Connecticut Truckers Grapple With New Highway Tax
With a new highway use tax set to taking effect with the new year, the trucking industry in Connecticut still has many questions about how to comply and who must pay the tax and is also floating the possibility of legal action.
Perspective: Tax Credits Available for Trucking
Clarus Solutions' Blake Baumann: "One solution to help ease some pressure in the trucking industry may lie in pursuing government tax incentive programs, such as the Work Opportunity Tax Credit."
Gas, Grocery Price Hikes Spur States to Pursue Tax Relief
Rapidly climbing inflation in the U.S. is accelerating calls from governors and state leaders to provide immediate tax relief to cash-strapped residents facing higher prices on everyday products such as gas, milk and electricity.
Raimondo Says CEOs More Reasonable on Taxes Than Lobbyists
Commerce Secretary Gina Raimondo made a fresh pitch for President Joe Biden’s plan to raise corporate taxes, saying lower rates have failed to have much impact and that the chief executive officers she speaks to privately are “much more reasonable” on taxes than the trade groups who are aggressively lobbying against increases.
JPMorgan Chase: Tax Refunds Often Reset Consumers’ Finances
Refunds have averaged $3,602, and amount to the biggest incoming cash flow day of the year for 29% of recipients, according to the institute’s study of bank and credit card customer data from 2015-17, before the 2017 Republican tax law took effect.
UPS Says New Tax Law Creates ‘Whack-a-Mole’ Game
U.S. multinationals face a “tricky situation” in trying to plot a tax strategy around the new base erosion and anti-abuse tax (BEAT) in the 2017 U.S. tax law, a UPS official said.
Opinion: Trucking Industry Supports Repeal of Federal Excise Tax
The American Truck Dealers’ top legislative priority is to repeal the federal excise tax, and truck dealers and automotive trade association executives will converge on Capitol Hill this month to support this important effort.
Ports, Railroads Tout Victories on the Tax Law to Their Industries
Like the trucking industry, the port authorities and Class I railroads believe the Tax Cuts and Jobs Act will benefit their modes of transportation, according to associations that represent them.
New Tax Law Will Compel Trucking Companies to Analyze How to Adjust Their Business Models
From large carriers to single-truck fleets, many in the industry are analyzing how the federal Tax Cuts and Jobs Act will impact their income and are formulating strategies to adapt to the new rules — including the possibility of restructuring their companies, accountants said.
Private Financing Tool Rejected in House Tax Bill
Tax breaks designed to help the private sector finance infrastructure projects were not included in a Republican tax overhaul bill President Donald Trump would consider by the end of the year.