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Tax Notes reporter Andrew Velarde discusses the latest developments on the final regulations for claiming foreign tax credits, including the IRS’s decision to delay implementation and the tax community’s response.
ORDINANCE 2023-33 An ordinance of the City of Midlothian, Texas, amending the Code of Ordinances by amending Chapter 11 titled “Taxation” by amending Article 11.02 titled “Ad Valorem Taxes” by amending Division 2 titled “Exemptions”
The financial summary on this item specifically included an ad valorem tax rate of $0.650000 (M&O: $0.329455; I&S $0.320545) to generate $22,247,004
Both chambers made some progress on spending plans for fiscal 2024, though, as usual, not nearly enough to be able to make the Sept. 30 deadline.
Ryan Finley of Tax Notes provides an overview of amount B from pillar 1 of the OECD’s two-pillar corporate tax reform plan and discusses the fundamental dispute over it.