Tax

A strong rebound in oil and gas production and broad economic growth is fueling record growth in sales tax revenue, Comptroller Glenn Hegar said.

The Silicon Valley city was planning to place a November ballot measure to raise money for transportation projects

Moody's shifted the outlook on RTA and CTA's $5 billion of debt as Chicago and Illinois outlooks stabilize

Though fires wreak havoc causing property damage and loss of life, the hit to local economies — and their bonds — tends to be ameliorated by state and federal funding.

Tax Reform 2.0 would make permanent the lower individual tax rates in last year’s Tax Cuts and Jobs Act that are scheduled to expire in 2025.

The plan for a second tax reform bill is galvanizing municipal market groups to step up lobbying efforts to tout the importance and benefits of munis to lawmakers on Capitol Hill.

House Judiciary Chairman Bob Goodlatte, R-Va., blasted the Supreme Court’s 5-4 decision in South Dakota v. Wayfair, Inc. as having “the potential to unleash chaos for consumers and remote sellers, particularly small business sellers.”

The 1.2-percentage point reduction will amount to $12,000 in saving on a $1 million tax settlement.

Tuesday’s House hearing will be chaired by Rep. Bob Goodlatte, R-Va., who was a steadfast supporter of the previous standard under which a remote seller had to have a physical presence in a state in order to be required to collect sales taxes.

The loss of the SALT deduction cost New Yorkers an additional $14.3 billion in 2018, state Attorney General Barbara Underwood told the Citizens Budget Commission.

George Callas most recently was senior tax counsel to House Speaker Paul Ryan and was a chief architect of the tax reform legislation enacted in December.

The study adds to the growing body of findings by think tanks and credit rating agencies that highlight the pitfalls states face when considering new taxes on e-cigarettes and marijuana because of the changing habits of American consumers.

California reported an $8.5 billion surplus in the budget passed last month.

An SEC advisory committee heard critics say the muni market is lacking in pre-trade price transparency and that hurts retail investors. But industry officials said MSRB rules have vastly improved muni market transparency.

State and local governments were advised Thursday to avoid imposing burdens on out-of-state e-commerce retailers that could spark a new round of litigation as they begin implementing the Supreme Court’s June 21 South Dakota v. Wayfair, Inc. ruling on sales taxes.

During a webinar Thursday moderated by the National League of Cities, officials pointed out that the South Dakota v. Wayfair, Inc. sales tax case has been remanded by the U.S. Supreme Court back to the South Dakota Supreme Court.

The firm is expanding its bond counsel practice in Virginia and the Southeast.

Congress might provide clarity by preventing states any state from imposing retroactive liability.

Membership in the Streamlined Sales Tax Governing Board is voluntary, but the Supreme Court ruling may serve as an impetus for more states and e-commerce retailers to join.

The tax would fund the voter-approved Medicaid expansion that was supposed to take effect July 2.