Category Archives: Tax Law

A Measured Approach to Income Tax Relief in Minnesota

The tax reform debate is heating up in Minnesota. Governor Mark Dayton (DFL) released his proposal several weeks ago, but Republicans have criticized the plan. Criticism picked up particularly after the Department of Revenue released an incidence report that shows the governor’s tax proposal combined with his proposal to extend the MinnesotaCare 2 percent provider tax would raise the tax burden on all Minnesotans.  Though Republicans haven’t released comprehensive tax reform legislation this session, Senator Roger Chamberlain (R), chair of the Taxes Committee, has introduced SF 4010, which would eventually reduce the corporate income tax rate and individual income tax rates by 1 percent. Minnesota currently levies the fourth highest top individual income tax rate at 9.85 percent, and the third highest corporate income tax rate at 9.8 percent. Senator Chamberlain’s bill uses tax triggers to gradually reduce the rates. SF 4010 specifies that if revenues….. To continue reading this legal news please click Read full information...

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Uh-Oh…Butch Clicked On It

In late March 2018, Idaho Governor, Butch Otter officially signed into law a house bill that will require all out of state or remote retailers to collect and remit sales and use tax. This is only applicable to out of state retails that generate over $10,000 dollars through their Idaho affiliates. Idaho is one of […].. To continue reading this legal news please click Read full information...

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Youtube videos in which I discuss inequality

NYU Law School has now posted three Youtube videos (each just over a minute long) in which I discuss inequality.In the first one, available here, I discuss the differences between high-end and low-end inequality.In the second, available here, I discuss high-end inequality and luck.In the third, available here, I discuss the extent to which U.S. efforts to address income inequality have succeeded (or not)... To continue reading this legal news please click Read full information...

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Tax Deadline Extended One Day for IRS Purposes

The IRS announced late today that due to the computer issues with IRS Direct Pay and the IRS e-filing systems, that individuals and businesses with a tax deadline of today (April 17th) have an extra day, until midnight, April 18th. Here is the IRS announcement: WASHINGTON — The Internal Revenue Service announced today that it is providing taxpayers an additional day to file and pay their taxes following system issues that surfaced early on the April 17 tax deadline. Individuals and businesses with a filing or payment due date of April 17 will now have until midnight on Wednesday, April 18. Taxpayers do not need to do anything to receive this extra time. The IRS encountered system issues Tuesday morning. Throughout the system outage, taxpayers were still able to file their tax returns electronically through their software providers and Free File. Taxpayers using paper to file and pay their taxes at the deadline were not affected by the system issue. “This is the….. To continue reading this legal news please click Read full information...

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Wisconsin Issues New Publication on Tax Incentives

The state of Wisconsin has just issued a new publication outlining tax incentives. The publication contains tax incentives that may be available to businesses that are doing business in Wisconsin for taxable years beginning in 2017. This publication reflects the department’s position concerning laws enacted by the Wisconsin Legislature effective on December 31, 2017. It […].. To continue reading this legal news please click Read full information...

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