Government taxation and revenue
NY residents voting on school budgets
New York school districts are proposing an average tax levy increase of 2.8 percent in budgets being voted on, with all but a relative few staying within taxing limits set by the state to virtually assure passage. Last year, 99 percent of budgets that adhered to the state's tax cap ...
Summary of action in Alabama Legislature
A summary of action in the Alabama Legislature on Monday, the 30th and final meeting day of the regular session: HOUSE: —Joined the Senate in rejecting the governor's proposal to delay Alabama's new private school tax credits for two years. —Gave final approval to a major overhaul of Alabama's gun ...
Obama aides knew of tax probe; president not told
The White House chief of staff and other senior presidential advisers knew in late April that an upcoming report was likely to find that employees of the U.S. tax agency had inappropriately targeted conservative political groups — but they didn't tell President Barack Obama. The White House on Monday said ...
Ala. Legislature rejects Bentley's 2-year-delay
The Republican majority in the Alabama Legislature handed the GOP governor a major defeat Monday night by rejecting his proposal to delay the start of private school tax credits for two years. The House voted against the governor's proposal 57-10 Monday. Then the Senate agreed 19-15 at the urging of ...
Panel: Apple uses firms outside US to avoid taxes
Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. The world's most valuable company is holding overseas some $102 billion of its $145 billion in cash, and an Irish subsidiary that ...
Business Highlights
___ Yahoo takes big leap with $1.1 billion deal for Tumblr SAN FRANCISCO (AP) — Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet pioneer that had fallen behind the times. The deal announced Monday is Mayer's boldest move since ...
Court rules for Fannie, Freddie in Oakland lawsuit
A federal appeals court overturned a lower court ruling and threw out tax claims by Oakland County against the federally charted mortgage giants Fannie Mae and Freddie Mac. In an opinion released Monday, the U.S. 6th Circuit Court of Appeals in Cincinnati determined that Oakland County tried to "get around ...
Neighbors wary of polygamist ranch
Anna Luna lives four blocks down from the Schleicher County ranch that spurred national attention just more than five years ago. "I just stick to myself and my family," she told the San Angelo Standard-Times (http://bit.ly/13qEoeE). "They don't bother me; I don't bother them." Her sentiment is one shared by ...
Obama agenda marches on despite controversies
Despite Democratic fears, predictions of the demise of President Barack Obama's agenda appear exaggerated after a week of cascading controversies, political triage by the administration and party leaders in Congress and lack of evidence to date of wrongdoing close to the Oval Office. "Absolutely not," Steven Miller, the recently resigned ...
Man accused of embezzling $255K to change plea
Prosecutors say a 42-year-old man accused of embezzling $255,000 from an office supply company in Cortez is expected to change his plea. Jeff Dorschner, a spokesman for the U.S. Attorney's office, tells the Cortez Journal that (http://bit.ly/14h7q3v ) Brian K. Shoults initially pleaded not guilty to wire fraud and tax ...
Mo. lawmakers pass budget patch for kids' program
Legislation passed in the closing hours of Missouri's annual session Friday could patch a hole in the state budget for early childhood programs and some health care initiatives. Legislators gave final approval to two measures, each of which would order the transfer $55 million of general revenues into a newly ...
Analyst pegs revenue $3.2B higher than Gov. Brown
The state's independent budget analyst said Friday that California will take in $3.2 billion more in tax revenue than Gov. Jerry Brown estimated, providing Democratic lawmakers an argument to funnel more money into state programs and setting up a spending showdown with the administration. The Legislative Analyst's Office released its ...
5 things to know in Florida for May 18
Your daily look at news, upcoming events and the stories that will be talked about today. STATE'S UNEMPLOYMENT RATE DROPPING On Friday, Gov. Rick Scott used a Twitter account — (at)ItsWorkingFL — to announce April unemployment figures dropped to 7.2 percent. The governor called that "great news." That's down from ...
Texas sues BP for damages related to oil spill
Texas on Friday became the fifth state to sue British oil company BP over the 2010 Deepwater Horizon oil spill, seeking damages related to the worst offshore oil spill in U.S. history. The lawsuit, filed by the office of Texas Attorney General Greg Abbott in federal court in Beaumont, is ...
Patrick restores some funds cut from Mass. budget
Citing improved tax collections, Gov. Deval Patrick's administration on Friday restored nearly $21 million in budget cuts, the bulk of which will go to local school districts. The funds that were restored amount to less than 10 percent of the $225 million in spending reductions that the governor ordered in ...
Arkansas House speaker won't run for governor
House Speaker Davy Carter said Friday he won't run for Arkansas governor next year, passing on an uphill fight for the Republican nomination made steeper by his support for a health insurance expansion and comments urging his party to move away from social issues. "After much deliberation, I have decided ...
Embattled Scott trumpets drop in Fla. jobless rate
Florida Gov. Rick Scott — who has made his handling of the state's economy the main thrust of his re-election campaign — got more to boast about on Friday. The state's unemployment rate dropped to 7.2 percent in April — putting Florida below the national average for the second straight ...
Tea party group says IRS asked about Walker recall
A Texas tea party group said the Internal Revenue Service asked about its involvement in verifying signatures provided in the effort to recall Republican Gov. Scott Walker, of Wisconsin. IRS officials asked for extensive information about its activities, including an explanation of its involvement with Verify the Recall, which worked ...
Lawmakers to quiz ex-tax chief amid scandal
U.S. lawmakers are ready to question the ousted head of the federal tax authority as Congress holds its first hearing Friday on the tougher scrutiny the IRS gave tea party and other conservative groups that applied for tax-exempt status. On Thursday, President Barack Obama picked a senior White House budget ...
Mich. Senate votes to extend health claims tax
A continuation of a 1 percent tax on health insurance claims passed the state Senate Thursday, but yet to be resolved is how to ensure the levy brings in enough revenue for Medicaid, which serves 1.9 million low-income Michigan residents. The tax, which took effect nearly 17 months ago and ...
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