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Some of largest and most profitable companies in the US are primed to save billions of dollars from a congressional tax deal that critics say gives “billions in tax credits to the biggest corporations while giving pennies to middle-class children and families”. And private equity funds could be among the deal’s biggest beneficiaries, a Guardian analysis suggests.
JEFFERSON CITY, Mo. (AP) — Missouri residents could see a roughly $138 million tax break under legislation passed Thursday by the House in an attempt to offset a recent surge in local tax collections caused by higher vehicle values.
Some of the US’s most profitable corporations, including General Motors, Citigroup, and Netflix, have slashed their tax bills in the years since the passage of the Trump tax cuts, with nearly a quarter paying rates in the single digits and 23 paying nothing, a report has found.
A California prison inmate locked up on a gang-related murder conviction led a scheme that defrauded the U.S. government out of more than $550 million in Covid-era federal tax credits, prosecutors said. The inmate, Kristopher Thomas, was also charged with running a drug trafficking operation from his cell at Kern Valley State Prison that shipped large amounts of methamphetamine to several states and smuggled fentanyl into that prison, court filings show. Thomas' mother, 55-year-old Kettisha Thompson-Dozier, and her spouse, Charmane Dozier, 44, who both live in Waldorf, Maryland, were charged with him in the tax credit scheme, along with Sharon Vance, 36, of Hawthorne, California, according to prosecutors. All four defendants are charged in that case with conspiracy to defraud the government with respect to claims. Five other people were charged
Chancellor Jeremy Hunt faces the major decision of whether to cut National Insurance or income tax at the Spring Budget as he hopes to regain favour with voters and restless MPs.
ATLANTA (AP) — Separate gun bills passed by the Georgia House of Representatives Tuesday would provide a tax credit to pay for gun safety training and gun safes, while another would prohibit financial institutions from using a code to distinguish firearms retailers.
First-time homebuyers will get a tax break, while speculators are being targeted in new housing initiatives unveiled in B.C.’s 2024 budget.
The Canada Revenue Agency (CRA) has agreed to a request from the Saskatchewan government, naming the government as the province's natural gas distributor rather than SaskEnergy, a provincial Crown Corporation.