Latest National taxes News

2 New Mexico tribes closer to recreational cannabis sales

May. 20, 2022 11:44 AM EDT

SANTA FE, N.M. (AP) — Two New Mexico tribes have signed an agreement with state officials recognizing the tribe’s authority to collect taxes on sales of cannabis products. The move announced by state officials Thursday after it was signed last week further formalizes potential...

Netflix pays $59 million to settle tax dispute in Italy

May. 20, 2022 11:15 AM EDT

MILAN (AP) — Netflix has agreed to pay more than 55.8 million euros ($59 million) to settle a tax dispute, Milan prosecutors said Friday. The payment covers taxes, penalties and interest from October 2015 through 2019. The streaming service also established an Italian legal entity...

Former head of drainage district and wife convicted of fraud

May. 20, 2022 09:02 AM EDT

SEATTLE (AP) — The former commissioner of an East King County drainage district and his wife were convicted Thursday in federal court on charges that they stole tax dollars intended for flood control. A jury found Allan and Joann Thomas guilty of conspiracy, wire fraud, mail fraud...

Appeals court revives Arizona case on virus cash tax cut ban

May. 19, 2022 19:57 PM EDT

PHOENIX (AP) — A federal appeals court on Thursday revived Arizona’s lawsuit challenging the part of President Joe Biden’s massive coronavirus rescue law that bars states from using the federal money to offset tax cuts. The ruling by a three-judge panel of the 9th U.S. Circuit...

Families can begin applying on June 1 for new child rebate

May. 19, 2022 12:44 PM EDT

HARTFORD, Conn. (AP) — Eligible families can begin applying next month for Connecticut's new one-year child tax rebate program that's included in the newly revised state budget, Gov. Ned Lamont announced Thursday. Rebates of up to $250 per child are expected to be issued in late...

Pakistani rupee drops to record low amid talks with IMF

May. 19, 2022 09:07 AM EDT

ISLAMABAD (AP) — Pakistan’s currency plummeted to an all-time record low in intraday trading against the U.S. dollar on Thursday, amid uncertainty about the success of crucial talks between the International Monetary Fund and the government of Prime Minister Shahbaz Sharif who is considering...

AP Exclusive: Black Lives Matter has $42 million in assets

May. 17, 2022 12:57 PM EDT

NEW YORK (AP) — The foundation started by organizers of the Black Lives Matter movement is still worth tens of millions of dollars, after spending more than $37 million on grants, real estate, consultants, and other expenses, according to tax documents filed with the IRS. In a new,...

Phase-out of sales tax rejected by Senate panel

May. 16, 2022 18:54 PM EDT

BATON ROUGE, La. (AP) — A House-passed plan to phase out a temporary sales tax over the next three years was rejected Monday by a Senate committee. The 0.45% sales tax was approved in 2018 and is set to expire in 2025. Rep. Tony Bacala of Prairieville had proposed...

Yellen meets war refugees in Poland, pushes food crisis plan

May. 16, 2022 12:26 PM EDT

WARSAW, Poland (AP) — U.S. Treasury Secretary Janet Yellen on Monday met with Ukrainian refugees and urged the need to confront Russian brutality as she visited Poland ahead of a meeting of finance ministers for the Group of Seven leading economies. Yellen applauded Poland for...

In US, states struggle to replace fossil fuel tax revenue

May. 16, 2022 10:20 AM EDT

SANTA FE, N.M. (AP) — Government budgets are booming in New Mexico: Teacher salaries are up, residents can go to an in-state college tuition-free, moms will get medical care for a year after childbirth, and criminal justice initiatives are being funded to reduce urban violence. The...