by taxnick on July 26, 2011
Tax legislation signed last week by Minnesota Gov. Mark Dayton will enable employers to offer coverage to employees’ adult children up to age 26, as they are required to do under federal law, without employees being taxed on the coverage.
The measure, H.F. 20, conforms Minnesota tax law to the federal health care reform law. The [...]
by taxnick on July 23, 2011
The allure of a simpler, more efficient tax code that could fuel economic growth presents a tantalizing possibility for U.S. lawmakers. The path to that goal is littered with political and legislative obstacles.
Even if President Barack Obama and House Speaker John Boehner had agreed to pursue a tax code overhaul as part of a deal [...]
by taxnick on July 23, 2011
You may have noticed that the Internet is everywhere.
We bank, watch movies and read newspapers on the Web. We use smartphones to check stock prices and school schedules.
We can all agree that the Internet is not a fad.
We should also agree it’s now time for the Net to grow up. It’s time to end the [...]
by taxnick on July 19, 2011
The bipartisan “Gang of Six” senators on Tuesday offered a major plan to cut the deficit by more than $4 trillion over the coming decade, but whether it can break through the budget debate will depend on whether Republican lawmakers can find a way to endorse more than $1 trillion in tax increases.
Those tax increases [...]
by taxnick on July 19, 2011
California Attorney General Kamala Harris says online retailers, like Amazon.com, can start to gather signatures to challenge a new law that requires more of them to collect sales tax from California customers.
Harris on Monday issued a title and summary to Secretary of State Debra Bowen for a proposed statewide referendum on ABx1 28.
The bill clarified [...]
by taxnick on July 16, 2011
A group for U.S. citizens overseas says a new American tax law aimed at uncovering hidden assets will only make it harder for U.S. companies to compete globally.
American Citizens Abroad, based in Geneva and Washington, said in a report Thursday the Foreign Account Tax Compliance Act will be virtually unworkable when it takes effect in [...]
by taxnick on July 16, 2011
Escalating its fight to thwart a new levy on Internet purchases, Amazon.com says it will ask California voters to overturn a state law requiring all companies with operations or affiliates here to collect sales tax.
Amazon has refused to collect the 7.25% base sales tax since the law took effect July 1, saying it is unconstitutional. [...]
by taxnick on July 13, 2011
According to BC Southern Interior MP Alex Atamanenko, the proposed tax law announced by the American Government noticed him with deep concern.
The law determines that all individuals holding US citizenship are required to file annual income tax returns with the Internal Revenue Service (IRS). In addition, Canadian financial institutions are required to report to the [...]
by taxnick on July 13, 2011
A looming California electoral battle pitting powerful Internet retailer Amazon.com against the nation’s largest chain stores is expected to be fought on the issue of jobs — with each side saying its position is better for the state’s struggling economy.
Officially, the fight is over the sales tax and Amazon’s refusal to collect it under a [...]
by taxnick on July 8, 2011
Gov. Bill Haslam said Wednesday that untaxed Internet sales are eroding Tennessee’s tax base and said he’s willing to take a leadership role among governors in urging Congress to pass a national approach to collecting sales taxes on goods sold over the Internet.
He said Tennessee is already losing between $300 million and $500 million a [...]