Tag

Taxes

All articles tagged with #taxes

real-estate2 days ago•48 min saved

Sunshine State Lures Billionaires as West Coast Tax Proposals Trigger Exodus

Wealthy tech founders are pulling up stakes from California and Washington to Florida to dodge proposed wealth taxes and benefit from no income tax and a business-friendly climate, pouring hundreds of millions into Florida luxury real estate and fueling a high-end market in Miami; the shift could also undermine California's $100 billion tax goal, with movers like Larry Page, Sergey Brin, Jeff Bezos, Mark Zuckerberg, Larry Ellison, Ken Griffin, Peter Thiel, and Howard Schultz buying property or relocating operations.

via Fortune|

#billionaires #florida #migration

politics2 days ago•7 min saved

Puerto Rico wary of statehood due to taxes and cultural identity

Puerto Rico residents interviewed by Fox News Digital oppose becoming the 51st state, warning that federal taxes could rise, the cost of living could spike, and the island could lose its cultural identity. The piece notes Puerto Rico’s current tax arrangement and how statehood would bring it under the federal tax system, while highlighting economic anxieties and concerns about “Americanization.” Some residents reference politics around President Trump and the island’s debt, and a 2024 nonbinding referendum showed majority support for statehood, though opinions vary and independence is also discussed as a possibility.,

via Fox News|

#culture #economy #politics

business8 days ago•2 min saved

IRS Opens Offshore Tax Probe Into UnitedHealth Group

The IRS is auditing UnitedHealth Group for allegedly underpaying taxes from 2017–2020 by moving profits through a foreign subsidiary; notices were issued in March, and the probe could raise taxable income for those years and potentially affect later years, marking a rare, high-stakes review of a major health-insurance conglomerate.

via STAT|

#business #irs #offshore

business12 days ago•14 min saved

Tax Hikes on Nashville's Broadway Could Dim City's Neon, Warns John Rich

Country star John Rich warns Nashville's Lower Broadway could go dark as a 2025 property reappraisal boosted values and a 26% hike above the revenue-neutral tax rate hits longtime venues, with Acme Feed & Seed facing a tax bill near $600,000 and closures like Nashville Underground cited; city officials defend valuations, and state leaders are considering a special session to shield live music ahead of the 2030 Super Bowl.

via Fox News|

#acme-feed-and-seed #broadway #business

business12 days ago•24 min saved

Illinois Powerball winner could stay anonymous as taxes trim $1.04B prize to about $262M

An Illinois Powerball winner of $1.04B can remain anonymous by filing a claim; they must choose between a lump-sum cash option of about $450.5M or a 30-year annuity. If they take the lump sum, 24% federal withholding reduces it to about $342.4M, with a further 13% federal tax dropping it to about $283.8M; Illinois will withhold roughly $22.3M for a 4.95% state tax, leaving about $261.5M. Anonymity is allowed for prizes over $250K if requested; otherwise the winner’s name and city may be disclosed. The claim deadline for the lump sum is Oct 11, and the ticket was bought at a Hy-Vee in Quincy, IL.

via New York Post|

#anonymity #business #illinois

politics13 days ago•18 min saved

Treasury proposes tax-free $2,500 deposits into children’s 'Trump accounts'

The Treasury Department proposed guidance would let parents contribute up to $2,500 per year tax-free to a child’s Trump account via payroll, with employers also able to contribute up to $2,500 annually for each child (counting toward a $5,000 total annual limit). Each child born between 2025 and 2028 could receive $1,000 in federal seed money for investments. If an employer doesn’t contribute, the employee can still contribute $2,500 pretax. The rule is open for public comments through Sept. 25 with a public hearing on Oct. 15, and more than 50 companies have pledged to contribute.

via The Washington Post|

#donald-trump #government-programs #personal-finance

politics15 days ago•8 min saved

El-Sayed says universal healthcare would require higher taxes for many Americans

Michigan Democratic Senate candidate Abdul El-Sayed acknowledged on Meet the Press that universal healthcare would involve Americans paying “a little bit more in taxes,” including those earning under $1 million, shifting costs away from private insurers toward government funding to ensure care at the point of service; opponents criticized the stance as too costly.

via Fox News|

#abdul-el-sayed #medicare-for-all #michigan-senate-race

business16 days ago•3 min saved

Powerball Jackpot Rockets to $905 Million After No Saturday Winner

Nobody matched all six Powerball numbers in Saturday’s drawing, sending the estimated jackpot to $905 million for Monday’s drawing; the winning numbers were 5, 9, 35, 54, 63 and Powerball 7 with a Power Play of 3. A Texas ticket that matched all five white balls with Power Play won $2 million, while four other tickets won $1 million. Saturday’s cash value was about $371 million, and winners can take a lump sum or 30 installments, with taxes varying by state. UK lottery sales began last month, contributing to faster jackpot growth; the overall odds of a grand prize remain about 1 in 292.2 million.

via ABC7 Los Angeles|

#business #jackpot #lottery

politics18 days ago•4 min saved

Missouri GOP recalibrates tax relief strategy after ballot losses

After the defeats of Amendments 4 and 5 across Missouri, Republican leaders say they will rethink their approach to tax cuts and strengthening the constitutional amendment process, prioritizing property tax relief and evaluating income tax changes while engaging with constituents; Democrats push to pivot toward property tax reform and leverage the vote against Republicans ahead of November, though leaders indicate it will take time and internal discussion before a new proposal is rolled out.

via STLPR|

#amendments #constitution #elections

business19 days ago•19 min saved

Tariff refunds hit $100B as corporations cash in, consumers largely left out

The Trump administration has refunded about $100 billion in tariffs after a Supreme Court ruling found the tariffs illegal, with large refunds going to companies like Apple, Ford, and Amazon, while most individuals are unlikely to receive refunds; the Tax Foundation estimates U.S. households paid about $1,000 more in tariffs in 2025.

via The Washington Post|

#business #consumer-prices #donald-trump

local19 days ago•3 min saved

NYC Pied-à-Terre Tax Targets Residency Fraud and Funds City Budget

New York City’s pied-à-terre tax on luxury second homes is being rolled out with an exemption process and potential state audits to deter residency fraud, targeting nonresident owners who claim NYC taxes aren’t owed; the tax applies to properties valued at least $5 million (and $1 million for condos/co-ops) with exemptions for certain ownership structures, and about 17,000 letters were sent to homeowners while roughly 2,600 exemption applications have been filed; the program could raise up to $500 million annually and requires exemptions by Sept. 18, with tax bills due Jan. 1.

via The City Reporter|

#local #new-york-city #pied-a-terre-tax

local22 days ago•2 min saved

Three California Powerball Tickets Hit About $800K Each

Three California Powerball tickets sold over the weekend were worth up to $809,204 each, with one near West Los Angeles-Sawtelle, another at a Pleasanton Shell, and a third at La Buena Market in Fresno County. The Aug. 1 drawing produced numbers 6, 17, 27, 48, 50 with Powerball 5, while the jackpot stood at $707 million; the next drawing is about $748 million. The article also notes that winnings are subject to taxes and explains lump-sum vs. annuity payout options and how they affect take-home amounts.

via FOX 11 Los Angeles|

#california #local #lottery

politics25 days ago•5 min saved

Newsom releases four years of tax returns as 2028 bid looms

California Gov. Gavin Newsom publicly released four years of tax returns, showing about $1.4–$1.6 million in annual income for him and his wife from 2022–2024, with a peak of $3.5 million in 2021 after selling a Marin County mansion. The filings—first since 2022—detail income from Newsom’s government salary, capital gains, a blind trust holding wine and hospitality ventures, and his wife’s film production and nonprofit work, with an effective federal tax rate around 30–35%. The disclosure comes as Newsom weighs a potential 2028 presidential bid and amid a Department of Justice inquiry into the Newsom family’s taxes; officials say the move followed a CalMatters inquiry and a later decision to release the records, which also show about $190,000 annually spent on household staff.

via Politico|

#california #gavin-newsom #politics

real-estate29 days ago•43 min saved

LeBron James weighs NYC home as Philly helicopter commute faces tax and ban hurdles

Fortune reports LeBron James is considering living in New York and commuting to the Philadelphia 76ers by helicopter, a move that would bring complex tax questions (pied-à-terre taxes and cross-state wage taxes) and potential clashes with NYC’s helicopter restrictions, even as his two-year, $8 million deal with Philly includes a major pay cut and could spur regional economic impact.

via Fortune|

#lebron-james #nba #new-york-city

politics1 month ago•11 min saved

Voters still in the dark on GOP tax law as midterms approach

A POLITICO/Public First poll finds nearly half of Americans can’t explain the One Big Beautiful Bill Act, and those who can often say it mostly benefits the wealthy rather than working families, underscoring Republicans’ messaging challenge as cost‑of‑living concerns dominate the midterm landscape.

via Politico|

#midterms #note-ensure-only-5-tags-adjust-to-five #politics