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Tax

NEWS
July 31, 2014 | BY REGINA MEDINA, Daily News Staff Writer medinar@phillynews.com, 215-854-5985
WHEN HOUSE members return to Harrisburg on Monday to consider the cigarette-tax bill that would help fund Philly's schools, the legislation most likely will head to the Rules Committee, where it will be amended, a spokesman for the top Republican says. Members of the committee plan to remove Community Revitalization Improvement Zone grants and a hotel tax from the bill, said Steve Miskin, spokesman for House Majority Leader Mike Turzai, R-Allegheny. The $2-per-pack cigarette-tax bill would then be introduced on the floor for a vote.
NEWS
July 27, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
A lawsuit filed in New York last year by a then-Vanguard Group Inc. tax attorney, and unsealed Friday in state court in Manhattan, alleges that Vanguard, the nation's largest mutual fund company, has wrongly avoided paying federal and state income taxes since its creation in the 1970s. Vanguard "has operated as an illegal tax shelter for nearly 40 years, providing services to [its] funds at prices designed to avoid federal and state income tax, sheltering hundreds of millions of dollars of income annually, avoiding approximately $1 billion of U.S. federal income tax and at least $20 million of New York tax over the last 10 years," alleges the lawsuit, which was filed by David Danon of Wayne before he was terminated by Vanguard in 2013.
NEWS
July 22, 2014 | By Amy Worden, Inquirer Harrisburg Bureau
HARRISBURG - In a state that boasts one of the nation's richest rosters of historic buildings, the long-awaited historic-preservation tax-credit program has become a reality. Two years after Gov. Corbett signed a bill creating tax incentives for restoring older buildings, the first recipients have been named - among them three high-profile projects in Philadelphia. The Department of Community and Economic Development said Monday that it had awarded a total of $3 million in tax credits to 15 commercial projects in 10 counties, including, in Philadelphia, the redevelopment of the old Liberty Title & Trust building next to the Convention Center; the restoration of Park Towne Place Apartments on the Parkway; and the adaptive reuse of St. Peter's Episcopal Church in Germantown.
BUSINESS
July 21, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Along both branches of Pennsylvania's Brandywine Creek - in 24 hilly communities west of Philadelphia - about 37,000 acres have been marked off-limits to development. Part is public parkland; most is owned by private landowners who have given up development rights in exchange for lower property taxes and other incentives. The acreage covers nearly a quarter of the land in those communities, an area four times the size of Philadelphia's park system, including Fairmount Park . Is it enough?
NEWS
July 18, 2014 | BY SEAN COLLINS WALSH, Daily News Staff Writer walshSE@phillynews.com, 215-854-4172
THE COURT has spoken: There shall not be taxation with gyration. Ruling from the bench after a brief hearing, Common Pleas Judge Ellen Ceisler yesterday morning rejected the city's attempt to impose a tax on lap dances in strip clubs. Mayor Nutter's administration was appealing a decision by the Nutter-appointed Tax Review Board, which said the city's applying the amusement tax - 5 percent on admission charges - to lap dances at certain strip clubs was inappropriate. Ceisler sided with lawyers for the strip joints, who argued that they already pay the amusement tax on cover charges, that "interior activities" are not subject to the tax and that the city was applying the tax inconsistently.
NEWS
July 18, 2014 | By Troy Graham, Inquirer Staff Writer
For the second time, the Nutter administration has lost a bid to tax the money exotic dancers earn from giving "lap dances" - a move that could have cost three of Philadelphia's biggest strip clubs as much as $1.5 million. The administration first was rebuffed in October by the city's Tax Review Board, and on Wednesday, a Common Pleas Court judge upheld the board's decision. The city has 30 days to appeal the latest decision. City Solicitor Shelley R. Smith said she did not know whether an appeal would be filed.
BUSINESS
July 15, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Summer camp gives you a mental break. Sending your child to day camp might also provide a tax deduction. Local accounting firm Isdaner & Associates notes that day camp is a qualified expense under the child and dependent care credit, which is worth 20 percent of qualifying expenses (more if your adjusted gross income is less than $43,000), subject to a cap. For 2014, the maximum expenses allowed for the credit are $3,000 for one qualifying child and $6,000 for two or more. Be aware: overnight camp doesn't qualify for the credit.
NEWS
July 14, 2014 | By Paul Nussbaum, Inquirer Staff Writer
What do higher gasoline taxes pay for? In Washington, the question has taken on increased urgency as Congress looks for ways to keep the federal Highway Trust Fund from running out of money in 80 days. And in Southeastern Pennsylvania, answers are already coming in, as transportation planners add $11 billion for highway, bridge, and transit projects that will be paid for largely by higher state gas taxes. Sens. Bob Corker (R., Tenn.) and Chris Murphy (D., Conn.) have proposed raising the federal gasoline tax by 12 cents a gallon over two years and linking it to inflation.
NEWS
July 12, 2014
ISSUE | PA. BUDGET Bad tax habits An additional $2 tax per pack of cigarettes would be a huge mistake ("Endless summer," July 10). Such a tax would add more than $700 a year for a one-pack-a-day smoker. Yes, it would encourage some smokers to quit or reduce their habit. But most would suck it up; such is the addictive grip of smoking. Instead of enacting a more fair and equitable increase in the income tax, or even the sales tax, the smoking tax also would be highly regressive.
NEWS
July 12, 2014 | By Maddie Hanna, Inquirer Trenton Bureau
New Jersey officials on Thursday approved $260 million in tax credits for an Evesham-based power-plant supplier to build a manufacturing plant on the Camden waterfront. The deal for Holtec International, said to be one of the largest tax-credit awards ever granted by the state, is expected to create 235 jobs and retain 160, said the state Economic Development Authority. Erin Gold, an authority spokeswoman, said it was the state's understanding that the 160 jobs would be relocated from Evesham, where the company has its headquarters.
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