All posts tagged "Taxationandtaxes"

The Missouri Supreme Court on Tuesday struck down a 2022 law that banned people from sleeping on state-owned land and worried advocates that it would criminalize people experiencing homelessness. The state’s high court, in a unanimous decision, ruled that the law violated the state constitutional requirement that bills relate to a single subject, overturning a lower court’s ruling that upheld the law. The provision banning sleeping on state land was included in a sweeping bill that included a range of different policies, including county coroners, building codes and tax exemptions on World Cup......

NEW YORK — New construction in Manhattan slowed markedly in 2023, with just 21 building permits filed in the first half of the year, the lowest midyear total since 2010, according to a report obtained by the Daily News. Only 13 of the 21 permits were for multiple-dwelling buildings, even as the city experiences a housing supply shortage, the report by the Real Estate Board of New York found. The slowdown follows the expiration of a critical tax break for developers known as 421a. “We’re definitely seeing a pretty consistent deceleration in development,” said Keith DeCoster, the board’s Directo......

NEW YORK — The Trump Organization swapped out the lawyer for its jailed septuagenarian finance chief Allen Weisselberg because it was scared he would protect his interests over Donald Trump’s, sources told the New York Daily News on Thursday. Weisselberg, currently serving a five-month jail sentence on Rikers Island for tax fraud while head of the Trump Organization’s coffers, is no longer represented by Nicholas Gravante, a New York City defense lawyer Trump’s company was paying to defend him, two sources told the Daily News. After sentencing, prosecutors at the Manhattan DA’s office, who hav......

Raising taxes on the super wealthy is a hurdle that even the nation’s most left-leaning states have yet to overcome. But that hasn’t discouraged a coalition of Democratic California lawmakers from trying again. Assemblymember Alex Lee, a San Jose Democrat, has reintroduced a bill that would tax California’s billionaires at a rate of 1.5% starting in 2024. In 2026, those worth over $50 million would face a 1% tax. “For far too long we’ve allowed income inequality to deepen and fester in this state and in this country, where the rich get wealthier and the middle class shrinks and falls further b......

A gaping question remains to be answered following the House Ways and Means Committee’s decision to release Donald Trump’s tax returns: Why did the Internal Revenue Service fail to audit Trump’s taxes during the first two years of his presidency, as required by law? There’s a growing mountain of circumstantial evidence suggesting that Trump used political pressure and strategic appointments of loyalists to block IRS auditors from doing their job. If that’s the case, it would hardly be surprising, given Trump’s track record. But it would mean that someone, somewhere, violated the law, possibly ......

It seems like such good news — Social Security benefits are going up 8.7% next year, thanks to inflation. But for a lot of people, their tax bill could go up, too. That’s because tax rates on Social Security benefits are not changing with inflation. Taxing Social Security benefits began in 1984 as part of a sweeping reform of the system. It was intended to tax the wealthiest recipients. But over the years, as the annual cost of living increased, more and more people qualified for the tax. With next year’s benefits going up at their steepest levels in 42 years, more people will be taxed. “This ......