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Posts Tagged ‘TF’

  • Results of 9th Business Tax Climate Index

    Thursday 11th of October 2012 5:48:25 PM

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    Tax Foundation (TF) reports show that states not having one or more major statewide taxes such as corporate income tax, sales tax or personal income tax favor good result compared to states having those kinds of tax.

    States of Wyoming, South Dakota, Nevada, Alaska, Florida, New Hampshire, and Montana are included in the top ten list of the 9th State Business Tax Climate Index whereas Maryland, Iowa, Wisconsin, North Carolina, Minnesota, Rhode Island, Vermont, California, New Jersey, and New York placed at the bottom list.

    In the case of New York, even though it registered moderate corporate taxes, the state ranked bottom due to the records of being the worst individual income tax, 6th worst unemployment insurance tax, and 6th worst property tax.

    Tax Climate Index is being used by US taxpayers, business leaders, and government policymakers to determine the situation of each state tax system based from the TF comparative report.

    source: tax-news.com

  • TF Alarms The Situation of Estate Taxes

    Friday 14th of September 2012 12:39:36 AM

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    Tax Foundation (TF) released a statement that estate tax has contributed to the slow economic growth of United States. Below revenue margin accounted to the present level of estate tax by being the smallest source of US federal revenues today.

    In 2011, estate tax increased only by roughly 0.05%, whereas 2012 would show projections of increase by 0.42%. TF pointed out that taxpayers move in making charitable donations and using a ‘stepped up’ basis for asset valuations as their means to avoid estate taxes were seen reasons for its low tax returns.

    SOURCE: tax-news.com