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Court allows execution of Corey Johnson to proceed after COVID-19 diagnosis

Posted Thu, January 14th, 2021 11:54 pm by Kalvis Golde The justices on Thursday night denied two last-minute appeals by Corey Johnson, who sought to postpone his execution so that he could recover from COVID-19, which he contracted in prison after spending most of his life on death row. Johnson also argued that he was […]

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Argument analysis: Justices doubt FTC’s authority to compel monetary relief

Posted Thu, January 14th, 2021 3:16 pm by Ronald Mann If you’re arguing on behalf of a federal regulatory agency’s authority to protect consumers from businesses and Justice Stephen Breyer sets his face against you, then chances are your day is not going well. But that is what happened Wednesday morning when Joel Marcus appeared […]

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Day 1 of OECD Consultation on International Tax Reform Blueprints

On Thursday, the Organisation for Economic Co-operation and Development (OECD) hosted the first of two days of a public consultation on changes to international corporate tax rules. The consultation is in the context of the Inclusive Framework on Base Erosion and Profit Shifting, which is made up of delegates from more than 135 countries and […]

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Integrated Tax Rates on Corporate Income in Europe

In most European OECD countries, corporate income is taxed twice, once at the entity level and once at the shareholder level. Before shareholders pay taxes, the business first faces the corporate income tax. A business pays corporate income tax on its profits; thus, when the shareholder pays their layer of tax they are doing so […]

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Justices are “in the process” of getting COVID vaccines; some have received both doses

Posted Wed, January 13th, 2021 9:17 pm by James Romoser Some Supreme Court justices, including Chief Justice John Roberts, have received both doses of the coronavirus vaccine, and the court says plans are in place for all nine justices to become fully vaccinated. Kathy Arberg, a spokesperson for the court, declined to say how many […]

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Double Taxation of Corporate Income in the United States and the OECD

Key Findings The Tax Cuts and Jobs Act lowered the top integrated tax rate on corporate income distributed as dividends from 56.33 percent in 2017 to 47.47 percent in 2020; the OECD average is 41.6 percent. Joe Biden’s proposal to increase the corporate income tax rate and to tax long-term capital gains and qualified dividends at […]

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Justices grant FDA request to block mail delivery of abortion pills

The Supreme Court on Tuesday granted a request from the Food and Drug Administration to reinstate a federal requirement that a pill used to induce abortion in the early stages of pregnancy be picked up in person from a health care provider. A federal district judge had suspended that requirement last summer because of the […]

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How Expensing for Capital Investment Can Accelerate the Transition to a Cleaner Economy

Key Findings Expensing for capital investments would increase new investment and capital stock turnover, supporting the replacement of old capital with more environmentally friendly structures, machinery, and equipment. Lowering the cost of investment would eliminate the tax bias against more capital-intensive energy efficiency improvement projects. Neutral cost recovery for structures would increase apartment building construction, […]

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Justices issue more orders from Friday’s conference, decline to fast-track election-related cases

Posted Mon, January 11th, 2021 2:10 pm by Amy Howe The Supreme Court on Monday morning issued more orders from the justices’ private conference last week. After adding 14 new cases to their docket for the term on Friday afternoon, the justices were not expected to grant review in additional cases on Monday – and […]

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The Drawbacks of State Taxes on Financial Transactions

Key Findings: A financial transaction tax (FTT) would raise transaction costs, which would result in a lower trading volume, lower liquidity, potentially increased volatility, and lower price of assets. Lower volume limits revenue potential, lower liquidity harms traders’ ability to buy and sell shares at the best price level, and increased volatility can increase risks. […]