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A tax-exempt organization is a business entity that does not have to pay federal income taxes. Nonprofits, which reinvest earnings to support their mission, are eligible to receive tax-exempt status.
The Small Business Jobs Act of 2010 exempted taxes on capital gains for angel and venture capital investors on small business stock investments if held for 5 years. It was a temporary measure but was extended through 2011 by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 as a jobs stimulus.
Accounting for production spending going to in-state people and businesses versus out-of-state people and businesses, the film tax credit program resulted in $32.6 million in new spending for the Massachusetts economy. The film tax incentive program generated additional Massachusetts state GDP of $168.5 million and personal income of $25.2 million.
Gas taxes were raised 4.3 cents per gallon. The taxable portion of Social Security benefits were also increased. Clinton signed the Small Business Job Protection Act of 1996, which reduced taxes for many small businesses. Furthermore, he signed legislation that increased the tax deduction for self-employed business owners from 30% to 80% by 1997.
What is a per capita tax bill? Better known as a head tax, basically a flat rate local tax of $10 a year payable by adults residing in a township, according to Berkheimer.
The tax credit was expanded again during the state budget negotiations in summer 2016. $65 million will be available for fiscal year 2017-18. [6] The tax credit brought the production of Zack and Miri Make a Porno, The Road, Shelter, Shannon's Rainbow, Sorority Row, and She's Out of My League to the Pittsburgh region in 2008 and 2009. [7]
The $600,000 estate tax exemption was to increase gradually to $1 million by the year 2006. As inherited assets are automatically revalued to their current or "stepped-up" basis, any capital gains are permanently exempted from taxation. Family farms and small businesses could qualify for an exemption of $1.3 million, effective 1998. Starting in ...
Map of average income by location in Pennsylvania from the 2014 American Community Survey five-year estimate. Outside of the Philadelphia, Pittsburgh, and Harrisburg metropolitan areas, Pennsylvania is a relatively poorer state, especially in the northern areas and the Appalachian Mountains; only 22% of Pennsylvania places have per capita incomes higher than the national per capita income, and ...