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Income Tax Brackets
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Senate Is Said to Seek More in Income Tax From Wealthy (New York Times)
The State Senate is said to be seeking income tax increases on affluent New Yorkers and a small sales tax increase to help balance the budget. Graduated Income Tax Could Replace Michigan Business Tax (Michigan Technology News)
LANSING - Already this year there have been a number of calls for Michigan to revamp its overall tax system, but major proposals to change the tax system are thus far lacking. There is one significant proposal, though, that has started working its way through legislators and interest groups: scrap the already hated Michigan Business Tax completely, and institute a graduated income tax. RPV housing project OK'd (Daily Breeze)
Contentious effort needs a $5 million federal tax credit to go ahead. Opponents rip plan to raise tax on cigarettes (The State Journal-Register)
Boosting the state cigarette tax will hurt lower-income consumers and send people to neighboring states to buy tobacco, industry representatives say. SIFE team members providing tax services (The Findlay Courier)
Volunteers from the University of Findlay will help ease the headaches of tax preparation this afternoon at the City Mission on West Main Cross Street. Rich Head for the Caymans When Tax Rates Go Up: Caroline Baum (Bloomberg)
March 16 (Bloomberg) -- Tax rates matter. Other things matter, too. UPDATE: Taiwan Committee Conducts Study On Capital Gains Tax (Nasdaq)
(Adds comments, background.) TAIPEI -(Dow Jones)- Taiwan is conducting a study on capital gains tax, the Ministry of Finance said in a statement Wednesday, but a high-ranking ministry official told Dow Jones Newswires there is no plan to introduce such a tax. Bear market can be bullish on capital gains (Bankrate.com via Yahoo! Finance)
If you own mutual funds, you could reap some capital gains distributions even in a down market. Those payouts could leave you with an unexpected tax bill. Quinn seeks income tax hike to help $11.5 billion budget deficit (Quincy Herald-Whig)
SPRINGFIELD, Ill. -- Gov. Pat Quinn said it will take a shared sacrifice to close an $11.5 billion state budget deficit. Quinn planned to ask legislators today to hike the state income tax by 50 percent, double the cigarette tax, add another $20 to annual license plate fees and increase other fees. ’08-’09 tax law changes for ag producers (The Daily Ardmoreite)
The April 15 deadline will soon be here. Along with the beginning of a new calendar year, we must begin summing up the events of the past tax year. The following are a few details on new provisions for the 2008 tax year that pertain to agricultural producers.
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