REPORT: John Paulson May Move To Puerto Rico To Avoid A Gigantic Tax Bill
• Business InsiderAnother refugee looking to escape US taxes?
Contents Pages by Subject
TAXES: State
California: Remember the Taxes You Didn’t Owe? Surprise!
• by Wendy McElroy (Future of Freedom Foundation)Shortly before the Christmas holidays and oh so quietly, the California Franchise Tax Board retroactively rescinded with interest a tax break that dated back to 1993 that was intended to lure startup companies of under $50 million into the state.
The California tax that terrifies tech
• CNNEntrepreneurs and investors in California can expect a rude shock in the mail if they sold their company in the last 4 years. Not only did the state's Tax Board eliminate a tax break on capital gains, it announced the tax would be retroactive to 2008
The Pension Fund That Ate California
• .After spending years dogged by unpaid debts, California labor leader Charles Valdes filed for bankruptcy in the 1990s—twice. At the same time, he held one of the most influential positions in the American financial system: chair of the investment com
Sneaker tax? Illinois considers a 25-cent charge
• .The cost of a new pair of basketball shoes could jump by 25 cents under a proposal floated this week by an Illinois lawmaker. “Everywhere, funding is challenged,”Davis said. “I see it as a uniquely creative way of helping youth.”
The IRS takes a pound of flesh plus the tax on $15.01
Menckens GhostIt’s no mystery to me why such a government wants to ban guns. It’s for the same reason that mobsters don’t want the victims of their pillaging to be armed.
'Wall St.' flees NY for tax-free Fla.
• New York PostAn increasing number of financial firms, especially private equity and hedge funds, are fed up with New York’s sky-high city and state tax rates and are relocating to the business-friendly climate in Florida’s Palm Beach County.
The Taxman Looks to Speed Up Payments
• Technologyreview.comA disruptive electronic payment service wants to eliminate cash. Now Iowa’s government could give it a boost.
Amazon Sets Up (Really Big) Shop to Get You Your Stuff Faster
• Wired.comAcross the country, Amazon is erecting massive distribution centers in the nation’s exurbs to shorten the distance between online shoppers and the stuff they want.
Tiger Woods admits he left California because of high tax rates
• dailymail.co.ukTiger Woods said today that the reason he left California in the mid-Nineties was because the state's taxes were too high.
Mega-Rich Golfer Phil Mickelson Complains About His Tax Rate, Hints He Might Move Out Of California
• Business InsiderPhil Mickelson has set the golf world atwitter with comments about his tax rate.
Louisiana Governor Jindal proposes ending state income tax
• ReutersRepublican Governor Bobby Jindal said on Thursday he wants to eliminate all Louisiana personal and corporate income taxes to simplify the state's tax code and make it more friendly to business.
Why States May Want to Fall off the 'Cliff'
• ReutersFalling off the "fiscal cliff" is a bad thing, right? Not necessarily for some state governments that could begin collecting more in estate taxes on wealth left to heirs if the United States goes over the "cliff," allowing sharp tax increases and fed
State mulls pay-by-mile gas tax in response to fuel-efficient cars
• .Drivers of fuel-efficient cars are spending less at the pump, which means they are paying less in gas tax while driving the same amount of miles. So the state is a considering a pay-by- mile tax to even the playing field since as it stands now,
Who Pays For Sports Stadiums? [Infographic]
• popsci.comHint: the taxpayers. Deadspin breaks down how much the public is paying for sports.
Don't Roll Your Own Cigarettes in Michigan. It's Against the Law.
• Lew Rockwell blogOne heroic smoke shop owner in Michigan is now in the business of buying and selling rolling machines for customers who want to conduct their rolling at home.
Michigan Republicans consider tax breaks for fetuses
• Stephen C. Webster via RawStory.comMichigan Republicans held a hearing Tuesday to consider two bills that would offer tax breaks to any woman carrying a fetus that’s more than 12 weeks old.
States with the Highest (and Lowest) Taxes
• http://247wallst.com,During the 2010 tax season, Americans paid 9.9% of their income on state and local taxes.
Illinois County Looks to Balance Budget Through Gun Tax
• http://www.activistpost.com, Joe WrightIllinois has a history of taking a strong stance against guns, and remains the only state which does not allow concealed carry in some form.
Amazon to tax sales in Arizona
• Arizona RepublicOnline retail giant Amazon.com has agreed to collect sales tax on its Arizona transactions as part of a legal settlement that could pump millions of dollars each year into state coffers.
As toll cheating increases, Maryland does little to enforce rules
• Washington PostThousands of vehicles are repeatedly blowing through Maryland E-ZPass lanes without an E-ZPass transponder, and the state is doing little to collect the millions of dollars in unpaid tolls. One car-rental company owes the state nearly $209,000 in
Californians Face Rival Ballot Initiatives That Would Raise Taxes and Aid Schools
• New York TimesFirst came a competing save-our-schools ballot initiative, backed by a wealthy lawyer who proved more persistent than Gov. Jerry Brown had hoped. Then came a summer of minor financial embarrassments that handed Mr. Brown’s opponents a narrative to us
Virginia surplus will fund bonuses for state workers
• Washington PostAt a time when struggling states are cutting budgets and sending pink slips to workers, Virginia has something else in store: bonuses for state employees.
Bay Area Drivers Could Be Tracked By GPS, Taxed Per Mile Driven
• http://sanfrancisco.cbslocal.comBay Area drivers could one day be tracked using a GPS-like device in their cars and taxed per miles driven – a scenario which is part of a proposed long-range study aimed at finding ways to reduce traffic and pollution, while also raising revenues.
No good option for voters
• ..Georgia residents are finding themselves between the devil and the deep blue sea. They must choose whether to accept a pricey sales tax hike to fund transportation projects or face higher local taxes if they vote “no.”
Taxing online purchases
• Washington Post OpEdVirginia voted this year to close the so-called “Amazon loophole,” which allows the online retailer to avoid paying the same local sales taxes that brick-and-mortar establishments charge. California and Texas have taken steps to do the same.
With No Vote, Taxpayers Stuck With Tab on Bonds
• New York TimesSurprised local taxpayers from Stockton, Calif., to Scranton, Pa., are finding themselves obligated for parking garages, hockey arenas and other enterprises that can no longer pay their debts.
Taxing sugary drinks enough might nudge people to buy fewer Big Gulps.
• http://www.motherjones.com, By Maddie OatmanTaxing sugary drinks enough might nudge people to buy fewer Big Gulps.
North Dakota Votes To Eliminate All Property Tax
• http://govtslaves.info, Monica DaveySince Californians shrank their property taxes more than three decades ago by passing Proposition 13, people around the nation have echoed their dismay over such levies, putting forth plans to even them, simplify them, cap them, slash them.
North Dakota Considers Eliminating Property Tax
• New York TimesSince Californians shrank their property taxes more than three decades ago by passing Proposition 13, people around the nation have echoed their dismay over such levies, putting forth plans to even them, simplify them, cap them, slash them. In an ele
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