Taxes (page 220)

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    House budget, first look

    Live Blog House Appropriations subcommittees started debate yesterday on the specifics what it means to balance the budget in a pro-family, pro-growth way. Proposed savings in primary and secondary education of $694 million are midway between Gov. Perdue's $351 million and the John Locke Foundation's $1 billion. Community College…
    Joseph Coletti, April 13, 2011
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    Tax Foundation expert targets aggressive state tax practices

    A day after commemorating Tax Freedom Day, the Tax Foundation’s Joseph Henchman heads to Capitol Hill this afternoon to testify in connection with a bill targeting “aggressive” state tax practices. Here are some highlights from Henchman’s upcoming testimony on the Business Activity Tax Simplification Act: About half the states now assert "economic nexus" in corporate taxation, claiming the power to tax corporations with no property or employees in the state. Six states have adopted aggressive sales tax stands, including Arkansas earlier this month. These trends result from states' incentive to shift tax burdens from physically present individuals and businesses to those who are beyond their borders. Recent examples have included door-to-door salesmen, credit card companies, franchised fast food operations, cell phone providers, online travel companies, car rental companies, and affiliate- and franchise-based operations. Businesses must consequently deal with: Complex tax statutes Uncertainty about what activities create tax obligations in different states Lack of uniformity between different states in tax rules and formulas Generally, wasting significant time, wealth, and brainpower navigating tax compliance rather than doing more productive things.
    Mitch Kokai, April 13, 2011
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    ObamaCare Exchange Update

    Live Blog Rep. Jerry Dockham is the primary sponsor of HB115, to establish a needless ObamaCare Exchange in North Carolina, but his answers in the House Insurance Committee today are worrisome for those who want to limit government intervention. A sampling: Dockham does not…
    Joseph Coletti, April 12, 2011
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    Samuelson: "Obama urges an ‘adult’ conversation and acts like a child"

    Live Blog Robert Samuelson's latest column is worth reading in its entirety, but his description of President Barack Obama is particularly noteworthy.
    Joseph Coletti, April 12, 2011
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    Happy national Tax Freedom Day … with an asterisk

    The Tax Foundation says North Carolina reached Tax Freedom Day April 6. Today marks national Tax Freedom Day. This means the average taxpayer has worked long enough to pay his tax bills and now can turn his attention to working to meet other needs: food, clothing, shelter, and…
    Mitch Kokai, April 12, 2011
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    Amazon Tax trickles in

    Live Blog A Wall Street Journal editorial answers the question of how much money the Amazon Tax raised for North Carolina: $4.6 million as of January. The tax was supposed to bring in $35.9 million in FY2009-10 and FY2010-11, or roughly $12 million every six months. Before…
    Joseph Coletti, April 11, 2011
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    This weekend on Carolina Journal Radio

    As county governments search for ways to pay their bills during tight economic times, some are looking at raising the local sales tax. Michael Sanera discusses the likelihood of future local sales tax increases during the next edition of Carolina Journal Radio. Joseph Coletti explains why North Carolina…
    Mitch Kokai, April 8, 2011
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    Barone discusses Ryan’s federal budget ideas

    Michael Barone‘s latest column focuses on the plans U.S. Rep. Paul Ryan, R-Wis., has put forward to put the federal budget back on the right track: “This is the most predictable crisis in the history of our country,” he went on. “We…
    Mitch Kokai, April 7, 2011