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Sign up for online tax services and save time says Gov
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From the Tax Law Offices of David W Klasing - Negligence and Degrees (Categories) of Tax Evasion Explained
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Tax returns deadline extended
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A bill from a Bozeman Democrat that he said would create a more equitable tax system runs afoul of what the governor s office says is their legislative proposal to attract businesses to the state.
Rep. Jim Hamilton on Thursday introduced a bill to limit the state s capital gains tax credit. His bill would have the state s 2% capital gains credit taken against either their net capital gains or taxable income. The legislation would boost the state s revenues by about $2.7 million each year.
Under the current tax system, Hamilton said, if two people had the same taxable income, the person with capital gains would have a lower tax rate. He said that system was inequitable, and while he wants to see a larger overhaul of the state s system, his bill would be an improvement.
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Great expectations of common man
After the economic downturn due to COVID-19, Finance Minister- Nirmala Sitharaman has raised many hopes for everyone before presenting the 2021 Budget, on February 1. This time, the Union Budget will be crucial for everyone because of the COVID-19 pandemic chaos which took place in the life of everyone. During this pandemic, many people not in India but around the world went through financial crisis due to salary cuts, job losses, loss in businesses which led them to carry the burden of the financial crisis. This is the reason everyone is expecting something big from the Finance Minister with a hope to lowering tax cuts along with reducing other pandemic burdens. It is likely that FM may announce some big changes in the tax slab rates but the Wish list of a common man comprises great expectations.