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TAX


U.S. stock futures edged lower Friday as some investors grew concerned that President-elect Joe Biden’s $1.9 trillion Covid-19 relief plan could lead to higher taxes. Futures tied to the S&P 500 fell 0.3%, indicating the benchmark index may decline for a second day. Contracts tied to the Nasdaq-100 edged less than 0.1% lower and those …

The United States Tennis Association is a nonprofit — but it’s a wealthy one. The organization, which organizes the prestigious U.S. Open tennis tournament and sells sponsorships to companies like Mercedes, Rolex and J.P. Morgan, generated more than $300 million in revenue, had more than $400 million in assets, and paid its top executive more …

Without the tax cut, beer brewers and most alcoholic-beverage producers would have been looking at a higher tax bill in January that would have either been forced upon customers or caused some brewers to close up shop. Distillers faced a 400 percent tax hike without the legislation. The tax cut reduced the amount that distilleries …

BROWN COUNTY, Wis. (WFRV) — When the Covid-19 Relief Bill was passed in December, tax relief was granted to local brewers. Language from the Craft Beverage Modernization and Tax Reform Act was included in the stimulus package. The latest Michigan news from WJMN Local 3 A bill was originally passed in 2017, cutting a federal …

Facebook Inc has moved to wind down several Irish holding companies that had allowed it to shift billions of dollars in profit to the country, where it was lightly taxed, the Times of London reported, citing company documents. The Irish companies were used to hold its intellectual property for international sales, and Facebook companies around …

An e-commerce company specializing in seasonal products that first started off housing items in a bathroom of an apartment nearly a decade ago will move the business to a warehouse in Deer Park and receive a nearly $660,000 tax break deal from the Babylon Industrial Development Agency. Smartbuy Direct Inc. will use a 62,000-square-foot property …

LINCOLN — Nebraska drivers will start the new year with a tax break. Starting Jan. 1, the state motor fuels tax will drop to 28.7 cents per gallon, according to the Nebraska Department of Revenue. That’s down 4.5 cents per gallon from the record high level of the last six months. The drop reflects a …

The craft-beer industry appears to have dodged a doubling of federal excise taxes thanks to a provision in Congress’ long-awaited COVID-19 relief bill. Buried within the almost-5,600-page bill is a permanent extension of the fermenters tax break, which applies to breweries, wineries and distillers. Both chambers of Congress voted to approve the $900 billion bill …

A bill that would revive New Jersey’s controversial tax incentive program aimed at attracting small and large businesses over the next six years was approved by two powerful state legislative committees Friday, just a few days after a deal was announced by lawmakers and Gov. Phil Murphy. The full state Senate and Assembly are expected …

President Donald Trump swept into office on the strength of his image as a real estate developer. Four years later, Trump leaves a housing record that includes the end of a contentious tax break for homeowners and a new direction for the federal agency overseeing mortgage giants Fannie Mae and Freddie Mac. One of Trump’s …