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Tax

NEWS
August 26, 2016
ISSUE | TRANSFER TAX Whether it's a levy or a fee, it's costly When I bought my home in Delaware County in 2009 and tried to deduct the transfer tax from my income tax, my accountant told me that it was not a "tax" but a "fee," and, therefore, not deductible ("Dodging taxes," Sunday). It sure felt like a tax. Being a peon, I had no choice but to pay it. It's just another thing that the "little people" have to pay - not like real-estate moguls, like a certain presidential candidate.
NEWS
August 26, 2016 | By Tricia L. Nadolny, Staff Writer
As Philadelphia prepares for the January launch of its tax on sweetened beverages, a new study found low-income residents in Berkeley, Calif., home of the nation's first "soda tax," are not just consuming fewer sugary drinks. They are making a healthy substitution - water. The study by University of California, Berkeley researchers found sugary drink consumption in low-income neighborhoods fell by 21 percent five months after the tax went into effect, while water consumption rose by 63 percent.
NEWS
August 20, 2016 | By Claudia Vargas, Staff Writer
Among the nation's largest cities, Philadelphia offers the most business tax breaks, forgoing more than $200 million a year in revenue as a result, a study by the Pew Charitable Trusts found. The report, released Thursday, looked at business tax incentives and exemptions between 2001 to 2003 and 2010 to 2012, the most recent complete set of tax data. It determined that between 2010 and 2012, the city forgave an average of $110 million annually in business incentives and $106 million in industry tax exemptions.
NEWS
August 19, 2016
MY FAMILY AND I have been mesmerized by the Summer Olympics. And to be honest, a few times, as we watched Michael Phelps win another gold medal or Simone Biles defy gravity, we thought, "This athlete is going to get paid!" Although it's true that some of the superb competitors see big paydays from their triumphs at the Olympics, many don't end up cashing in. But here's something else. When those who win get bonuses for their medals, the income is subject to U.S. income tax. The U.S. Olympic Committee gives winners $25,000 for a gold medal, $15,000 for a silver, and $10,000 for a bronze.
NEWS
August 6, 2016 | By Sarah Maiellano
 I've owned a home in Philadelphia for less than a year, and the city just tripled my property taxes. My husband, Joe, and I were both born and raised in Northeast Philly. We lived in Washington for 10 years after college. Last summer, we decided it was time to return home to the city where nearly everyone we love lives - the same city that was named the No. 1 destination in the United States by Lonely Planet and deemed "ready to show itself off to the world" by the New York Times.
NEWS
August 5, 2016
Mayor Kenney's campaign to pass a tax on sweetened beverages hinged on his proposal to spend $91 million annually to expand prekindergarten programs. But $300 million will be used to secure bonds to upgrade libraries, recreation centers, and other facilities, so the public must focus on how that money will be spent. Tough decisions on which facilities should be improved and which ones are too dilapidated or underused to save must be made. Those decisions should be devoid of the political considerations that can crop up when City Council members exercise their "prerogative" in development cases.
NEWS
August 4, 2016 | By Tricia L. Nadolny, Staff Writer
The American Beverage Association spent more than $10.6 million trying to fight off Mayor Kenney's tax on sweetened drinks, more than four times the amount spent by those supporting the tax, newly released lobbying reports show. The disclosures, filed with the Philadelphia Board of Ethics, also shed light on who funded the pro-tax effort. The list of two dozen backers includes two Philadelphia law firms, the regional Carpenters union, and the mayor's own political committee. Those supporting the tax spent about $2.5 million, according to the disclosure reports.
NEWS
August 3, 2016
ISSUE | ATLANTIC CITY No tax windfall The Casino Reinvestment Development Authority's property development mandate brings significant investment to Atlantic City. The lots we own, in terms of their current value, are insignificant to remediating the city's dire fiscal condition compared with CRDA's ability to assemble properties and leverage projects that create jobs and revenue for the city. CRDA-owned, nontaxable property cannot provide some windfall to the city. CRDA owns 111 acres, yet only 8.5 remain suitable for development.
NEWS
August 3, 2016 | By Claudia Vargas, Staff Writer
Editor's note: This story's online headline has been changed to reflect the correct amount of tax revenue. The city's coffers received an estimated $3 billion in tax revenue, $88 million more than expected, for fiscal year 2016. The added cash was a result of an increase in home sales and job growth, according to the city controller's monthly economic report, released Monday. The report looked at June and also at the full fiscal year, which ended June 30, and compared it with five years prior.
NEWS
August 3, 2016
With his presidential and vice presidential ambitions dashed for at least another four years, one might expect Gov. Christie to stop paying homage to political expediency and make a statesmanlike decision about raising New Jersey's gasoline tax. But he still can't find the high road. Highway projects from Newark to Cape May ground to a halt more than three weeks ago, when Christie, rather than agree to a gas tax hike to replenish the depleted Transportation Trust Fund, decided to stop all spending.
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