State Income Tax

A counterpart to the biblical adage that the poor will always be with us is the notion that the rich will always be one tax hike away from leaving us. That's the foundation stone, after all, of the argument against raising taxes on "job creators" and...

SACRAMENTO — Gov. Jerry Brown's tax proposal is terrible public policy. Plain and simple. But it offers the only plausible path to rescuing California schools from more painful budget slashing. So it's not so simple. Politics is the art of the...

Under the Maryland Dream Act, students who want to attend our community colleges or public universities at the in-state tuition rate must have attended a Maryland high school for at least three years. They must prove that their families filed state income...

It's the kind of education news that never makes headlines: Dozens of teachers and principals from both charter and district-run schools across the Southland gathered last weekend at Loyola Marymount University to talk about what's working in their...

Mitt Romney made $13.7 million last year and paid $1.94 million in federal income taxes, giving him an effective tax rate of 14.1 percent, his campaign said Friday. His effective tax rate was up slightly from the 13.9 percent rate he paid in 2010. The...

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The Indiana Department of Revenue is blaming a programming error after state officials discovered approximately $206 million in local option income tax (LOIT) money was not distributed to 91 Indiana counties.  At a press conference Thursday, it was...

  Definition You may decide, after careful review, that the Roth IRA is a better retirement savings vehicle for you than a traditional IRA. If so, you should consider transferring funds from a traditional IRA to a Roth IRA. This can be accomplished by...

Q: Our condominium association paid 35 percent in federal income taxes last year even though we are a small association. The tax was on a capital gain we earned for a small investment that paid handsomely. Two accountants confirmed that we are liable...

Douglas Oberhelman is the most outspoken business leader in Illinois. As CEO of Peoria-based Caterpillar, he has placed himself — and the issue of Illinois' fiscal crisis — centerstage through a series of sharp-tongued op-eds bemoaning the...

Will they stay or will they go? Illinois lawmakers are fighting to keep the Chicago Mercantile Exchange’s in the Windy City, just a week after executives had meetings in Indiana. Thursday night Illinois legislators were able to reach a deal to...