via Business Insider:
Louisiana Gov. Bobby Jindal is proposing the complete elimination of income and corporate taxes in the state, and says he wants to replace the revenue by increasing sales taxes.
The Times-Picayune reported that Jindal is in the process of fleshing out the tax reform proposal, the goal of which, according to a statement from the Governor’s office and given to the paper, “is to eliminate all personal income tax and all corporate income tax in a revenue neutral manner. We want to keep the sales tax as low and flat as possible.”
“Eliminating personal income taxes will put more money back into the pockets of Louisiana families and will change a complex tax code into a more simple system that will make Louisiana more attractive to companies who want to invest here and create jobs,” Jindal says in the statement.
“Tax reform will remove administrative burdens from families and small businesses and improve Louisiana’s business prospects; create more business investment opportunities with increased job growth; and raise the state’s profile in national business rankings,” the statement continues.
“The bottom line is that for too long, Louisiana’s workers and small businesses have suffered from having a state tax structure that is too complex and that holds back economic prosperity. It’s time to change that so people can keep more of their own money and foster an environment where businesses want to invest and create good-paying jobs.”
Jindal will meet with state legislators over the next few weeks to talk about the plan.
The Louisiana governor, who is also currently Chairman of the Republican Governors Association, is considered a likely presidential hopeful in 2016.
This story was originally published by The Daily Caller.
via Huffington Post:
Pamela Anderson is the lastest in a string of celebrities to find herself in trouble with the IRS.
The former “Baywatch” actress was hit with two tax liens totaling $371,514.65,reports TMZ.
According to the website, the 45-year-old owes the IRS $259,395.75 for unpaid taxes in 2011, and she also owes the State of California $112,118.90 in unpaid taxes for the same year.
As TMZ notes, this isn’t Anderson’s first run-in with the IRS. In 2010, she had another tax lien filed against her for $1.7 million in unpaid taxes.
Anderson joins other celebrities, including Stephen Baldwin and Lindsay Lohan, who are also in trouble for not coughing up cash to the government. On Dec. 6, Baldwin was charged with failing to pay New York state taxes for three years, amassing a $350,000 debt, while Lohan’s bank accounts have been seized by the IRS because she reportedly owes a total of $233,904.
via Chris Morran
One by one, the number of states where Amazon does not collect sales tax continues to shrink. New Jersey Governer Chris Christie has announced that the e-tail giant will not only begin collecting sales tax in the Garden State, but will also open a distribution center there.
According to the Newark Star-Ledger, Amazon won’t begin the collection of NJ sales taxes until July 1, 2013, so everyone in the state has a year to keep track of their Amazon purchases to make sure they are paying taxes on them when they file their return next spring.
Amazon and the state have already been in talks about working together to construct two 1.2 million sq. ft warehouses in NJ, most likely in the central New Jersey counties of Middlesex or Mercer.
“That’s OK, but it doesn’t mean a lot unless it actually happens,” said one skeptical lawmaker.
The New Jersey deal isn’t dissimilar to the one Amazon made with Texas. There, the company said it would make about $200 million worth of capital investments and create about 2,500 jobs.
Amazon.com to begin collecting sales tax on N.J. orders next year [NJ.com]
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