by usoftax_admin | Jun 25, 2024 | Tax News
The United States’ debt-to-gross-domestic-product ratio is the highest it’s been since World War II, necessitating a wide range of tax changes to both expand the tax base and increase rates to alleviate fiscal pressures, the OECD said Tuesday. by usoftax_admin | Jun 25, 2024 | Tax News
Gov. Gavin Newsom vigorously defended his state’s fiscal policy Tuesday, declaring that California is not a high-tax state despite having the nation’s highest overall individual income tax burden and highest gas tax. by usoftax_admin | Jun 25, 2024 | Tax News
A jewelry company’s one-day-late filing of a petition for reconsideration of an employment tax determination does not deprive the U.S. Tax Court of jurisdiction in the case, the court said Tuesday, denying the IRS’ attempt to get the case tossed. by usoftax_admin | Jun 25, 2024 | Tax News
Bristol-Myers Squibb asked the New Jersey Tax Court to reverse the state’s upholding of a $4.6 million nonresidential development fee on renovations to buildings on a 91-acre campus, arguing the improvements were excluded from the levy. by usoftax_admin | Jun 25, 2024 | Tax News
Hawaii conformed its income tax and estate and generation-skipping transfer tax laws to the federal tax code as amended through 2023 under a bill signed by the governor.