Tax

A random sample of 24 of 277 New Orleans hotels subject to the city's hotel tax found a total of $145,000 in unpaid taxes, including penalties and interest, over a three-month period in 2010.

Louisiana Gov. Bobby Jindal said last week that he will not use new taxes or fees to balance the fiscal 2012 budget despite a projected revenue shortfall of $1.6 billion.

An Alabama circuit court judge last week ruled unconstitutional an occupational and business license tax that provides a major source of income for Jefferson County's general fund budget. Commissioners are appealing the decision, the Birmingham News reported.

Facing more budget-balancing challenges in 2011, Colorado will issue $500 million of tax revenue anticipation notes Thursday to smooth cash flows in the coming year.

Putnam County, N.Y., executive-elect Vincent Leibell 3rd pleaded guilty Monday to obstruction of justice and tax evasion. It was unclear Monday who will run the county beginning on Jan. 1 when the long-time state politician would have taken office.

While federal lawmakers are nearing a compromise on tax legislation that would extend many expired and expiring tax provisions as well as the Bush-era tax cuts, it is not certain the measure will continue the popular Build America Bond program, sources said.

WASHINGTON — House members voted 234 to 188 Thursday for a bill that would extend lower- and middle-income tax cuts and make permanent two school bond-related provisions that were adopted in 2001 but are set to expire this year.

WASHINGTON — The Internal Revenue Service is auditing $147.5 million of auction-rate securities issued by the New Mexico Hospital Equipment Loan Council on behalf of the nonprofit Presbyterian Healthcare Service in 2004 and refunded in 2008.

Tennessee’s revenue collections for October rose 4.95% to $732.8 million from the same month last year.

DALLAS — Kansas state tax receipts in November failed to meet forecasters’ projections by a slim margin, but still posted a significant gain over year-ago collections.

DALLAS — Faced with recurring budget gaps, Arizona Gov. Jan Brewer is proposing a series of steps designed to improve the state economy, including budget cuts and financial incentives for business.

WASHINGTON — State revenue growth will not bounce back to pre-recession levels until 2013 or 2014, according to new data released Wednesday by the National Governors Association and the National Association of State Budget Officers.

WASHINGTON — Municipal market participants warned Wednesday that they would fight any attempts by Congress or the administration to do away with tax-exempt interest for all new municipal bonds.

The Internal Revenue Service is auditing $40.5 million of single-family housing bonds issued in 2003 by the Montana Board of Housing.

New York City Comptroller John Liu on Wednesday urged Congress to extend the taxable Build America Bond program.

The Internal Revenue Service yesterday released guidance clarifying that Jan. 1 is the deadline for issuers to receive tax benefits on “draw-down bonds” that are eligible for temporary bond programs, including Build America Bonds.

The Build America Bond program is likely to be extended for one year at something less than its current 35% federal interest cost subsidy level, due to the dynamics shaping up around the tax-cut extension Congress will consider when it returns after Thanksgiving.

The Pennsylvania Higher Education Assistance Agency disclosed Friday that it is complying with an additional information request from the Internal Revenue Service as part of the IRS’ ongoing review of the agency’s student-loan bonds.

New York is likely to impose a property tax cap next year but its effectiveness could depend on local decision-makers, according to a commentary published Monday by a government think tank.

New York is reaching out to retail investors with a website launched to coincide with a $1.1 billion personal income tax bond deal next week. The deal is the first to appear on the site, which went live last month, and with a glut of year-end issuance ­driving muni rates sharply higher ­recently, extra marketing couldn’t hurt.