New Jersey’s New Income Based ‘Equity’ Energy Rates Not Only Wrong, But Unconstitutional
TRENTON, NJ – The U.S. Constitution and the Bill of Rights might be above Governor Phil Murphy’s pay grade, but a new law that ties energy rates to a person’s income might…
Candidate for New Jersey Governor Says He Will Cut Income Tax for Veterans, Enact $2500 Property Tax Rebate
Joseph Rullo vows sweeping reforms for veterans in New Jersey governor bid TOMS RIVER, N.J. — Republican gubernatorial candidate Joseph Rullo has pledged to make veterans a top priority in his campaign,…
New Jersey Lawmakers Threaten Governor Murphy With Lawsuit Over Latest Income Tax Scam
TRENTON, N.J. – Republican members of the New Jersey Senate are threatening legal action against Governor Phil Murphy’s administration, alleging unconstitutional misuse of income tax revenue intended for property tax relief. In…
Bernie Sanders Calls for 100% Income Tax Hike, 25% National Tax
WASHINGTON, DC — U.S. Senator Bernie Sanders wants America to adopt a financial system equal to the country of Denmark where citizens pay 55.9% income tax and a 25% national sales tax.…
New Jersey Forcing Small Towns to Build Massive Low Income Housing Projects, While Giving Cities a Pass
TRENTON, NJ – New Jersey is forcing rural and suburban towns to build high-density development to accommodate a housing crisis, caused in part by the influx of hundreds of thousands of illegal…
Manalapan couple charged with six-figure theft for failure to report $4.5M in income
FREEHOLD, NJ — A Manalapan couple has been charged with conspiring to steal over $750,000 by failing to report nearly $4.5 million in taxable income over a five-year period, Monmouth County Prosecutor…
Philadelphia man charged in $1 million income tax refund scheme
A Philadelphia man has been charged with attempting to defraud the Pennsylvania Department of Revenue out of more than $1 million through a scheme involving stolen bank account information, Attorney General Michelle…
New Jersey Workers Would Benefit in Proposed Termination of Taxes of Tips
SEASIDE HEIGHTS, NJ – New Jersey workers could see immediate tax relief and more money in their pocket each day under a plan announced by former President Donald Trump to cease taxes…
Former Wise County man sentenced for income tax-related fraud
Kenneth Edward Jackson, 47, pleaded guilty to false statements on income tax return and was sentenced to 36 months in federal prison by U.S. District Judge Robert W. Schroeder, III on May…
New Jersey Law Helps Low Income Families Cope with Green Energy Price Hikes
Trenton, NJ – The Senate Environment and Energy Committee has taken a decisive step toward environmental justice and energy affordability for low-income and historically marginalized communities in New Jersey. Sponsored by Senator…
Brown & Brown’s Q4 profit jumps on robust growth in fee, investment income
(Reuters) – Insurance brokerage Brown & Brown reported an 85% surge in fourth-quarter profit to $268.6 million on Monday, helped by higher commissions and fees alongside better investment returns. The insurance industry…
Comerica forecasts weak interest income as deposit costs rise, loan growth slows
(Reuters) – Comerica on Friday forecast an 11% drop in its net interest income (NII) in 2024, as it pays more interest on deposits to keep customers from moving to other options,…
PNC Financial reports drop in net income
By Nupur Anand NEW YORK (Reuters) – PNC Financial Services Group’s net interest income shrank as it took on increased charges to replenish a government deposit insurance fund as well as workforce…
Malaysia exempts imposition of capital gains tax, taxes on foreign-sourced income on unit trusts
KUALA LUMPUR (Reuters) – Malaysia has exempted the imposition of capital gains tax and taxes on foreign-sourced income on unit trusts, its second finance minister said on Tuesday. The exemption on foreign-sourced…
Exclusive-Venezuela to receive 27% more income from PDVSA after sanctions easing-document
By Mayela Armas CARACAS (Reuters) – Venezuela’s government foresees a 27% increase in its income from state-run oil company PDVSA next year, according to a document seen by Reuters, after a relaxation…
Owners of Brooklyn Plumbing Company Indicted for Evading Taxes on More Than $10 Million in Income
An indictment was unsealed earlier today in federal court in Brooklyn charging Alexander Figliolia, Jr., and Kenneth Sutherland, the owners of Liberty Water & Sewer (Liberty Water), a Brooklyn-based plumbing company which…
U.S. bank profits slow on lower noninterest income, higher realized losses
By Pete Schroeder WASHINGTON (Reuters) – U.S. banks reported Wednesday a slowdown in profits in the third quarter of the year, as lower noninterest income and higher realized losses on bank investments…
Owner of Orange County Auto-Repair Businesses Pleads Guilty to Filing False Tax Returns that Omitted Nearly $3 Million in Income
SANTA ANA, California – The owner of three Orange County auto-repair businesses pleaded guilty today to a federal criminal charge for deliberately failing to report nearly $3 million in income to the…
Fed may need four years to recoup income loss, St. Louis Fed study says
By Michael S. Derby NEW YORK (Reuters) – The Federal Reserve will need nearly four more years to cover a historic operating loss and start sending profits again to the U.S. Treasury,…
GAM’s equity income teams to move to Jupiter
ZURICH (Reuters) – GAM will transfer the UK equity income fund to Jupiter along with two portfolio managers, the Swiss asset manager said on Monday. “There will be a seamless transition for…
Colombia court strikes down ban on deducting royalties from tax income
BOGOTA (Reuters) -Colombia’s Constitutional Court has struck down part of a law that prohibited extractive companies from deducting royalties paid to the government from their taxable income, benefiting businesses and dealing a…
Stocks to outperform fixed income in 2024, says Barclays
(Reuters) – Global equities are set to outperform core fixed-income assets next year, as threats of a global economic slowdown have declined, Barclays strategists said in a note on Thursday. They pointed…
Amplify rolls out first SOFR-based ETF for income seekers
By Suzanne McGee (Reuters) – Amplify Investments teamed up with the asset management division of Korean conglomerate Samsung to launch a new actively managed exchange traded fund (ETF) designed to deliver returns…
Potential for remittance income to be cut by AI, says Philippines finance minister
By Rodrigo Campos NEW YORK (Reuters) -Philippines Finance Minister Benjamin Diokno says there is potential that the remittances that help power the southeast Asian economy could be replaced by AI. Money earned…
Aflac beats estimates for quarterly profit on higher premium income
(Reuters) – Insurance provider Aflac on Wednesday reported third-quarter profit above estimates, helped by higher premium revenue from its U.S. unit and strong gains on its investments. Its U.S. unit earned net…
MetLife beats quarterly profit estimates on robust investment income
(Reuters) – MetLife on Wednesday reported a third-quarter profit that was above Wall Street expectations, as recovery in the U.S. markets boosted the insurer’s return from investments. Wall Street has rallied this…
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