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UN Tax Pact May Need OECD Nations’ Support, Diplomats Say

by usoftax_admin | Feb 23, 2024 | Tax News

The United Nations’ global tax convention will likely require adoption by many advanced economies to address corporate tax abuse effectively, diplomats said, after countries resolved to pursue consensus over the long term but retain majority rule while drafting...

Wis. Lawmakers OK Income Tax Cut Via Change To Brackets

by usoftax_admin | Feb 23, 2024 | Tax News

The Wisconsin Senate passed a bill that would expand the state’s second-lowest individual income tax bracket to cover higher levels of income, sending the measure to the governor.

SC Revenues Through Jan. Down $453M From Previous Year

by usoftax_admin | Feb 23, 2024 | Tax News

South Carolina general revenue collections from July through January were down $453 million compared with the same period last fiscal year, according to data released by the state Board of Economic Advisors.

Location, Location, Location: SALT In Review

by usoftax_admin | Feb 23, 2024 | Tax News

From a possible replacing of Florida’s property tax to Cincinnati’s taxing of remote workers, RSM’s David Brunori offers his thoughts on noteworthy state and local tax news.

Lead Pipe Replacement Not Taxable, IRS Says

by usoftax_admin | Feb 23, 2024 | Tax News

The government-triggered replacement of lead service lines on residential property is not considered taxable income, the Internal Revenue Service said Friday.

Minn. Bill Would Put Sales Tax Hike For Housing To Voters

by usoftax_admin | Feb 23, 2024 | Tax News

Minnesota voters would decide whether to amend their state constitution to boost the state sales tax rate by 0.375 percentage points, with the revenue dedicated to housing programs, under legislation introduced in the state Senate.
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