Currently, 80 percent of the bonds issued in China are backed by State credit and most of the rest come from large companies that have AAA or AA ratings.
The union message was also as clever as it was disingenuous: All of these taxes will be paid by someone else, such as Wall Street bankers, out-of-state credit card companies, CEOs.
Meanwhile, the state approved a new state tax credit but didn't have the forms ready.
This means that as EGTRRA phased out the federal state death tax credit, it also decreased state revenues.
FORBES: For "Conforming States," State Death Taxes Will Rise When EGTRRA "Sunsets"
For one thing, Beijing is funneling state cash to state businesses, and state financial institutions are diverting credit to state-sponsored infrastructure.
Although Mark will be entitled to a credit towards the basic state pension, that credit does not count towards the S2P.
Without a state death tax credit, the formula used by many states was meaningless, so there was no actual state estate tax payable.
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This means that Wisconsin imposes a state estate tax up to the current federal credit for state death taxes.
The country's economy at this moment is built around free-flowing credit to state enterprises and local governments, and that credit comes from these intermediaries.
Two more lenders issued warnings about the state of the credit markets late yesterday.
At least one senior Republican strategist in the state gave Obama credit for the choice of venue.
We're moving from private banks to state control of credit, where we meet in the middle someplace.
This morning, we sent draft legislation to Congress on this fund, which now includes a new state small business credit initiative.
Until 2001 most states limited their estate tax to the "state death tax credit"--a part of the federal estate tax ceded to the states.
The second initiative is a new state small business credit program that we recently proposed, working with governors like Governor Doyle and Governor Granholm.
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Then at the last minute, a provision was added to the Bush tax cuts that gradually phased out the state death tax credit, so by 2005, the feds got to keep all the revenue.
FORBES: States Face $3 Billion Estate Tax Windfall If We Fall Off Fiscal Cliff
Conforming states would love to rewind the clock to a time prior to the 2002 through 2004 phase out of the federal state death tax credit, and prior to the 2005 elimination of that credit.
FORBES: For "Conforming States," State Death Taxes Will Rise When EGTRRA "Sunsets"
If Congress does nothing, the federal estate tax law reverts to pre-2001 parameters, including an obscure provision known as the state death tax credit that allows states to share in estate tax revenue the Treasury collects.
FORBES: States Face $3 Billion Estate Tax Windfall If We Fall Off Fiscal Cliff
Congress could have brought back a federal credit for state death taxes, but it chose not to.
To date, however, the banking system has shortchanged depositors so that it can provide inexpensive credit to state-owned enterprises.
Would it make sense to continue extending cheap credit to state-owned heavy manufacturers at the expense of greener private-sector start-ups?
At the time Mr Tapie was in the midst of a court battle with the former state-owned bank Credit Lyonnais.
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If your Virginia gross income is below the federal poverty level, you get 20% of the federal credit in state tax credits.
He thought that Japanese-style state-directed easy credit for Korea's chaebol (conglomerates) would allow them to expand indefinitely without worrying overmuch about profits.
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Typically the resident state will provide a credit for some or all of the tax that its residents paid to other states.
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Enacted in 2001, the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) made significant changes to the federal estate tax credit for state death taxes.
FORBES: For "Conforming States," State Death Taxes Will Rise When EGTRRA "Sunsets"
America ripostes that China routinely subsidises its domestic industries (including exporting firms) by providing them with inexpensive land and credit from state-controlled banks at cheap rates.
The number of state jobs in the credit card sector have fallen 10 percent since 2007, while overall wages have dropped 25 percent in the same time.
The auto insurance industry has long maintained that deadbeats are accident-prone and has pushed state legislatures to allow credit scores to be a bigger factor in setting auto premiums.
The money comes partly through formal credit from state banks that gets washed through other state-owned enterprises but also from informal channels that seem to be out of Beijing's control.
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