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Government taxation and revenue
Republican divisions may hinder party's momentum
A string of unrelated events are highlighting divisions among Republicans just when they'd like to show a united front and take full advantage of President Barack Obama's latest political problems. Tensions between libertarian-leaning and more mainstream Republicans were on vivid display Tuesday as Sens. Rand Paul and John McCain clashed ...
GOP questions IRS scrutiny of anti-abortion groups
When a small anti-abortion group in Iowa sought nonprofit status, the IRS asked its board to promise not to organize protests outside Planned Parenthood and demanded to know how its prayer meetings and protest signs were educational. Although the Coalition for Life of Iowa's application was ultimately approved in 2009, ...
Apple case seen as possible spur to tax action
Now that tech darling Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take action to close loopholes or reform the law. At a hearing ...
Former IRS chief: Can't say how targeting happened
The man who led the Internal Revenue Service when it was giving extra scrutiny to tea party and other conservative groups seeking tax-exempt status told Congress on Tuesday that he knew little about what was happening while he was still commissioner. Douglas Shulman, who vacated his position last November when ...
JPMorgan Chase in Ohio sees tax credit approval
JPMorgan Chase & Co. is among several companies that have received approval for job creation tax credits in Ohio. The Ohio Tax Credit Authority on Monday approved assistance for 10 projects expected to create more than 1,100 jobs and retain more than 21,000 positions statewide. The tax credit body reviewed ...
Panel: Apple uses firms outside US to avoid taxes
Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. The world's most valuable company is holding overseas some $102 billion of its $145 billion in cash, and an Irish subsidiary that ...
Business Highlights
___ Yahoo takes big leap with $1.1 billion deal for Tumblr SAN FRANCISCO (AP) — Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet pioneer that had fallen behind the times. The deal announced Monday is Mayer's boldest move since ...
Court rules for Fannie, Freddie in Oakland lawsuit
A federal appeals court overturned a lower court ruling and threw out tax claims by Oakland County against the federally charted mortgage giants Fannie Mae and Freddie Mac. In an opinion released Monday, the U.S. 6th Circuit Court of Appeals in Cincinnati determined that Oakland County tried to "get around ...
Okla. House panel approves $40M for Indian museum
A plan to divert $40 million in use taxes over three years to help complete construction of an American Indian Cultural Center and Museum along the banks of the Oklahoma River has cleared a House committee. A House budget panel on Monday voted 13-10 for the measure, which would divert ...
Mich. disabled vets could see property tax relief
Some disabled veterans living in Michigan could get some relief next tax season under legislation being debated in the state Senate. Two different bills passed by the Senate Finance Committee last week have one aim: to provide property tax exemptions for veterans who are disabled as the result of their ...
Obama agenda marches on despite controversies
Despite Democratic fears, predictions of the demise of President Barack Obama's agenda appear exaggerated after a week of cascading controversies, political triage by the administration and party leaders in Congress and lack of evidence to date of wrongdoing close to the Oval Office. "Absolutely not," Steven Miller, the recently resigned ...
Mo. lawmakers pass budget patch for kids' program
Legislation passed in the closing hours of Missouri's annual session Friday could patch a hole in the state budget for early childhood programs and some health care initiatives. Legislators gave final approval to two measures, each of which would order the transfer $55 million of general revenues into a newly ...
A look at Mo. legislative action during 2013
The Missouri Legislature concluded work Friday on its 2013 session. Here's a look at what passed and what failed. WHAT PASSED: ABORTION Requires a physician to be present when administering the initial dose of an abortion-inducing drug. HB400. BENEVOLENT TAX CREDITS Reinstates expiring tax credits for certain charitable donations, such ...
Arkansas House speaker won't run for governor
House Speaker Davy Carter said Friday he won't run for Arkansas governor next year, passing on an uphill fight for the Republican nomination made steeper by his support for a health insurance expansion and comments urging his party to move away from social issues. "After much deliberation, I have decided ...
Embattled Scott trumpets drop in Fla. jobless rate
Florida Gov. Rick Scott — who has made his handling of the state's economy the main thrust of his re-election campaign — got more to boast about on Friday. The state's unemployment rate dropped to 7.2 percent in April — putting Florida below the national average for the second straight ...
Tea party group says IRS asked about Walker recall
A Texas tea party group said the Internal Revenue Service asked about its involvement in verifying signatures provided in the effort to recall Republican Gov. Scott Walker, of Wisconsin. IRS officials asked for extensive information about its activities, including an explanation of its involvement with Verify the Recall, which worked ...
Mich. Senate votes to extend health claims tax
A continuation of a 1 percent tax on health insurance claims passed the state Senate Thursday, but yet to be resolved is how to ensure the levy brings in enough revenue for Medicaid, which serves 1.9 million low-income Michigan residents. The tax, which took effect nearly 17 months ago and ...
Wash. state releases draft rules for legal pot
Officials in Washington state took their first stab at setting rules for the state's new marijuana industry Thursday, nearly eight months after voters here legalized pot for adults. Among the preliminary regulations: They want to track marijuana from "seed to store." They'd put a cap on the number of retail ...
Okla. Senate unveils $80M plan for 2 new museums
The Oklahoma Senate unveiled a new plan on Thursday to divert $80 million in state sales and use taxes over a four-year period to pay for the completion of an American Indian museum in Oklahoma City and build a new popular culture museum in Tulsa. A Senate budget committee approved ...
Medicaid expansion debate ahead in Illinois House
The Illinois House is gearing up to consider a key part of President Barack Obama's health care law, an expansion of Medicaid that would provide coverage to low-income adults who don't have children at home. House Democrats warn that failure to expand Medicaid would lead to unintended consequences: A Cook ...
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