When most people think about “business taxes,” the corporate income tax is usually the first that comes to mind. Corporate income taxes generate sizable tax burdens for businesses—especially at the federal level—but at the state level, the corporate income tax is just one of many taxes businesses pay. For many companies, state corporate tax burdens
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An IRS office building in the East Harlem neighborhood of New York. Timothy Fadek/Bloomberg via Getty Images Last December, two Atlanta tax professionals pled guilty to a scheme that defrauded the IRS of more than $250 million in taxes. The scam claimed more than $1.2 billion in fraudulent charitable deductions through so-called syndicated conservation easements,
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Dr. Kavita Patel warned that the longer people wait to get vaccinated, “the more it poses a risk down the line for even those of us who are vaccinated.” “It’s not just that vaccinations work, it’s that we have to vaccinate the whole world, and the more people that are unvaccinated or remain unvaccinated, the virus
One of Wall Street’s biggest bulls isn’t jumping on the growth stock bandwagon. Despite the tech-heavy Nasdaq‘s run to record highs, Credit Suisse’s Jonathan Golub prefers value trades right now. “The second quarter of this year will be the fastest GDP quarter that we had since 1952. So basically since the Marshall Plan and the
Former Theranos CEO Elizabeth Holmes attends pre-trial hearing in the U.S. government’s fraud case against her on May 5, 2021. CNBC The mystery of missing Theranos patient test results that allegedly showed a high failure rate was the focus of former CEO Elizabeth Holmes’ pre-trial hearing on Wednesday. Holmes, pregnant and expected to give birth
Olena Ruban | Moment | Getty Images Cannabis industry investors have been treated to a series of legislative catalysts over the last three years that have moved equity valuations. Notable moments include Canada’s federal adult-use implementation, the election of President Joe Biden, and the Georgia Senate run-off in January. Additionally, the state-by-state legalization movement is
Miami Herald | Tribune News Service | Getty Images There are no signs that Congress plans to send a fourth stimulus check to Americans. Still, many individuals and families are clamoring for more money. A Change.org petition calling for $2,000 per month for every adult American, as well as $1,000 per child, that was started
Today’s map focuses on states’ effective tax rates on owner-occupied housing. This is the average amount of residential property taxes actually paid, expressed as a percentage of home value. Because property taxes are tied to housing values, it makes sense that the actual dollar amounts of property taxes tend to be higher in places with
In this article TMHC The housing shortage that began before the pandemic will stick around for a long time as market demand soars, the chief executive of homebuilder Taylor Morrison told CNBC on Wednesday. “As the economy continues to improve, we’re going to see mortgage rates move up, and I think that should be expected. They’re not
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A couple enjoys aperitivo evening drinks sitting down at a bar as much of the country becomes a ‘yellow zone’, easing coronavirus disease (COVID-19) restrictions allowing bars and restaurants to serve clients at outdoor tables, in Venice, Italy, April 26, 2021. Manuel Silvestri | Reuters The World Health Organization is urging “extreme caution” against lifting
In this article DIDI PDD NIO FANG SAM A navigation map on the app of Chinese ride-hailing giant Didi is seen on a mobile phone in front of the app logo displayed in this illustration picture taken July 1, 2021. Florence Lo | Reuters Check out the companies making headlines in midday trading. Didi — The
Hedge fund founder Anthony Scaramucci told CNBC on Wednesday that the Chinese government’s crackdown on Didi Global, just days after the ride-hailing giant went public in the U.S., is “a direct assault on global capitalism.” “The bad news for the Chinese and the United States now is, if you’re a capital allocator in the United
fotosipsak | E+ | Getty Images Student loans are double-edged sword: They help you pay for college but then leave you with a monthly bill for at least a decade after you graduate. The average student loan payment is $400 a month, according to higher education expert Mark Kantrowitz. And research has found those payments
A for sale sign sits outside a house in Miami Beach October 22, 2009. Carlos Barria | Reuters Mortgage demand fell for the second week in a row, as low inventory and high home prices continue to weigh on the housing market. Mortgage applications decreased 1.8% last week, according to the Mortgage Bankers Association’s seasonally
Medics in a pneumonia ward in the Philippines. Ezra Acayan | Getty Images News | Getty Images LONDON — Mass vaccination campaigns are being rolled out across the developed world, but many countries are still contending with surges in coronavirus infections and new strains, such as the highly infectious delta variant. And now health experts
In this article BTC.CM= The Tether price displayed on cryptocurrency exchange Kraken’s website. Tiffany Hagler | Bloomberg via Getty Images Tether is the third-biggest cryptocurrency in the world by market value. And it’s got some economists — including an official at the U.S. Federal Reserve — worried. Last month, Boston Fed President Eric Rosengren raised
Peter Cade | Getty Images While inheriting money is typically a good thing, newer individual retirement account rules may leave some heirs with a smaller windfall. Thanks to the Secure Act of 2019, certain heirs now have less time to take IRA withdrawals. The law stopped the so-called stretch IRA, which allowed non-spouse beneficiaries to