Tag

Tax Exemption

All articles tagged with #tax exemption

politics1 month ago•3 min saved

NYC Extends Pied-à-Terre Tax Appeal Deadline After Rollout Confusion

New York City Mayor Zohran Mamdani extended the pied-à-terre tax exemption appeal deadline to Sept. 18 due to a confusing rollout, up from Aug. 21. City officials clarified that only about 17,000 addresses are suspected second homes worth more than $5 million, after posting a database of more than 900,000 properties that may be subject. The extension comes with expanded outreach and assistance via 311 and the Department of Finance website. The tax is intended to raise funds for safety projects, parks, and other city investments.

via Gothamist|

#department-of-finance #new-york-city #pied-a-terre-tax

business3 months ago•3 min saved

SpaceX lands multi-billion tax breaks for AI chip plant amid local pushback

SpaceX has secured tax exemptions for a $55 billion AI chip manufacturing plant, a move welcomed by investors for potential jobs and growth but criticized by locals who fear subsidies and long-term costs.

via Financial Times|

#ai-chip #business #local-backlash

economy7 months ago•18 min saved

Record Municipal Bond Boom Fuels Public Projects and Tax-Efficient Investing

U.S. state and local governments issued a record $500 billion in municipal bonds last year to fund airports, roads and utilities, attracting a large pool of buyers drawn to tax-exempt income and yields that can compete with Treasuries; the muni market has grown to over $4 trillion, financing long-term projects while sparking warnings from economists about potential debt bubbles, credit downgrades, and climate-related risks, even as some states (e.g., Illinois) see improving credit prospects.

via The New York Times|

#debt-market #economy #infrastructure

politics8 months ago•3 min saved

Texas Implements New Laws Starting January 1

Starting January 1, Texas will implement over 30 new laws including mandates for sheriffs to cooperate with ICE, age verification for app downloads, tax exemptions for inventory, faster eviction processes for squatters, and comprehensive AI regulation, reflecting significant policy changes from the recent legislative sessions.

via FOX 7 Austin|

#ai-regulation #eviction-process #immigration

world1 year ago•2 min saved

Europe and India Suspend U.S. Postal Shipments Over Tariffs

Several European countries are halting postal services to the US following the US's decision to scrap a tax exemption on low-value imports, impacting transatlantic e-commerce and prompting immediate suspension of shipments by major postal operators.

via Euronews.com|

#europe #postal-services #tax-exemption

business1 year ago•0 min saved

Trump Ends Global De Minimis Tax Exemption, Impacting Retail and Trade

Former President Trump has ended the global 'de minimis' tax exemption, which could have significant implications for retail stocks by potentially increasing tax burdens on cross-border e-commerce and imports.

via Barron's|

#business #de-minimis #global

economy1 year ago•4 min saved

Trump Considers Eliminating Capital Gains Tax on Home Sales

President Trump has suggested considering the elimination of capital gains taxes on home sales, which could benefit homeowners with significant gains, especially long-term owners in high-value markets. Currently, exemptions allow up to $250,000 (single) or $500,000 (married) in gains tax-free, but inflation and rising home prices mean more homeowners may face taxes. If enacted, this change could favor wealthier, long-term homeowners, particularly in expensive markets, and potentially influence housing market dynamics.

via CNN|

#capital-gains-tax #economy #home-sales

law1 year ago

Supreme Court to Review Catholic Charity's Religious Tax Exemption Case

The Supreme Court is set to hear a case involving a Catholic charity's request for a tax exemption, which could have significant implications for religious organizations seeking similar exemptions.

via The New York Times|

#catholic-charity #law #legal-case

personal-finance2 years ago•6 min saved

Understanding Capital Gains Taxes on Home Sales for Retirement Planning

When selling your primary home and making a $750,000 profit, you may owe capital gains taxes depending on various factors. The IRS taxes home sales as gains or losses on investments, with capital gains rates applying if you owned the property for one year or more. However, there is a capital gains exemption for primary residences that allows married couples to exclude up to $500,000 in profits from taxes, and individuals can exclude up to $250,000. Calculating your capital gains taxes involves considering factors such as marital status, total household income, duration of ownership, and adjusted cost basis. It is advisable to consult a financial advisor for assistance in managing your tax liability.

via Yahoo Finance|

#capital-gains-taxes #financial-advisor #home-sale

politics2 years ago•5 min saved

"California Senate Candidate Rep. Adam Schiff's Dual Residences Raise Questions"

California Senate hopeful Rep. Adam Schiff, who is running in a competitive primary, has claimed his primary residence as a home he owns in Maryland, while also taking a homeowner's tax exemption on a smaller condo in California. Tax records and other evidence suggest that Schiff spends most of his time in Maryland, raising questions about his residency claims. While he is likely not in legal jeopardy, the dual residency could complicate his Senate campaign and present a political problem. Similar residency concerns have plagued other politicians running for Senate positions in the past.

via CNN|

#adam-schiff #california-senate #maryland

education3 years ago•3 min saved

"Florida's Back-to-School Sales Tax Holiday Kicks Off"

Florida's back-to-school sales tax holiday has begun, allowing shoppers to purchase qualifying items without paying sales tax until August 6. The tax exemption applies to a wide range of items, including clothing, shoes, school supplies, computers, printers, headphones, and monitors. This year, there will be two school supply sales tax holidays, with the second one taking place in January.

via WESH 2 Orlando|

#back-to-school #education #florida

cryptocurrency3 years ago•1 min saved

Japan exempts token issuers from crypto tax on unrealized gains and considers global stablecoin launch.

Token issuers in Japan are now exempt from paying corporate taxes on unrealized cryptocurrency gains, according to a law revision by the National Tax Agency. The tax exemption goes into effect nearly six months after the Japanese government approved a proposal eliminating the requirement for crypto firms to pay taxes on paper gains on tokens they issued and held. The ruling Liberal Democratic Party expects to make it “easier for various companies to do business that involves issuing tokens.”

via Cointelegraph|

#anti-money-laundering-measures #crypto-regulations #cryptocurrency

business3 years ago•1 min saved

China's Extended Tax Breaks Boost EV Demand and Benefit Tesla, BYD, Nio, and Others

China has extended the purchase tax exemption for new energy vehicles (NEVs), including pure electric energy vehicles, fuel-cell vehicles, and plug-in hybrids, until the end of 2025. For NEVs purchased between Jan. 1, 2026, and Dec. 31, 2027, the vehicle purchase tax will be levied at half the normal rate. The extension of the purchase tax exemption comes at a time when the economy is experiencing a soft patch, and the NEV industry faces intense competition due to the entry of numerous players. Cheaper models from domestic companies are expected to benefit more from the cap on the purchase tax exemption compared to premium vehicles from foreign companies.

via Benzinga|

#business #china #electric-vehicles