Email Us! Facebook Facebook You Tube Join Now
(309) 663-6497

Tag Archives: tax

MILLIONAIREs’ TAX FALLS SHORT

A proposed Illinois state constitutional amendment to impose a 3% surtax on incomes over $1 million a year failed Thursday in the House. Three Democrats joined Republicans in voting no, as reported by IPR.

Posted in Agriculture News | Also tagged , | Comments closed

TAX DAY

The top 20% of taxpayers (making $134,300+) pay 83.9% of all federal income taxes. The three million people in the top 1% of earners pay nearly half the income tax, according to the Tax Policy Center.

Posted in Agriculture News | Also tagged , | Comments closed

Budget Address

Gov. Pat Quinn has prepared an election-year spending proposal that would make permanent the 5% state income tax rate set to expire in 2015 and couple it with property tax relief for homeowners. Full details at www.farmweeknow.com.

Posted in Agriculture News | Also tagged , | Comments closed

TAX EXTENDERS UPDATE

LaSalle Street News reports that market talk is circulating that the $1.00 blender credit for biodiesel will not make it through the lame duck session of Congress.

Posted in Agriculture News | Also tagged , | Comments closed

SODA TAX

A one cent-per-ounce soda tax won by a landslide in Berkeley, California.  But San Francisco voters nixed a 2 cent soda tax.

Posted in Agriculture News | Also tagged , , | Comments closed

CRP PAYMENTS AND SE TAXES

The Eighth Circuit U.S. Court of Appeals heard oral arguments in a landmark tax case last week that would not only set a precedent for absentee landowners with Conservation Reserve Program contracts, but could potentially redefine tax treatment of cash rents, conservation easements and other types of passive income if allowed to stand, farm managers… read more

Posted in Agriculture News | Also tagged , , , , | Comments closed

SODA TAX

 A new study of how taxes might be used to curb consumption of sugary drinks suggests that applying a tax based on the amount of calories contained in a serving rather than its size would be more effective.  Legislation to tax sugary drinks in Illinois failed during this year’s spring session.  

Posted in Agriculture News | Also tagged , | Comments closed

TAX EXTENDERS

The House Ways and Means Committee is expected to mark up a second wave of tax extenders on Thursday. Expiring provisions that are rumored to be on the list to be considered include several Farm Bureau supports, including an expanded deduction for donated food; an expanded deduction for conservation easements; and bonus depreciation including an… read more

Posted in Agriculture News | Also tagged , , , , | Comments closed

TAX EXTENDERS

The Senate on Tuesday voted 96 to 3 to invoke cloture on the motion to proceed with tax extender legislation. The Senate can now begin debate on H.R. 3474, the bill that will become the legislative vehicle for S. 2270, the Expiring Provisions Improvement Reform and Efficiency Act. Farm Bureau supports passage of the EXPIRE… read more

Posted in Agriculture News | Also tagged , , | Comments closed

NO MILLIONAIRES’ TAX

– House Speaker Michael Madigan has pulled the plug on his proposed constitutional amendment to impose a surcharge on incomes over $1 million a year.

Posted in Agriculture News | Tagged | Comments closed