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Joliet Illinois online Form 8832: What You Should Know

The LATEST BUSINESS LAW NEWS and ECONOMIC ANALYSIS from Bloomberg Businessweek. Get “A Guide to Your Economic Future. “ The latest Business Law News from Bloomberg Businessweek. Get “Business Law News and Business Economics From the Biggest Business Lawyer. “ NEW YORK STATE TAX REFORM TAX PLAN RELEASED — JOHNSON CASH, LLP A Tax Reform Tax Plan (TOP) by Johnson & Johnson, LLP, the world's largest medical device company, in its latest filing with the NY State Department of Taxation (DOT) describes major proposals to: 1 — Simplify the state's tax code by limiting itemized deductions to items such as medical expenses, state and local taxes, and municipal income taxes. The company would pay the same federal tax rate on any business profit as it does on any profit from the sale of drugs. 2 — Allow tax-exempt organizations to deduct all their charitable giving, including contributions to the arts and education. Johnson & Johnson would only allow the same deductions for charitable giving as the company itself is allowed to take for business expenses that are not income. 3 — Allow nonprofit hospitals and nonprofits to pay state and local property taxes, not just those levied against their general fund. Johnson & Johnson would not have to pay these taxes on its foreign profits from subsidiaries. 4 — Allow more tax-efficient real estate transactions. Johnson & Johnson would have the same tax rate that it pays on its foreign income — even if it were earning these profits in a tax haven. 5 — Create a new 15% capital gains tax rate for investors. Investors would pay a tax rate of 15% on all capital gains regardless of the source of the investment. MUNICIPAL PROPERTY TAX PLAN — SCHNEIDER AFFILIATE Schneider Associates, Inc. (which includes its affiliate, SAA) is the largest property and casualty insurance company in the world. A recent report of SAA's financial performance and future financial projections indicates that the company expects to invest 8.5, 7.4 and 6 percent of sales respectively, of revenue in property and casualty insurance in the fiscal years 2024 through 2024. Schneider's proposed municipal property tax plan would not adversely impact on Schneider investors.

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