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Income Taxes › Rebates

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Bowditch & Dewey

Is My State Tax Rebate Taxable?

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Along with twenty other states, Massachusetts made special payments to taxpayers in 2022. In Massachusetts, the rebate was the result of state law that returned excess state revenue to taxpayers. In California these payments...more

Bowditch & Dewey

Will You Receive a Massachusetts Tax Rebate?

Bowditch & Dewey on

Massachusetts taxpayers are about to get a tax rebate. That’s right. A tax rebate. Governor Charlie Baker announced that revenue collections in Fiscal Year 2022 far exceeded the annual tax revenue cap, thereby triggering a...more

Parker Poe Adams & Bernstein LLP

South Carolina Passes Targeted Tax Reform Legislation

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The South Carolina General Assembly passed tax reform legislation providing targeted relief to individuals and to manufacturers, including (i) a one-time rebate of up to $700 in 2021 taxes for individuals; (ii) cuts to the...more

McDermott Will & Emery

Weekly IRS Roundup April 10 – April 16, 2022

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 10, 2022 – April 16, 2022... April 11, 2022: The IRS issued a news release, reminding...more

McDermott Will & Emery

Weekly IRS Roundup April 5 – April 9, 2021

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Presented below is our summary of significant Internal Revenue Serve (IRS) guidance and relevant tax matters for the week of April 5, 2021 – April 9, 2021. Additionally, for continuing updates on the tax impact of COVID-19,...more

Foley & Lardner LLP

Property & Casualty Insurance Premium Refunds during COVID-19

Foley & Lardner LLP on

An unexpected issue faced by property & casualty insurers during the COVID-19 pandemic has been premium refunds to policyholders – especially on personal auto policies. The refunds and rebates are justified by substantial...more

Burr & Forman

South Carolina Issues Sales Tax Ruling Taxing Tobacco Rebates/Refunds

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The South Carolina Department of Revenue (DOR) has issued a proposed Revenue Ruling which will have a significant impact on South Carolina tobacco retailers, if finalized in its present form. The proposed Revenue Ruling, to...more

McDermott Will & Emery

[Event] West Coast Tax Forum: California & Beyond: The Impact Of State, Federal And International Tax Developments On Golden State...

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Tax professionals are on the frontlines, responding to state, federal and international tax developments that significantly impact business objectives. California taxpayers face particularly unique challenges. Join members...more

Dechert LLP

Financial Services Quarterly Report - Third Quarter 2019: Developments in the UK Tax Treatment of Fee Rebates and Trail...

Dechert LLP on

UK investment managers paying fee rebates, loyalty bonuses or similar payments to UK investors and certain non-UK investors in collective investment schemes should note recent case law developments regarding the tax treatment...more

Akin Gump Strauss Hauer & Feld LLP

Upper Tribunal Overturns Decision on Tax Treatment of Management Fee Rebates

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The Upper Tribunal (UT) has found that amounts paid by Hargreaves Lansdown (HL) (an investment platform service provider) to its customers, which represented rebates received from investment fund managers, were “annual...more

Hogan Lovells

Budget 2018

Hogan Lovells on

The 2018 tax proposals are projected to raise ZAR36 billion. The key changes announced are: Donations tax will increase to 25% in respect of any donations exceeding ZAR30 million. There have been no increases in the corporate...more

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