’s the Money?" briefing on state and local government revenues and budgets. State and local government revenues are up 3.3% overall, but spending next year will be a bit below the pre-Recession peak, and long-term growth rates are going to be lower than projected long-term liabilities (pensions, government retiree healthcare, Medicaid, etc.), even as federal-to-state and state-to-local funds decline. So while we’ve moved beyond doing more with less, the bottom line is still (and for the foreseeable future will be) the bottom line. Finding ways to cut costs, increase efficiencies and fund programs with creative revenue-generating or private-sector partnership solutions will be paramount.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is part of the December 2019 forecast, released November 20th.
This document contains the Cenvat Credit Rules, 2004 as amended by various notifications. It provides definitions for key terms related to cenvat credit such as input, input service, capital goods, exempted goods, manufacturer, and job work. The rules establish the framework for availing and utilizing cenvat credit under the excise and service tax laws.
The Economic Survey 2017-18 discusses the state of the Indian economy. It projects GDP growth of 6.75% for 2017-18 and estimates 7-7.5% growth for 2018-19. Some key highlights include the successful launch of GST, efforts to resolve non-performing assets through the Insolvency and Bankruptcy Code, and increased tax revenues through widening the tax base. The survey also notes challenges such as globalization backlash, stalling structural transformation, human capital regression, and climate change impacts on agriculture. Overall, it recommends completing ongoing reforms through cooperative federalism as the path forward.
La Unión Europea se originó en 1995 con el objetivo de aproximar a los países europeos en el plano económico. Sus principales objetivos son promover la unidad de Europa, mejorar las condiciones de vida de sus ciudadanos y fomentar el desarrollo económico. Sus principales instituciones son la Comisión Europea, que ejerce el poder ejecutivo; el Consejo de Ministros, que congrega a los ministros de los diferentes países; y el Parlamento Europeo, que garantiza la participación de los ciudadanos. El euro fue introducido
An former officer of Scotland Yard's anti-terrorism squad has started an initiative in Kolkata to employ rag-pickers to process municipal solid waste into compost in order to provide economic opportunities and uplift their living conditions. The project aims to employ 60 rag-pickers initially to collect, segregate and convert organic waste into nutrient-rich compost, which has shown increased crop yields in trials, to be sold to farmers. The project coordinator hopes this will help reduce waste going to landfills while providing a sustainable livelihood for rag-pickers.
A brief overview of the public sector in rural Oregon. Presentation given to the Oregon House Committee on Economic Development and Trade on May 31st, 2017.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is a part of the September 2019 forecast (released August 28th).
Utah has a relatively low state and local tax burden compared to other states. The state relies on three major taxes - sales and use tax, individual income tax, and property tax - which each account for about one-third of total state and local tax revenues. While the sales tax rate has increased over time, the sales tax base has declined as a percentage of personal income and GDP due to economic and demographic changes. Utah's individual income tax uses a single-rate structure with a taxpayer credit to make it progressive. The state's corporate franchise and income tax generates a small and volatile source of revenue.
VivekBajaj Advocate Ludhiana Tax structure unchanged by vatRecruitment News
Tags: Vivek Bajaj Advocate Ludhiana, VivekBajaj Advocate Ludhiana, VivekBajajAdvocatein India.
THE introduction of the Value Added Tax in Barbados in 1997 did not materially alter this country’s tax structure, given that the proportions of direct and indirect taxes to total revenue
1) Property taxes are calculated based on appraised home values and tax rates set by various taxing entities like counties, cities, and school districts.
2) When home values rise due to increases in the housing market, it causes tax levies to rise even if tax rates remain the same, as higher home values result in more taxes collected.
3) For example, a projected $9.2 billion increase in Collin County home values for 2016 would result in almost $200 million in additional taxes collected even without any changes to tax rates by the county, city, and school district.
This document discusses black money and the parallel economy in India. It defines black money and explains how it is generated through things like the desire to increase purchasing power, illegal transactions, corruption, and laws. It notes that parallel economies make up 8-50% of GDP in different countries. In India, the parallel economy grew from 9.5% of GDP in 1967-68 to 49% in 1978-79. The document discusses various tax amnesty programs in India that provided immunity from prosecution in return for disclosed income and revenue collected. It argues that regulations could help by incentivizing legal transactions, using value-added tax, and increasing vigilance. However, the best approach would be a mix of temporary and permanent legal
This document is an economic and revenue forecast from the Oregon Office of Economic Analysis from September 2020. It summarizes that while the economy is in bad shape due to the pandemic, tax collections have not yet shown the full impacts. General fund revenues are up significantly compared to June forecasts but remain lower than pre-COVID levels. The underlying economic outlook has improved slightly, though permanent economic damage remains a key risk to the forecast. Significant reserves remain to help withstand the downturn.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is a part of the June 2018 forecast (released May 23rd).
The document summarizes the key elements and economic impacts of the Tax Cuts and Jobs Act. It finds that the tax cuts will add $1-1.5 trillion to the national debt over 10 years, benefit high-income groups the most, and potentially increase the number of uninsured by 13 million people. While proponents claim it will boost economic growth and job creation, most experts estimate only a small, temporary GDP increase with limited benefits that fade over time. There are also risks that higher debt could crowd out private investment and increase the chances of a fiscal crisis.
The document is a December 2021 economic and revenue forecast from the Oregon Office of Economic Analysis. It summarizes that revenues are booming due to strong labor income and inflation allowing businesses to pass along costs. However, there is a risk of persistent high inflation leading to a boom/bust cycle as interest rates rise. Urban areas are currently lagging rural growth but factors favor future urban growth. Revenues were revised upwards with personal and corporate taxes setting records. Sizable budget reserves remain though a potential economic downturn poses budget risks.
The document summarizes recent tax legislation focused on small businesses, including the Small Business Jobs Act of 2010 and the 2010 Tax Relief Act. The Small Business Jobs Act provided tax incentives like increased Section 179 expensing and bonus depreciation. The 2010 Tax Relief Act extended many existing tax breaks for two years and provided additional stimulus measures like 100% bonus depreciation on new property. It also granted significant estate tax relief with a $5 million exemption and 35% top rate through 2012.
This document discusses different levels of government spending and taxation in the United States. It begins by defining Gross Domestic Product (GDP) as the total value of goods and services produced in the country, and how 34% of all government spending goes towards GDP. It also defines Gross State Product (GSP) and Gross Regional Product (GRP) as measures of individual state and regional economies. The document then examines various types of taxes used by national, state, and local governments, including income, sales, property, corporate and excise taxes. It concludes by outlining five principles for evaluating different tax systems: equity, yield, elasticity, political accountability, and acceptability.
This document summarizes estimates by the Tax Policy Center of the tax plans proposed by four Republican presidential candidates - Romney, Santorum, Gingrich, and Obama. It finds that Romney's plan would lose the most revenue ($902.5 billion) compared to current policy, while Obama's plan would increase revenue by $168.4 billion. All the Republican plans would cut taxes for higher income groups and raise taxes on the lowest income groups compared to current policy. The estimates do not account for any behavioral responses to the proposed tax changes.
The Oregon Office of Economic Analysis forecasts the state The economy and General Fund and Lottery Fund revenues. This slide presentation is part of the June 2020 forecast, released May 20th.
This document summarizes the March 2022 economic and revenue forecast from the Oregon Office of Economic Analysis. It finds that Oregon's economy continues to experience strong inflation-driven growth, with rising wages and revenues. However, housing supply remains constrained, with Oregon underbuilding over 100,000 homes in recent decades. This shortage contributes to affordability issues and could limit future population and revenue growth. Overall, the revenue outlook has strengthened further, with personal income, corporate, and other tax revenues all projected to grow strongly through 2027.
Where's the Money? State and Local Government Finance Forecast - Outlook 2015Jon Yoffie
"IT’S NOT DOING MORE WITH LESS, IT’S DOING MORE WITH THE SAME." Governing Publisher Mark Funkhouser coined this one in the "Where’s the Money?" briefing on state and local government revenues and budgets. State and local government revenues are up 3.3% overall, but spending next year will be a bit below the pre-Recession peak, and long-term growth rates are going to be lower than projected long-term liabilities (pensions, government retiree healthcare, Medicaid, etc.), even as federal-to-state and state-to-local funds decline. So while we’ve moved beyond doing more with less, the bottom line is still (and for the foreseeable future will be) the bottom line. Finding ways to cut costs, increase efficiencies and fund programs with creative revenue-generating or private-sector partnership solutions will be paramount.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is part of the December 2019 forecast, released November 20th.
This document contains the Cenvat Credit Rules, 2004 as amended by various notifications. It provides definitions for key terms related to cenvat credit such as input, input service, capital goods, exempted goods, manufacturer, and job work. The rules establish the framework for availing and utilizing cenvat credit under the excise and service tax laws.
The Economic Survey 2017-18 discusses the state of the Indian economy. It projects GDP growth of 6.75% for 2017-18 and estimates 7-7.5% growth for 2018-19. Some key highlights include the successful launch of GST, efforts to resolve non-performing assets through the Insolvency and Bankruptcy Code, and increased tax revenues through widening the tax base. The survey also notes challenges such as globalization backlash, stalling structural transformation, human capital regression, and climate change impacts on agriculture. Overall, it recommends completing ongoing reforms through cooperative federalism as the path forward.
La Unión Europea se originó en 1995 con el objetivo de aproximar a los países europeos en el plano económico. Sus principales objetivos son promover la unidad de Europa, mejorar las condiciones de vida de sus ciudadanos y fomentar el desarrollo económico. Sus principales instituciones son la Comisión Europea, que ejerce el poder ejecutivo; el Consejo de Ministros, que congrega a los ministros de los diferentes países; y el Parlamento Europeo, que garantiza la participación de los ciudadanos. El euro fue introducido
An former officer of Scotland Yard's anti-terrorism squad has started an initiative in Kolkata to employ rag-pickers to process municipal solid waste into compost in order to provide economic opportunities and uplift their living conditions. The project aims to employ 60 rag-pickers initially to collect, segregate and convert organic waste into nutrient-rich compost, which has shown increased crop yields in trials, to be sold to farmers. The project coordinator hopes this will help reduce waste going to landfills while providing a sustainable livelihood for rag-pickers.
We are into Latest Application Programming.
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At intoLAP we are eagerly looking forward to serve our clients with every possible modern and innovative technique so that you feel proud to see your site lording over all others
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so that we can grow with you by creating a mutually beneficial and professional business relationship between us.
Looking forward to work with valued clients whom i'ii try to satisfy with 24/ 5 services through my highly enthusiastic team waiting eagerly to render their services and hone their skills.
The document summarizes several news stories from The Statesman newspaper dated March 20, 2015. It includes brief summaries of parliamentary proceedings where the finance minister defended the budget, a survey finding some school students in Kolkata visit red-light districts without protection, and the bizarre situation of two annual general meetings being called on different dates by the president and CEO of the Basketball Federation of India, highlighting factional issues within the organization.
This document provides contact information for recording services, including a phone number and email address. The phone number is +65-93257505 and the email for contacting the recording services is e.ombilod@gmail.com.
A programming language allows people to create programs that instruct machines what to do. There are different levels of programming languages from high-level to low-level. High-level languages like C, C++, Java, HTML and XML are more understandable for programmers as they are further abstracted from hardware. Low-level languages work more closely with hardware and do not require compilation. The document then provides examples of programs in C, Java, HTML and CSS to illustrate these points.
This document is a resume for Joseph Bellini providing his contact information, background, accomplishments, highlights, and work experience. It summarizes that he has over 20 years of bi-lingual sales experience, including roles in insurance, real estate, credit counseling, and retail. His most recent role was as a top-performing AAA Membership Sales Representative where he received multiple awards for his sales achievements.
El documento describe el Instituto Superior Tecnológico Público "La Merced" y su perfil técnico en la carrera de contabilidad. El instituto busca formar profesionales técnicos con altos estándares de calidad para servir a la región y al país. Los egresados podrán desempeñarse en funciones contables y administrativas en empresas de diversos sectores.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms for those who already suffer from conditions like anxiety and depression.
The document discusses a promotion package for a new album that includes a music video and two of the following: a website, album cover, or magazine advertisement. It analyzes the genre conventions of hip hop promotions and how the package elements meet or diverge from these conventions through their use of color, imagery, and narrative elements. Specifically, the magazine ad and album cover successfully use bright colors that identify them as hip hop products, but the music video could better incorporate hip hop conventions through its location, casting of older actors, and focus on narrative.
Puisi pertama menggambarkan pengabdian cinta seseorang yang rela melepas orang yang dicintai demi kebahagiaannya, sementara puisi kedua mendeskripsikan perasaan senang pengarang terhadap sekolahnya.
This document contains a collection of photo credits from various photographers including practicalowl, katerha, sean dreilinger, peddhapati, archer10, Sebastian Niedlich, johntrainor, avlxyz, laceygerard, Gulfu, Wolfgang Staudt, SimonRahn, Artotem, freefotouk, Birmingham Museum and Art Gallery, green umbrella, Geraint Rowland Photography, and Mara ~earth light~. The document encourages the reader to get started creating their own presentation using these types of photos on SlideShare.
Este documento discute la importancia de enseñar la lectura en voz alta a adolescentes para satisfacer sus necesidades básicas y enfrentar los desafíos académicos. Recomienda que los maestros implementen estrategias como iniciar la clase con lectura, dejar que los estudiantes continúen la lectura en casa, y abordar los aspectos más relevantes en la siguiente sesión. También promueve habilidades como la creatividad, comprensión, imaginación y curiosidad a través de este enfoque de trabajo centrado en la lectura
Fixed Point Realization of Iterative LR-Aided Soft MIMO Decoding AlgorithmCSCJournals
Multiple-input multiple-output (MIMO) systems have been widely acclaimed in order to provide high data rates. Recently Lattice Reduction (LR) aided detectors have been proposed to achieve near Maximum Likelihood (ML) performance with low complexity. In this paper, we develop the fixed point design of an iterative soft decision based LR-aided K-best decoder, which reduces the complexity of existing sphere decoder. A simulation based word-length optimization is presented for physical implementation of the K-best decoder. Simulations show that the fixed point result of 16 bit precision can keep bit error rate (BER) degradation within 0.3 dB for 8×8 MIMO systems with different modulation schemes.
Home Owner Interaction with Federal Income Tax SystemNAR Research
This document provides information on home owner interactions with the federal income tax system. Some key points:
- There are 75 million home owners in the US who can deduct mortgage interest and property taxes from their taxes.
- Home owners pay between 80-90% of federal individual income taxes.
- The standard deduction amounts and tax rates homeowners fall under determine how much they can save in taxes from deductions.
- On average, homeowners in their 30s-40s deduct the most in mortgage interest while those over 65 deduct the most in property taxes.
The document summarizes the key provisions and impacts of the American Taxpayer Relief Act passed in January 2013. It discusses how the Act avoided some tax increases by making Bush-era tax cuts permanent for individuals making under $400,000 but increased rates for higher incomes. Business provisions like Section 179 expensing and bonus depreciation were also extended. The estate tax exemption was made permanent at $5 million indexed for inflation.
2018 Pennsylvania Tax Update: The State Budget, Legislation, and Multistate T...McKonly & Asbury, LLP
This webinar was hosted by McKonly & Asbury Senior Tax Manager and SALT Leader, Michael Eby, and Tax Supervisor, Lindsey Waltemyer.
It provides an overview of the enacted 2017-2018 Pennsylvania State Budget; a brief update on recently passed Pennsylvania tax legislation and court decisions of interest; and discusses how states, including Pennsylvania, are addressing these changes at the Federal level in their own respective tax structure.
The Oregon Office of Economic Analysis forecasts the state economy and General Fund and Lottery Fund revenues. This slide presentation is a part of the March 2018 forecast (released February 16).
The Tax Cuts and Jobs Act of 2017 made significant changes to the US tax code that will impact taxpayers. It lowered tax rates for individuals and doubled the standard deduction. However, it also capped state and local tax deductions, eliminated miscellaneous deductions, and increased the child tax credit. The act is temporary and many provisions will expire after 2025. Taxpayers need to check their withholding and adjust their W-4 forms to avoid underpayment of taxes owed or overpayment resulting in smaller refunds.
The document discusses Wisconsin's tax system and Governor Walker's tax reform initiatives. It provides details on reforms implemented in 2011 and 2013 that reduced income tax rates, increased deductions, and provided $1.4 billion in total tax cuts. Business tax incentives were also increased. Property taxes have been controlled, and income tax payments have been reduced for taxpayers at all income levels, with middle-class taxpayers receiving the greatest relief. The document examines Wisconsin's tax rates and rankings compared to other states.
The Long Lasting Impact of Tax Reform - Long IslandCitrin Cooperman
This document provides an overview of the long-lasting impacts of the 2017 tax reform act. It discusses changes to individual tax rates, the alternative minimum tax, and the new 20% deduction for qualified business income of pass-through entities. The document also covers changes to corporate tax rates, which were reduced to a flat 21%, the repeal of the corporate alternative minimum tax, and modifications to net operating loss deductions and research and experimentation expenditures.
Vol.24. 001 State income tax withholding rates and tables for 2023 prelimin...Debera Salam, CPP
Our preliminary report of the 2023 supplemental, flat tax and highest income tax withholding rates is now available. The chart includes links to the latest withholding formulas/employer withholding guides
The document provides an overview of New Mexico's 2022 legislative tax and fiscal updates presented to the New Mexico Chapter of the Association of Governmental Accountants on May 18, 2022. Key points include personal income tax rebates of up to $500, a 1/8% cut to the gross receipts tax rate over two years, exemptions for social security and military retirement income, and expanded tax credits for nurses and families. Projected tax relief totals over $1 billion with additional bills aimed at health insurance enrollment, renewable energy incentives, and preventing double taxation. State coffers are estimated at $2.3-2.5 billion for the next two fiscal years.
Testimony: Mississippi Tax Policy: Options for Reform (10/3)Tax Foundation
Nicole Kaeding from the Tax Foundation presented to the Mississippi Tax Policy Panel on options for tax reform in Mississippi. She discussed Mississippi's rankings in the State Business Tax Climate Index, particularly its low rankings for sales tax and property tax. She suggested reforms like broadening the sales tax base, accelerating the phase out of the franchise tax, and eliminating the intangibles tax and throwback rule to improve Mississippi's competitiveness. The presentation highlighted analyzing Mississippi's entire tax structure and setting long-term goals as keys to successful tax reform.
NJ Future Lincoln Institute Resiliency Symposium 10 30-14 ColemanNew Jersey Future
This document summarizes a presentation about funding resilience efforts in New Jersey given economic challenges. It finds New Jersey faces both a structural deficit of $1.5-10.5 billion annually due to ongoing spending exceeding revenue, as well as a cyclical deficit as revenues have yet to fully recover from the recession. The state budget relies heavily on areas like education that are important investments. Options discussed to close deficits include reducing spending, increasing existing taxes like income and sales taxes by broadening bases or closing loopholes, and generating new revenue through online gambling or sports betting, but each faces challenges.
An overview of current tax reform proposals and potential implications. Overview of business implications with Chairman Camp's 2014 discussion draft, Senator Hatch's 2014 report on tax reform, corporate integration, House tax reform task force, and The Trump Plan.
This document summarizes several major tax reform proposals in the United States, including Chairman Camp's 2014 proposal, Senator Hatch's 2014 report, the Ryan Plan, and proposals from Trump. Key elements discussed are lowering corporate tax rates, reducing individual tax brackets, eliminating certain deductions, moving to a territorial system, and replacing parts of the Affordable Care Act. Major disagreements between Republican plans are also outlined.
The presentation provided an overview of the enacted 2017-2018 Pennsylvania State Budget, including a summary discussion of what tax items have been on the table for negotiation during the past few years.
During the second leg of the webinar, the presenter provided a brief update on recently passed tax legislation and court decisions of interest. The Department of Revenue has been active in releasing several important information notices during the first half of 2017 regarding sales tax on computer services as well as appeal process procedural changes. We also took a look at the numbers from the most recent PA Tax Amnesty.
In the final leg of the webinar, we looked ahead at how some of the tax legislation passing in other states may soon be coming to Pennsylvania.
Income Tax Tips for PFMs Working with Military Familiesmilfamln
This is a free webinar hosted by the Personal Finance concentration area of the Military Families Learning Network.
This 90-minute webinar will address updates to tax changes that affect military families and service members. Barbara O’Neill will discuss tax basics and common tax errors during the first half hour of this interactive webinar. In the second half Taylor Spangler of University of Florida Extension will talk about the specific tax issues of concern to military families, as well as provide military specific resources for tax help and support. Carol Kando-Pineda of the Federal Trade Commission will close the session with an update on the resources available through identitytheft.gov. Find more info: https://learn.extension.org/events/3191
Tax Foundation University 2017, Part 1: Why Tax Reform? Why Now? Why Not Just...Tax Foundation
This presentation reviews key considerations in tax reform – balancing revenues, growth, and tax equity.
Charts describe the current tax system, its general framework, progressive structure, complexity, biases, and distorting features.
It also explores who pays taxes, and how markets shift the tax burden.
2013 Global Relocation Conference: New 2013 Relocation Payroll and Tax IssuesOrion Mobility
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Property, Income and Sales Tax Performance Through Economic Fluctuations
1. PROPERTY, INCOME, AND SALES TAX
PERFORMANCE THROUGH ECONOMIC
FLUCTUATIONS
John E. Anderson
University of Nebraska-Lincoln
and
Lincoln Institute of Land Policy
3. New Estimates of State and Local Tax Resilience
• Estimate relationship between changes in state GDP and changes in state
and local tax revenue
• Property, income, and sales tax data
• Property tax data: 1967-2012
• Income and sales tax data: 1972-2012
• Estimate two relationships:
• Long-run buoyance: change in revenue in response to change in state GDP
• Error correction: response following a GDP shock, returning to long-run equilibrium
4. Two Measures of Resilience
• Buoyance measures the long-run relationship between changes in state GDP
and changes in tax revenue
• No adjustments for policy offsets (i.e. tax rate or base changes)
• A buoyancy estimate of 1.0 indicates that a one percent change in GDP results in a one
percent change in tax revenue
• An estimate less than 1.0 indicates a less than proportionate change in tax revenue
• An estimate more than 1.0 indicates a more than proportionate change in tax revenue
• Error correction term measures how a tax system responds to a GDP shock
as it adjusts to its long-run equilibrium
• A negative sign indicates that a positive error in the previous year (revenues above trend) is
followed by a negative adjustment in the following year
5. Tax Buoyancy and Error Correction Estimates, Overall
Estimates for the 50 States and D.C.
Property Tax Income Tax Sales Tax
Long-run buoyancy 0.78 1.06 0.90
Error correction -0.75 -0.21 -0.81
• The property tax is the most stable revenue source with a long-run buoyancy estimate less than
one; followed by the sales tax which is more buoyant
• The income tax is the least stable revenue source, reacting more than proportionately to state
GDP shocks
• In terms of error correction, adjusting to shocks that displace states from their long-run equilibrium,
the sales and property tax systems adjust more quickly, while income tax systems adjust much
more slowly
6. Long-Run Tax Buoyancy—New England States
Property Tax Income Tax Sales Tax
Connecticut 0.82*** 4.63*** 0.52***
Maine 0.53 0.68 0.83***
Massachusetts -1.57 1.17*** 0.78***
New Hampshire 0.86***
Rhode Island -0.31 1.09** 0.83***
Vermont 1.02*** 1.17*** 1.02***
***, **, and * indicate statistical significance at the 1%, 5%, and 10% levels
7. Long-Run Tax Buoyancy—New England States
• Property tax:
• CT, NH and VT have property tax buoyancy in the range of 0.8 to 1.0, somewhat less than
proportional responses to changes in state GDP
• ME, MA, and RI have no buoyancy, i.e. fluctuations in state GDP have little or no impact on
property tax revenues
• Income tax:
• CT has an extremely volatile income tax system (4.6)
• MA, RI, and VT have buoyancy estimates that are greater than one indicating more than
proportional responses to changes in state GDP (1.1 to 1.2)
• Sales tax:
• VT has unitary buoyancy (1.0)
• ME, MA, and RI have buoyancy of about 0.8, indicating less than proportional response
• CT has a less response sales tax system (0.5)
8. Error Correction Terms—New England States
Property Tax Income Tax Sales Tax
Connecticut -0.11 -0.37*** -0.76***
Maine -1.14*** -0.07 -0.83***
Massachusetts -1.11*** -0.38*** -1.03***
New Hampshire -0.98***
Rhode Island -1.12*** -0.13 -1.22***
Vermont -0.76*** -0.62*** -0.90***
***, **, and * indicate statistical significance at the 1%, 5%, and 10% levels
9. Error Correction Terms—New England States
• Property tax:
• Error correction terms are strongest for property tax systems
• For all New England states, except CT, the error correction terms are in the range of 1.0 to
1.1, indicating quick recovery after a GDP shock
• Income tax:
• Error correction terms for CT, MA, and VT are much smaller, in the range of 0.3 to 0.6,
indicating slow corrections after GDP shocks
• ME and RI terms are essentially zero, indicating little to no correction after a shock
• Sales tax:
• Error correction terms are in the range of 0.8 to 1.2 indicating relatively strong corrections
after GDP shocks
• RI has the strongest correction process
10. Policy Implications
• Volatility through the business cycle depends on the state and local portfolio of
revenue sources
• Reliance on property tax revenue produces relative stability and resilience
• Reliance on income taxes produces greater volatility and slower recovery
resilience to shocks
• Reliance on sales tax revenue also produces relative stability and resilience
• Individual state performance depends on the portfolio of revenue sources
11. State and Local Tax Revenue Shares (%)
New England States, 2013
Property Tax (%) Income Tax (%) Sales Tax (%)
Connecticut 40 32 28
Maine 43 26 31
Massachusetts 40 27 33
New Hampshire 77 2 21
Rhode Island 48 21 31
Vermont 47 21 32
12.
13.
14. Conclusions
• State revenue source portfolios have a direct impact on the buoyancy and
resilience of state tax systems
• Evidence indicates that states more heavily reliant on property and sales taxes experience
more stable revenue streams and faster error corrections following GDP shocks
• Evidence also shows that states more heavily reliant on income taxes experience less
stable revenue streams and have slow error correction processes
• If the policy objective is to have a stable revenue stream and a resilient tax
system, this evidence points toward greater reliance on property and sales
taxes
16. State and Local Tax Revenue Shares
Middle Atlantic States, 2013
Property Tax Income Tax Sales Tax
New Jersey 52 24 24
New York 36 36 28
Pennsylvania 34 30 36
17. Long-Run Tax Buoyancy—Middle Atlantic States
Property Tax Income Tax Sales Tax
New Jersey -0.51 1.57 0.73***
New York 1.13*** 1.39*** 0.73***
Pennsylvania -0.01 1.25*** 0.95***
***, **, and * indicate statistical significance at the 1%, 5%, and 10% levels
18. Error Correction Terms—Middle Atlantic States
Property Tax Income Tax Sales Tax
New Jersey -1.10*** -0.19*** -0.80***
New York -0.10 -0.57*** -0.92***
Pennsylvania -1.09*** -0.68*** -0.87***
***, **, and * indicate statistical significance at the 1%, 5%, and 10% levels