U.S. tax experts note that while this exit tax sometimes dissuades older American millionaires from giving up their citizenship with few years left to make huge capital gains, tax-free the move often makes more financial sense for younger people like Mr. Saverin.
But note: Tax increases come in many forms, not just higher rates.
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Mr Obama has let one former tax-avoider through: Tim Geithner, the new treasury secretary, who failed to pay self-employment taxes when he was a consultant for the International Monetary Fund. (Foes of America's absurdly complicated tax code were delighted to note that even a reputedly brilliant economic mind failed to comply with it.) But with the financial and economic crisis raging, Mr Geithner appeared simply too important to lose.
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Rather than sell the note and pay the tax he entered into a deal with a company called Optech.
You also need to note the penalties for tax returns filed late after 1 November 2012 for paper returns, and 1 February 2013 for internet filing, are far more expensive than in the past.
And they almost never note that the statutory tax rate applies only to the last dollar earned or that the effective tax rate is substantially lower even for the richest taxpayers and largest corporations because of tax exclusions, deductions, credits and the 15 percent top rate on dividends and capital gains.
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It is important to note that the tests for income tax residence and transfer tax (gift and estate tax) residence are quite different.
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Note again that this is post tax and post benefit.
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They also note that the Treasury Department says a tax holiday would only expand the deficit.
One optimistic note for the near term, though: Tax selling, which tends to depress stock prices, will end in December and thus lay the groundwork for a January effect (when investors gobble up the marked-down stocks, leading to a mini-rally).
The 1951 to 1954 period had marginal tax rates on dividends of up to 91% and you note the top marginal taxes on income of 70% from 1956 through 1969.
He advocated a single 19% tax rate on all income (including, flat-taxers take note, on capital gains).
If this sounds far-fetched, take note that the scheme is already in place for supposedly tax-exempt municipal bonds.
Note that CBO is looking at a broader universe of tax preferences than the Congressional Research Service did recently.
Many real estate industry players took note of the new customers the government's homebuyer tax credit brought to the table.
Do note that it is not just the actual spending of tax money, or of private money, that we are using here.
Note what is being said here: that the US tax system is more progressive than the tax systems of most other OECD countries.
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One is that if you die when the note is outstanding, the taxmen could impose capital gains tax on the sale to the trust.
The wealthy entrepreneur doesn't usually attach a note saying that he usually manages not to pay much tax but this year he'd been forced to cough up.
At any rate, somehow the Rhode Island taxing authorities took note of the fact that Lois was filing a federal tax return using a Rhode Island address and not filing a Rhode Island return.
But note again that the largest group excluded from paying income tax because of special tax expenditures are seniors, who get a bigger standard deduction than younger folks and more importantly, special tax treatment for their Social Security benefits.
Sir Malcolm asked you to note that the whole House would continue to exercise control over tax and public expenditure.
Note that the above amount also does not factor in any tax liabilities that may be generated if the transaction were to take place outside of a retirement account.
Stifel Niclaous analyst David Grossman points out in a research note this morning that profits adjusted for the non-comparable tax rate missed the Street consensus by 27 cents a share.
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Obama was soundly criticized by Republicans at the time who failed to take note that the plan was not all that different from the tax structure under President Reagan.
Note that not all of the deficit increase derived from the tax bill: CBO projected a weaker economy than it had anticipated in August, which meant both lower revenues and higher spending over the next few years.
However, taxpayers should note that Code Sec. 1411 is to follow normal income tax rules (i.e. rules that a tax lawyer or accountant might refer to as tax rules under chapter one of the Internal Revenue Code), so for ease of calculation, what is exempted from the regular income tax, such as tax-exempted mutual bonds, are also excluded from the NII sum.
In the U.S. household energy expenditures can amount to over 20% of after-tax income for families in the bottom 20%, according to a research note by the Cleveland Fed.
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