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Withholding Taxes
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California Lawmakers Approve Contested Tax Increases (Update2) (Bloomberg)
Dec. 18 (Bloomberg) -- California lawmakers approved a plan that would raise $9.3 billion in taxes and fees to help ease the state’s record budget deficit, using a loophole Democrats said would avoid a required two-thirds vote. Gov. Tim Kaine wants to cut workers, raise cigarette taxes in Va. (BizJournals)
Virginia Gov. Tim Kaine spoke to General Assembly budget committees Tuesday to describe his plan to raise revenue and cut costs to match shrinking revenues. State Democrats push billions in higher taxes to fix deficit (Oakland Tribune)
Budget plan seeks to maneuver around two-thirds rule for raising taxes, but a legal challenge expected California Democrats to Seek Bypass on Budget Impasse (Bloomberg via Yahoo! News)
Dec. 18 (Bloomberg) -- California lawmakers are set to vote today on a plan to raise $9.3 billion in taxes to help ease the state’s record budget deficit, using a loophole Democrats say lets them get around a required two-thirds vote. Why do we have to pay income taxes? (The Vail Trail)
Why do we pay income taxes? I suppose there are altruists among us, those who, with a song in their in their hearts and a smile on their lips, happily pay taxes to support the common weal. Withholding Taxes on Interest (Mondaq)
In 2007, Canada introduced domestic legislation to eliminate the withholding tax on interest payments made after December 31, 2007 except with respect to interest payments to non-arm's length or related party lenders and with respect to interest that is computed by reference to sales, income, profits or cash flow of the debtor (so-called participating debt). BusinessNorth Exclusives City of Rice Lake wants payment in lieu of property taxes for new hospital (BusinessNorth)
“The (Lakeview Medical Center) Board gave away our community hospital,” Rice Lake resident Dan Lawler said in a recent testimony before the city council. “Our question is, when do we stop giving?” Governor vows to veto lawmakers' budget (San Francisco Chronicle)
Gov. Arnold Schwarzenegger promised to veto a budget deal approved Thursday by the state Legislature, saying the $18 billion package crafted by Democratic lawmakers would cut spending too little, raise taxes and fees too much and shortchange economic... Council Gives OK To Higher Property Taxes, Rebate Checks (NY1 News)
By a vote of 33 to 18, the city council Thursday raised the city's property tax rate by seven percent, adding an average of $118 to the property tax bill of single family homeowners. GlaxoSmithKline extends Genelabs acquisition offer (News-Medical-Net)
GlaxoSmithKline has announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Genelabs Technologies, Inc., for $1.30 in cash per share without interest and less any required withholding taxes, until 5:00 p.m. New York City time on Monday, December 29, 2008, unless the tender offer is further extended.
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