Wyoming taxation – Pilger Nebraska http://pilgernebraska.net/ Mon, 16 May 2022 15:02:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://pilgernebraska.net/wp-content/uploads/2021/10/icon-47-150x150.png Wyoming taxation – Pilger Nebraska http://pilgernebraska.net/ 32 32 In the United States, states struggle to replace tax revenues from fossil fuels https://pilgernebraska.net/in-the-united-states-states-struggle-to-replace-tax-revenues-from-fossil-fuels/ Mon, 16 May 2022 15:02:06 +0000 https://pilgernebraska.net/in-the-united-states-states-struggle-to-replace-tax-revenues-from-fossil-fuels/ May 16, 2022 By MORGAN LEE and MEAD GRUVER Associated Press SANTA FE, NM (AP) — Government budgets are booming in New Mexico: Teacher salaries are up, residents can go to state college tuition-free, mothers will get medical care for a year postpartum and criminal justice initiatives are funded to reduce urban violence. The reason […]]]>

May 16, 2022

By MORGAN LEE and MEAD GRUVER Associated Press

SANTA FE, NM (AP) — Government budgets are booming in New Mexico: Teacher salaries are up, residents can go to state college tuition-free, mothers will get medical care for a year postpartum and criminal justice initiatives are funded to reduce urban violence.

The reason behind the spending spree – oil. New Mexico is the second largest producer of crude oil among US states and the top recipient of US remittances for fossil fuel production on federal lands. But a budget filled with oil cash has a side effect: it also highlights how difficult it is to turn state rhetoric about fighting climate change into reality.

State governments in key regions of the country for oil, natural gas and coal production have by far the highest per capita reliance on fossil fuels – led by Wyoming, North Dakota, Alaska and the New Mexico. Revenue funds essential public services, from road maintenance to prisons. In Carlsbad, New Mexico, property taxes on oil infrastructure are securing a high school performing arts center, expanded sports facilities and elementary school renovations.

None of this would be possible without oil revenue, said schools superintendent Gerry Washburn.

“We can’t slow down on this and what we’re doing to fund schools until we have a legitimate replacement” for oil and natural gas revenue, he said. “Whether you’re in the middle of the oil patch or in an area with no oil and gas drilling, these policies will impact the revenue of every school district in the state.”

Federal, state and local governments receive about $138 billion a year from the fossil fuel industry, according to a study by nonpartisan Washington-based economics group Resources for the Future, which does not advocate energy policies. This equals the annual spending of New York State and Texas combined.

Cash flow is dominated by retail taxes on gasoline and diesel in each state, but energy-producing states are most dependent on fossil fuel revenues through a range of taxes, levies, rental and fee sales. Because these revenues help pay for government services, they tend to tax residents less, said Daniel Raimi, a fellow at Resources for the Future and co-author of the study.

“It’s a really tough dynamic if you’re thinking about moving away from fossil fuels,” he said. “They are going to be faced with the question: are we going to increase our taxes on our residents or do we have to reduce the level of services that we provide? »

In New Mexico, oil and gas make up 42% of state government revenue, a share rising amid war in Ukraine and record oil production in the Permian Basin that stretches across southeastern New Mexico and western Texas. Additional oil revenues are paid into a new interest-bearing trust for early childhood education.

Soaring fossil fuel industry profits have also given the Democratic-controlled New Mexico Legislature a chance to try to tackle the nation’s highest unemployment rate and the persistence of a high poverty. Lawmakers gave $1.1 billion in tax breaks and direct payments of up to $1,500 per household to offset inflation.

At the same time, lawmakers have balked this year over climate initiatives that could curb oil production. They rejected a bill to limit pollution linked to global warming in the production and distribution of transportation fuels, a measure taken by West Coast states. New Mexico also avoided a state constitutional amendment for the right to clean air.

Democratic Governor Michelle Lujan Grisham, re-elected in November, said her administration was working to contain methane pollution from oilfields and diversify the economy. New mandates provide for the production of electricity from solar, wind and other renewable sources. But she warned the federal government against deep restrictions on oil exploration and production, which are still the cornerstone of the state budget.

“We can work very effectively with oil and gas producers to meet clean energy standards…while managing some pretty incredible fossil fuel exploration to meet the world’s current energy demands,” the governor said in April.

Preserving revenue from oil, natural gas or coal production while acting on climate change can be especially tricky in blue states where Democrats often campaign to fight global warming.

Colorado Democratic Governor Jared Polis is pursuing an ambitious clean energy plan while trying to preserve $1 billion in annual tax revenue from oil and gas production. To justify air pollution restrictions, Polis cited real-time evidence of climate change, drought and fires.

But Polis, a wealthy tech entrepreneur, threatened last year to veto a proposal that could impose a per tonne emissions fee on polluters. William Toor, executive director of the governor’s Colorado Energy Office, said the state is not targeting fossil fuel production, only emissions from industry.

On the plains of northeastern Colorado, Weld County Commission Chairman Scott James said state regulations are stifling new drilling needed to support production and government revenues, especially for the schools. The county is centered on a vast oil field stretching from the Denver area to Wyoming and Nebraska.

“I agree with the overall mission to reduce greenhouse gases, but there is an environment that exists in the State Legislature that we have to electrify everything, we have to mandate it, we have to do now,” James said. “And these technologies are not ready for prime time yet. We just don’t have the capacity to do that.

Rural and economically isolated communities may have a harder time adjusting to a low-carbon economy, said Kristin Smith, a Montana-based Headwaters Economics researcher and economist who studies public finance in the Bakken oil region. in North Dakota. She anticipates “very difficult decisions” about cutting back areas such as public health care and the police.

Some major oil-producing states are moving forward with their climate programs.

Pennsylvania in April became the first major fossil fuel state to adopt a carbon pricing policy, joining an 11-state regional consortium that sets a falling price and limits on carbon dioxide emissions from power plants.

Democratic Gov. Tom Wolf’s move comes without the approval of the Republican-controlled legislature in the nation’s No. 2 state for natural gas production — and a major exporter of gas-generated electricity. A per-well drilling royalty on the booming Marcellus shale gas industry has rained cash on rural counties and municipalities for nearly a decade.

South of Pittsburgh, Washington County has raised more than $100 million over the past decade. That equates to $500 per capita – a “game changer,” said County Council Chairwoman Diana Irey Vaughan. The manna paid, among other things, for the improvement of parks and bridges.

Democratic State Representative Greg Vitali, an advocate for stronger action on climate change, said local governments dependent on gas drilling money will simply have to use traditional tools such as property taxes to make it out.

Republican-dominated Wyoming, the top coal-producing state, has bold goals to cut greenhouse gas emissions to below zero, even though fossil fuels make up more than half of its revenue.

This vision hinges on eventually capturing carbon dioxide from coal and gas-fired power plants and pumping it underground, possibly to increase oil production in aging fields in the center of the state. Wyoming leaders are also turning to alternative fuels like hydrogen and nuclear power, using reactors that produce less waste.

Meanwhile, a decade of declining coal demand has sapped government revenue. Republican Gov. Mark Gordon signed a coal tax cut in March, forgoing about $9 million a year to help the coal industry remain economically viable.

The state – one of only two that does not tax personal income, corporate income or gross receipts – must eventually come to terms with its dependence on fossil fuel money, said Jennifer Lowe, executive director of the Equality State Policy Center, a government watchdog group.

“At some point there is going to have to be a time for Jesus to come,” Lowe said.

___

Gruver reported from Cheyenne, Wyoming. Associated Press writers Jim Anderson in Denver and Marc Levy in Harrisburg, Pennsylvania, contributed to this report.

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Office of the Comptroller: Sales tax revenues increase due to inflation | Featured story https://pilgernebraska.net/office-of-the-comptroller-sales-tax-revenues-increase-due-to-inflation-featured-story/ Sat, 14 May 2022 04:15:00 +0000 https://pilgernebraska.net/office-of-the-comptroller-sales-tax-revenues-increase-due-to-inflation-featured-story/ BATAVIA — Sales tax revenue has increased so far this year in the GLOW region, according to the state comptroller’s office. The increase in income comes as residents, municipalities and businesses around the world try to cope with high levels of inflation affecting food, fuel, home heating and other aspects of daily life and Trade. […]]]>

BATAVIA — Sales tax revenue has increased so far this year in the GLOW region, according to the state comptroller’s office.

The increase in income comes as residents, municipalities and businesses around the world try to cope with high levels of inflation affecting food, fuel, home heating and other aspects of daily life and Trade.

“Local sales tax collections continue to be significant,” State Comptroller Thomas D. Napoli said in the April 29 report. are. With prices rising, we are closely monitoring the impact of the rate of inflation and economic volatility on New York’s economic recovery.

The study compared the first quarter period from January to March for 2021 and 2022.

Its findings included: not Genesee County led the GLOW region’s sales tax increases with 18.1% for the first quarter. It raised $12.4 million in 2022 compared to $10.5 million in 2021.

not Wyoming County sales tax revenue rose 13.5% in the first quarter. It raised $5.5 million in 2022 compared to $4.8 million in 2021.

not Orleans County sales tax revenue increased 7.8% in the first quarter. It raised $5.5 million in 2022 compared to $4.9 million in 2021.

not Livingston County sales tax revenue increased 8% in the first quarter. It raised $9.7 million in 2022 compared to $9 million in 2021.

not Broome County saw the largest statewide increase at 24.3% for the first quarter. It raised $44.5 million in 2022 compared to $35.8 million in 2021.

not Washington County saw the lowest statewide increase, at 7.5% for the first quarter. It raised $6.4 million in 2022 compared to $6 million in 2021.

not Year-over-year increases slowed or even reversed in March for most of the GLOW region.

Genesee County sales tax revenue increased 8.5% between March 2021 and March 2022. Wyoming County was unchanged with no increase or decrease.

Livingston County’s sales tax revenue has been shown to have decreased by 8.2%, while Orleans County has decreased by 7.5%.

The Comptroller’s Office study did not explain the decreases in more detail.

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Married NJ Pharmacy Owners Face Opioid Dispensing, Tax Charges https://pilgernebraska.net/married-nj-pharmacy-owners-face-opioid-dispensing-tax-charges/ Thu, 12 May 2022 20:05:21 +0000 https://pilgernebraska.net/married-nj-pharmacy-owners-face-opioid-dispensing-tax-charges/ TRENTON — A former pharmacist is charged with dispensing nearly 3 million oxycodone pills while her husband cooked the books to dodge taxes, New Jersey federal prosecutors said. Princeton Junction residents Florence Ndubizu, 62, and Gordian Ndubizu, 67, were arrested on Thursday. Federal prosecutors said all charges stemmed from their former pharmacy in Trenton, which […]]]>

TRENTON — A former pharmacist is charged with dispensing nearly 3 million oxycodone pills while her husband cooked the books to dodge taxes, New Jersey federal prosecutors said.

Princeton Junction residents Florence Ndubizu, 62, and Gordian Ndubizu, 67, were arrested on Thursday. Federal prosecutors said all charges stemmed from their former pharmacy in Trenton, which they operated as a “criminal enterprise.”

Healthcare Pharmacy distributed more than 2.7 million oxycodone tablets from 2014 to 2017, officials said. It ended when the DEA ordered the pharmacy to stop dispensing controlled substances on August 31, 2017, after 20 years of operation.

As the pharmacist in charge, prosecutors said Florence Ndubizu knowingly filled false prescriptions. Authorities believe she ordered employees to fill out fraudulent oxycodone scripts for cash-paying customers, including street-level drug dealers.

In 28 months, the Trenton pharmacy diverted more than 80,000 oxycodone tablets, prosecutors say. They add that Florence Ndubizu manipulated records to hide the discrepancy from state and federal authorities.

Macro of oxycodone opioid tablets

BackyardProduction

She is charged with three counts related to the distribution of controlled substances. The maximum aggregate sentence for these charges is 60 years in prison and a $2.5 million fine.

Her husband Gordian Ndubizu, an accounting professor at Drexel University, is accused of falsifying their tax returns. Prosecutors said he hid $3.3 million in pharmacy earnings to evade $1.3 million in taxes.

Authorities said that in an effort to reduce the pharmacy’s reported profits, Gordian Ndubizu had inflated the reported costs. He is accused of qualifying certain transfers as purchases of goods when the money instead went to personal bank accounts in Nigeria.

Gordian Ndubizu faces four counts of tax evasion and four counts of filing false tax returns. The combined maximum sentence for these charges is 32 years in prison and an $800,000 fine.

Rick Rickman is a reporter for New Jersey 101.5. You can reach him at richard.rickman@townsquaremedia.com

Click here to contact an editor about a comment or correction for this story.

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$78 million in taxes spent caring for feral horses in captivity; Out-of-reach pasture owner says his ranch is an ‘all-inclusive resort’ for horses https://pilgernebraska.net/78-million-in-taxes-spent-caring-for-feral-horses-in-captivity-out-of-reach-pasture-owner-says-his-ranch-is-an-all-inclusive-resort-for-horses/ Fri, 06 May 2022 05:13:00 +0000 https://pilgernebraska.net/78-million-in-taxes-spent-caring-for-feral-horses-in-captivity-out-of-reach-pasture-owner-says-his-ranch-is-an-all-inclusive-resort-for-horses/ MAXWELL, Neb. (CBS4) – In 2021, it cost federal taxpayers $78 million to care for nearly 60,000 wild horses and burros that were herded from the wild and moved to detention facilities operated by the Bureau of Land Management. Some horse advocates say it’s a waste of taxpayers’ money, but the BLM says it’s a […]]]>

MAXWELL, Neb. (CBS4) – In 2021, it cost federal taxpayers $78 million to care for nearly 60,000 wild horses and burros that were herded from the wild and moved to detention facilities operated by the Bureau of Land Management. Some horse advocates say it’s a waste of taxpayers’ money, but the BLM says it’s a necessary expense.

(credit: CBS)

So CBS4 requested a tour of one of dozens of private facilities across the United States that have federal contracts to hold feral horses long-term, to better understand how taxpayer dollars are spent on the program.

Since many out-of-reach pastures are privately owned, it’s unusual for the public to peek inside, making some horse advocates skeptical of the treatment.
But when CBS4 news cameras made a rare tour of a facility in Maxwell, Neb., in late April, the more than 900 horses moved there appeared healthy with plenty of room to roam. .

Harry Haythorn runs Maxwell’s Out of Reach Pasture, located about a four-hour drive northeast of Denver, just across the border between the Mountain and Central time zones. He says he is very proud and happy to take care of the horses.

“I like to call it an all-inclusive resort when they come here,” Haythorn said.

When the BLM rounds up horses from the wild, they are sent to short-term holding facilities, such as Cañon City in southern Colorado.

From there, many horses are adopted, but those that are not are sent to long-term holdings, such as Haythorn Ranch.

His ranch holds horses that have been rounded up from Colorado, Utah, Nevada, Idaho, California and Wyoming.

Haythorn’s family has operated a ranch in Nebraska since the 1800s. He used to raise cattle, but applied for a feral horse contract a few years ago because it was getting harder to make ends meet .

Now he’s been under contract for nearly two years, receiving $1 million a year from the federal government, and says it’s a “windfall.”

“It gives us a stable and regular income; this is by no means a get-rich-quick scheme,” Haythorn said. “It costs about $650-750,000 a year just to keep the lights on. I have a little debt that I have to pay, because I was trying to make this ranch work…so now you’re really getting closer to that million dollars. So, are we going to make money? Yes, we’re going to make money, but we’re not going to make a lot of money.

(credit: CBS)

In total, the BLM spent $112.273 million on its Wild Horse and Burro program in 2021.

Wild horse advocates say it’s a waste of taxpayers’ money to remove horses from the wild and place them in out-of-reach holding facilities, arguing that it costs nothing to feed the horses that remain wild and free on public lands.

“The overuse of taxpayer dollars here is deeply concerning, there is clearly a much more cost-effective way to manage these horses,” said Scott Wilson, wildlife photographer and American Wild Horse board member. Campaign.

Wilson says removing wild horses from the wild is an unnecessary and cruel practice. He believes that more aggressive birth control methods should be used for population control.

“Wild horses don’t have a voice, that’s why we need to speak up and defend their right to live and eat free on these lands,” Wilson said.

But John Neill, representative of the Office of Land Management’s off-range grazing contractor, says the levies are key to controlling the horse population, saying there aren’t enough resources on public lands to support the horses.

“Rangelands in the west are very sensitive, there’s a lack of moisture there, there’s severe drought all the time, and in drought conditions when there’s an overpopulation of animals, the animals lack food and water,” Neill said. “It’s a horrible way for these horses to have to live, having to walk miles and miles between their water source and then walk the same distance to get fodder again.”

But Wilson points out that the BLM allows ranchers to graze thousands of cattle and sheep on that same land.

“There are 30 times more cattle and sheep on this land set aside for the protection of our horses than there are horses,” Wilson said. “The cattle population must be reduced on these public lands in order to sustain and conserve horse populations for the future.”

Other feral horse advocates agree.

“The Bureau of Land Management’s Wild Horse and Burro program is a financial waste,” said Scott Beckstead of the Center for a Humane Economy. “The American taxpayer is cheated; this agency will spend tens of millions of dollars to remove wild horses and burros from our public lands to make way for cattle and sheep.

CBS4 asked Neill about these concerns.

(credit: CBS)

“BLM is a multi-purpose agency, we don’t just manage one resource like wild horses and donkeys, we are mandated to manage multiple resources; cattle grazing is one of those things,” Neill said. “The livestock is much easier to manage because these animals are domesticated, they are not there all year round. They’re only there during their grazing season, and they’re withdrawn. So they don’t impact the landscape all year round. These wild horses are just the opposite. They are not domesticated. We don’t have the ability to just go and move them from place to place. Thus, impacts with wild horses can be much more extreme.

The BLM is currently seeking more long-term pasture contracts and plans to remove an additional 20,000 feral horses and burros from wild public lands across the country this year.

This worries horse advocates, not only for the use of taxpayers’ money, but also for the welfare of the horses, saying that helicopter roundups that remove horses from the wild cause broken legs and fatal injuries.

And once horses are moved to holding facilities, they are at risk of contracting diseases that they would not otherwise face in the wild.

Just in the past two weeks at the Cañon City facility, 129 once feral horses have died from an outbreak of the equine influenza virus. At another short-term holding facility in Wheatland, Wyo., 11 horses died in two months from an equine disease commonly known as strangles.

Supporters say the outbreaks are emblematic of how the BLM fails federally protected wild horses.

Neill says the BLM is working hard to prevent outbreaks and deaths. To learn more about BLM’s comprehensive animal welfare program, click here.

“Our protocol is to make sure all of these animals are properly vaccinated with all major equine disease vaccines and dewormed,” Neill said. “We have contract veterinarians on staff at all of our facilities who are there, sometimes, daily or as needed, to examine the health of the herd and treat animals that may require any type of treatment needed. So, it is very well followed throughout our program.

At Haythorn Ranch, he says no outbreaks have yet occurred, but says a few horses have died since the start of his contract, with a fatality rate of less than 1%.

“I’ve had a few horses that died of wounds, and I’ve had a few that died of natural causes, one was old,” Haythorn said.

Haythorn says the BLM inspects his ranch once a month and his horses receive regular veterinary checkups. He also sends the horses’ excrement to the laboratories to ensure that the horses receive adequate nutrition.

(credit: CBS)

“I just want to do my best for this ranch, for this line and for these horses,” Haythorn said.

Haythorn, his wife, children and grandchildren all work at the ranch tending to the horses. He says they love them like family.

“We’re wired to take care of these animals, and I mean, it’s just in our DNA,” Haythorn said. “Does the man like to take care of these horses; They just give you a good feeling, and then I won’t need to hire a psychiatrist. It’s really cheap psychiatric care for me and my family, I know that.

CBS4 investigator Kati Weis digs deeper into the debate over cattle grazing on Colorado public land where wild horses roam. Look for his in-depth reporting on this aspect of the issue next week on CBS4 News.

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Massachusetts Taxpayers Will Get Tax Relief After All https://pilgernebraska.net/massachusetts-taxpayers-will-get-tax-relief-after-all/ Fri, 06 May 2022 04:19:41 +0000 https://pilgernebraska.net/massachusetts-taxpayers-will-get-tax-relief-after-all/ The Bronx cheers all around for the South Coast Massachusetts House delegation. Only Rep. Alan Silvia (D-Fall River) supported amendments to the House budget proposal that would have provided tax relief to renters and seniors and suspended the Commonwealth’s 24-cent-per-gallon gasoline tax until the end of the current economic crisis. Rep. Tony Cabral (D-New Bedford), […]]]>

The Bronx cheers all around for the South Coast Massachusetts House delegation. Only Rep. Alan Silvia (D-Fall River) supported amendments to the House budget proposal that would have provided tax relief to renters and seniors and suspended the Commonwealth’s 24-cent-per-gallon gasoline tax until the end of the current economic crisis.

Rep. Tony Cabral (D-New Bedford), Rep. Paul Schmid (D-Westport), Rep. Chris Hendricks (D-New Bedford), Rep. Bill Straus (D-Mattapoisett) and Rep. Carole Fiola (D-Fall River) voted against amendments to grant tax relief, even if the Commonwealth is swimming in the dough.

Massachusetts residents will get tax relief after all.

Office of Senator Mark Montigny

To his credit, Senator Mark Montigny (D-New Bedford) supports the temporary suspension of the gas tax.

Massachusetts residents will get tax relief after all.

Photo by State House Information Service

Governor Charlie Baker has pushed a $700 million tax relief package, citing massive budget surpluses, a huge injection of federal COVID cash and record inflation affecting many Massachusetts residents — but the legislative leadership of Beacon Hill has refused to budge, until now.

According to the State House News Service, the Massachusetts Department of Revenue reported that “tax collections last month were more than $3 billion more than what was collected in April 2021 and more than $2 billion more. dollars more than the DOR’s own monthly benchmark”.

Not only are we swimming in batter, but you can also float the entire Six Fleet in it.

It all became an embarrassment to lawmakers who finally realized they could no longer continue to deny relief to beleaguered taxpayers. Tax relief therefore appears to be underway.

Massachusetts residents will get tax relief after all.

State House News Service Photo

Massachusetts Senate Speaker Karen Spilka released a statement saying, “While details remain to be worked out, I believe we can safely balance targeted investments in a number of critical areas, such as housing, child care and higher education, with tax relief for individuals and families feeling the effects of inflation and continued economic disruption.”

Spilka promises to “pursue a tax relief package for residents before the end of the session”. The session traditionally ends at the end of June.

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Wyoming, Kent City asks voters for tax approvals on Tuesday – School News Network https://pilgernebraska.net/wyoming-kent-city-asks-voters-for-tax-approvals-on-tuesday-school-news-network/ Mon, 02 May 2022 13:42:52 +0000 https://pilgernebraska.net/wyoming-kent-city-asks-voters-for-tax-approvals-on-tuesday-school-news-network/ Wyoming, City of Kent – Voters in both constituencies will be asked to approve tax demands in the elections on Tuesday, May 3. In Wyoming, it’s a $24.9 million bond to pay for the renovation of Wyoming Junior High, while Kent City voters will be asked to renew non-family operating mileage and a fund depreciation […]]]>

Wyoming, City of Kent – Voters in both constituencies will be asked to approve tax demands in the elections on Tuesday, May 3. In Wyoming, it’s a $24.9 million bond to pay for the renovation of Wyoming Junior High, while Kent City voters will be asked to renew non-family operating mileage and a fund depreciation allowance for ongoing facility maintenance and site improvement. Neither request would increase current tax rates in either district.

Here is an overview of the two requests:

Wyoming Public Schools

Request: The district is asking for $24.9 million to renovate Wyoming Junior High to resemble the new Wyoming High School building. Officials say the new high school that opened in 2020 has improved students’ educational experience and they want to replicate that with improvements to the aging middle school, including the construction of a two-story addition. The approval would add about $11 million to renovations already planned by the district’s $79.5 million bond issue in 2017. The ballot language is broad, allowing the district to fund other projects if the project’s lower secondary does not cost as much as expected.

Cost: Debt mileage would remain at the same 5.65 mil level since 2016, as the district’s property value growth does not require the rate to be increased.

Details: Neighborhood Info Page

Narrative: Bond would finance the reconstruction of the college to reflect the high school

Kent City Community Schools

Request: The district is asking voters for five-year renewals of its non-family operating fund and its sinking fund, both of which expire this year. The operating mileage of 17.7881 mils is levied only on businesses, commercial and investment properties, vacation homes and rental properties, not principal residences. It is expected to bring in about $609,355 in revenue in 2023, or about 4% of the district’s budget. The 0.9783 mill sinking fund is expected to bring in about $242,911 in 2023 for building-related expenses, such as boiler work and floor resurfacing.

Cost: For the non-family operating mile, the owner of a non-family property worth $100,000 pays $1,780 in taxes. For the sinking fund, taxes cost about $98 on properties including primary residences worth $100,000. As renewals, none of the requests would increase the tax rate.

Details: Neighborhood Info Page

Narrative: Renewal of the operating and sinking fund on the ballot of May 3

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US auto dealers seeking LIFO tax relief get more support with Senate bill https://pilgernebraska.net/us-auto-dealers-seeking-lifo-tax-relief-get-more-support-with-senate-bill/ Thu, 28 Apr 2022 10:47:02 +0000 https://pilgernebraska.net/us-auto-dealers-seeking-lifo-tax-relief-get-more-support-with-senate-bill/ Brown’s action comes after U.S. Rep. Dan Kildee, D-Mich., introduced similar legislation in the House earlier this month. Kildee’s bill would allow dealers to wait until 2025 for their inventory to be replaced to determine income attributable to the sale of inventory in 2020 or 2021, giving dealers time to restock as the chip shortages […]]]>

Brown’s action comes after U.S. Rep. Dan Kildee, D-Mich., introduced similar legislation in the House earlier this month.

Kildee’s bill would allow dealers to wait until 2025 for their inventory to be replaced to determine income attributable to the sale of inventory in 2020 or 2021, giving dealers time to restock as the chip shortages ease and auto production returns to pre-pandemic levels.

His bill would allow those dealers to file amended tax returns or offset tax owing on future returns to claim relief, according to an analysis by NADA. He would also ask the Treasury Department to issue regulatory guidelines to allow dealers to calculate LIFO during the extended replacement period.

Kildee’s bill is supported by at least nine House Republicans and 10 Democrats, as well as NADA, the American International Automobile Dealers Association, the National Association of Minority Automobile Dealers, the Michigan Automobile Dealers Association and the American Institute of Certified Public Accountants.

NADA and the Automotive Innovation Alliance — along with some Senate Democrats led by Brown and a bipartisan group of U.S. Representatives led by Kildee — have previously urged the Treasury Department to provide temporary LIFO relief under the 473.

“Treasury has indicated that it does not want to do this, and so Congress is moving forward, showing leadership to provide the meaningful relief needed to respond to the global supply chain crisis and all the aftermath. issues it has created,” Paul Metrey, NADA’s senior vice president of regulatory affairs, said Automotive News this month.

For some dealerships, the LIFO clawback resulted in additional tax payments of $100,000 to $2 million or more, and those bills were due last week for dealerships structured as flow-through entities or C corporations.

Zach Doran, president of the Ohio Automobile Dealers Association, applauded Brown’s efforts to provide “stability to small businesses dealing with extremely depleted inventory.”

“Granting temporary LIFO relief due to these pandemic-related conditions will strengthen the automotive retail industry and protect investment and jobs in the local economies they serve,” Doran said.

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Child tax credit survey shows 79% of people spend money on food https://pilgernebraska.net/child-tax-credit-survey-shows-79-of-people-spend-money-on-food/ Tue, 19 Apr 2022 09:53:44 +0000 https://pilgernebraska.net/child-tax-credit-survey-shows-79-of-people-spend-money-on-food/ Koh Sze Kiat/Getty Images In 2021, the American Rescue Plan Act (ARP) dramatically expanded the Child Tax Credit (CTC) for one year, making it the largest U.S. child tax credit ever and providing most working families $3,000 per child under 18 and $3,600 per child six and under. See: 5 Best Foods to Buy in […]]]>

Koh Sze Kiat/Getty Images

In 2021, the American Rescue Plan Act (ARP) dramatically expanded the Child Tax Credit (CTC) for one year, making it the largest U.S. child tax credit ever and providing most working families $3,000 per child under 18 and $3,600 per child six and under.

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ARP also made the credit fully refundable and provided tax credit options for families to take half the credit in six monthly installments. Between July and December 2021, 39 million households with 65 million children – 88% of children in the United States – automatically received payments between $250 and $300.

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Using the Household Pulse Survey, a collaborative survey conducted with more than a dozen partners from leading federal agencies to study how the coronavirus pandemic has affected households across the United States of From a social and economic perspective, Quote Wizard analysts looked at how families spent their payments and how child tax credit spending patterns vary from state to state.

Overall results of spending on child tax credits

Unsurprisingly, most Americans surveyed spent their expanded child tax credit on food, clothing and housing. Seventy-nine percent of people used part of their credit to buy food, followed by 46% for clothing and 40% each for housing and utilities.

CTC recipients also spent money on vehicle and debt payments (26%), education (21%), childcare (16%), recreational goods (8%) , transportation (7%) and after-school programs (5%). Four percent of respondents said they invested some of their credit in savings and 2% used some of the credit to make a charitable donation.

Child Tax Credit Spending by State

Across all spending categories, the survey found that spending on child tax credits differs from state to state. For example, in the largest spending category, 96% of Alaskans spent their money on food, compared to 58% of Rhode Islanders.

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But 61% of Rhode Islanders spent money on housing, while only 23% of Marylanders did. Sixty-two percent of people in North Carolina and Oklahoma spent money on clothes, while only 31% did so in Wyoming.

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How Americans Spent the Child Tax Credit

Overall, most national respondents said they use their CTC money to pay off their debts (25%). 18% mostly spent it and 13% mostly saved it.

At the state level, Arizona had the most people contributing money to pay off existing debt (33%), Maine and Vermont had the most people saving money ( 21%) and Alaska had the highest number of most time spenders. tax credit (24%).

While monthly Child Tax Credit payments ended in December 2021, the other half of the money can be collected by filing 2021 taxes.

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About the Author

David Nadelle is a freelance editor and writer based in Ottawa, Canada. After working in the energy industry for 18 years, he decided to make a career change in 2016 and focus full-time on all aspects of writing. He recently completed a technical degree in communications and holds previous university degrees in journalism, sociology and criminology. David has covered a wide variety of financial and lifestyle topics for numerous publications and has experience writing for the retail industry.

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Report: Low-Tax States Grow Faster Than High-Tax States | National https://pilgernebraska.net/report-low-tax-states-grow-faster-than-high-tax-states-national/ Mon, 18 Apr 2022 15:22:00 +0000 https://pilgernebraska.net/report-low-tax-states-grow-faster-than-high-tax-states-national/ Country united states of americaUS Virgin IslandsU.S. Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, People’s Republic ofBarbadosBelarusBelgium, […]]]>

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On tax day, an extension may be better than a rushed declaration https://pilgernebraska.net/on-tax-day-an-extension-may-be-better-than-a-rushed-declaration/ Mon, 18 Apr 2022 09:40:00 +0000 https://pilgernebraska.net/on-tax-day-an-extension-may-be-better-than-a-rushed-declaration/ WASHINGTON (AP) — Monday is Tax Day — the federal deadline for personal tax filing and payments — and the IRS expects to receive tens of millions of last-minute returns by electronically and via paper forms. As of April 8, the IRS has received more than 103 million returns for this tax season and issued […]]]>

WASHINGTON (AP) — Monday is Tax Day — the federal deadline for personal tax filing and payments — and the IRS expects to receive tens of millions of last-minute returns by electronically and via paper forms.

As of April 8, the IRS has received more than 103 million returns for this tax season and issued more than 63 million refunds worth more than $204 billion.

By comparison, last year more than 169 million people filed a tax return before the end of the year. That likely leaves nearly 40% of this year’s taxpayers still missing, with many scrambling to submit their documents by Monday.

Nina Tross, executive director of the National Society of Tax Professionals, said if people haven’t filed their taxes yet, “they better file an extension.”

But, she added, “people don’t realize that filing for an extension has no effect” until they’ve paid their income taxes before tax day.

“An extension is simply filing a return at a later date,” Tross said. “If you rush into a return to get it out, and have to change it later, you’re more likely to get a double look from the IRS.”

“You’re much better off extending than amending,” she said.

The IRS faces its largest backlog in history this year. At the end of the 2021 filing season, the agency had 35.3 million returns awaiting processing. One reason is that every paper document that enters the IRS is processed by a human, according to the IRS.

Another is that the agency has administered massive relief programs related to the coronavirus pandemic in recent years, such as the Advanced Child Tax Credit.

And some forms are reviewed by IRS employees and treated as if they were submitted on paper, even though they are filed electronically.

This year will be one of the most difficult for the agency, with its record workforce. The IRS workforce is the same as it was in 1970, although the US population has grown exponentially and tax laws have become increasingly complicated.

Lisa Greene-Lewis, CPA and spokesperson for TurboTax, said if people were still planning on filing before tax day, “I’d put all your paperwork in one place so I wouldn’t forget nothing, like W -2s and 1099s.

Important documents such as “Letter 6419” which outlines child tax credit payments a taxpayer should have received this year and “Letter 6475” for stimulus payments should also be on hand.

Greene-Lewis, who has been doing taxes for more than 20 years, said “you want to report the exact amount you received so you don’t have to adjust your refund.”

Although the agency announced plans in March to hire at least 10,000 more workers to help process returns, administration officials say the IRS desperately needs more funding because its budget has grown. dropped over the past decade.

In a call with reporters, a senior Treasury official who spoke on condition of anonymity said the IRS backlog could be resolved with higher funding levels, the IRS budget. IRS having fallen by more than 15% in real terms.

The IRS has released helpful information and links for last-minute filers, emphasizing that “taxpayers should be careful to file a complete and accurate tax return. If a return contains errors or is incomplete, it may require further review.

Keith Kahn, director/president of the Delaware Society of CPAs, said he encourages everyone to file electronically.

When asked if CPAs would accept clients on Tax Day, Kahn said it’s common for people to be turned down. But for those who can get an appointment, “make sure you have everything you can provide for your CPA — there’s not a lot of time to strategize or ask questions.”

Copyright 2022 The Associated Press. All rights reserved.

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