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Tag: tax
Little-known tax trial may lead to big state payout
2015-03-01 05:57:04| Paper - Topix.net
Minnesota could be on the hook for $700 million in refunds should it lose a case pending in state tax court. The $700 million figure -- which would be more than half the state's annual corporate franchise tax collections and about 2 percent of its biennial general fund budget -- was given in court papers in November by state Solicitor General Alan Gilbert, who is representing the state Revenue Department in an appeal brought by Dallas-based Kimberly-Clark Corp. Even if Gilbert's estimate is on the high side, the state's potential liability is "a big deal," said Richard Pomp, a professor at the University of Connecticut School of Law and a former consultant to the Multistate Tax Commission.
Lawmakers may end tax break on jet fuel, to Delta's dismay
2015-02-28 22:42:41| Airlines - Topix.net
In this April 14, 2008 file photo, a Delta Airlines jet departs Hartsfield Jackson Atlanta International Airport in Atlanta. Georgia lawmakers could take the rare step of eliminating a corporate tax break this session _ despite opposition from one of the state's largest employers, Delta Airlines.
Iowa gives B11 and above a tax break
2015-02-26 20:56:07| Green Car Congress
Coutts' Swiss bank in tax probe
2015-02-26 17:14:26| BBC News | Business | UK Edition
German prosecutors are investigating the Swiss private banking arm of Coutts over allegations it helped clients evade tax.
Businesses speaking out against Kasich's proposed tax hikes
2015-02-26 13:42:00| Auto Dealers - Topix.net
One day after Gov. John Kasich urged lawmakers in his State of the State speech to resist those who want to avoid tax changes in Ohio, a host of business and professional organizations lined up in a House committee to voice concerns about his plan. In his new two-year budget, Kasich has proposed $5.7 billion worth of income-tax cuts and $5.2 billion worth of tax hikes, including a sales-tax increase and expansion, along with increases in the commercial-activity, fracking and tobacco taxes.
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