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NEWS
July 12, 2011
I wrote a letter to Sen. Ben Cardin about Bono and U2 that The Sun recently published. The Sun then published a letter published from The Edge of U2 in response to my letter. I want to take this opportunity to correct and clarify the use of the phrase "tax evasion" in my letter, both for The Edge and your readers' benefit. My intention is not to accuse either U2 or individual band members of criminal tax evasion. My clarification and correction is that I am saying that they aligned their business interests with avoiding paying taxes, not criminal evasion.
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NEWS
By Michael Dresser, The Baltimore Sun | August 19, 2012
Gov. Martin O'Malley, President Obama's go-to surrogate during the summer election season, slammed Republican candidate Mitt Romney Sunday morning on Medicare and taxes during an appearance on NBC's Meet the Press. The Maryland Democrat squared off against a familiar foil, Republican Virginia Gov. Bob McDonnell, as the two presented the talking points for their respective presidential candidates during a quarter-hour segment hosted by David Gregory. O'Malley, chairman of the Democratic Governors Association, labeled Romney's choice for vice president, Wisconsin Rep. Paul Ryan, as "the leader of the Tea Party Republican Congress" and said the party tickets present a clear choice for the American people.
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NEWS
By Scott Klinger | April 9, 2012
Apple has gone on a very public tax strike. Months after reporting the second-highest quarterly profits in U.S. history, America's favorite company is refusing to bring home more than $60 billion of offshore funds in protest of the taxes it would have to pay. Apple paints its predicament as unfair. Yet Apple's funds did not build up offshore because its iPhones, iPads and Macs are so much more popular overseas than they are at home. Though more than two-thirds of its retail stores are in the United States and Apple sells more products in the U.S. than in any other nation, it reports to shareholders that it made 24 cents in pre-tax profit for every dollar of sales in the United States, compared to 36 cents profit on every dollar of sales abroad.
NEWS
By Scott Klinger | April 9, 2012
Apple has gone on a very public tax strike. Months after reporting the second-highest quarterly profits in U.S. history, America's favorite company is refusing to bring home more than $60 billion of offshore funds in protest of the taxes it would have to pay. Apple paints its predicament as unfair. Yet Apple's funds did not build up offshore because its iPhones, iPads and Macs are so much more popular overseas than they are at home. Though more than two-thirds of its retail stores are in the United States and Apple sells more products in the U.S. than in any other nation, it reports to shareholders that it made 24 cents in pre-tax profit for every dollar of sales in the United States, compared to 36 cents profit on every dollar of sales abroad.
NEWS
By Bill Adams | March 12, 2012
Maryland's General Assembly faces another year of "difficult choices" as it takes up the governor's budget. So it's surprising to me that lawmakers don't turn more readily to what should be an easy choice: closing loopholes in the corporate income tax (CIT). Federal and state governments have faced declining corporate tax revenue for years, mainly thanks to increasingly aggressive use of legal tax avoidance techniques. At the state level, this generally means shifting income from higher- to lower-taxed jurisdictions.
NEWS
By Michael Dresser, The Baltimore Sun | August 19, 2012
Gov. Martin O'Malley, President Obama's go-to surrogate during the summer election season, slammed Republican candidate Mitt Romney Sunday morning on Medicare and taxes during an appearance on NBC's Meet the Press. The Maryland Democrat squared off against a familiar foil, Republican Virginia Gov. Bob McDonnell, as the two presented the talking points for their respective presidential candidates during a quarter-hour segment hosted by David Gregory. O'Malley, chairman of the Democratic Governors Association, labeled Romney's choice for vice president, Wisconsin Rep. Paul Ryan, as "the leader of the Tea Party Republican Congress" and said the party tickets present a clear choice for the American people.
NEWS
June 5, 1999
`Couch tax' needed to protect Maryland's retailers and revenuesBarry Rascovar's Opinion Commentary column "Crackdown on the sofa scofflaws" (May 30) demonstrated a serious misunderstanding of the long overdue tax compliance effort initiated by state Comptroller William Donald Schaefer.Mr. Schaefer's initiative is consistent with his long record of concern for Maryland businesses and jobs. The "use" provision of Maryland's sales tax law was designed to prevent tax avoidance and provide protection and fairness for Maryland retailers.
NEWS
By Will Englund and Will Englund,SUN FOREIGN STAFF | June 27, 1998
MOSCOW -- Cheating on taxes has gotten so out of hand here that it poses a bigger threat to Russia's fragile economy than the tumbling stock market or ballooning interest rates, Boris Fyodorov, the new tax chief, said yesterday.With revenue from oil sales falling, Russia's only hope of avoiding a ruinous devaluation of the ruble this summer is to start pulling in what its citizens owe in taxes.But Fyodorov has to accomplish that with a woefully underpaid and unqualified tax service that, he said, is ridden with bribery and corruption.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,Washington Post Writers Group | November 15, 1992
New York -- It rarely makes sense to rearrange your finance just because the White House changes hands. You never know what a new president will do, or when he'll do it.We of the media interview the experts, who speculate. But the smart investor watches and waits. You should act only on what Bill Clinton specifically says he'll do, not on what observers hope, or fear, he'll do.zTC Here's the rundown of what we know now:* Taxes. After the flip-flop on read-my-lips, it's hard to trust any president on taxes.
NEWS
By PETER H. STONE | April 30, 1995
Call it a hidden facet of the tax cut bill that House Speaker Newt Gingrich, Republican of Georgia, has labeled the "crown jewel" in the GOP's "Contract with America."At hearings before the House Ways and Means Committee in late January, a parade of top executives from oil, paper, chemical and steel companies testified that tax relief proposed in the contract didn't go far enough. What would really help their industries, they said, was a rollback of the corporate alternative minimum tax (AMT)
NEWS
By Bill Adams | March 12, 2012
Maryland's General Assembly faces another year of "difficult choices" as it takes up the governor's budget. So it's surprising to me that lawmakers don't turn more readily to what should be an easy choice: closing loopholes in the corporate income tax (CIT). Federal and state governments have faced declining corporate tax revenue for years, mainly thanks to increasingly aggressive use of legal tax avoidance techniques. At the state level, this generally means shifting income from higher- to lower-taxed jurisdictions.
NEWS
July 12, 2011
I wrote a letter to Sen. Ben Cardin about Bono and U2 that The Sun recently published. The Sun then published a letter published from The Edge of U2 in response to my letter. I want to take this opportunity to correct and clarify the use of the phrase "tax evasion" in my letter, both for The Edge and your readers' benefit. My intention is not to accuse either U2 or individual band members of criminal tax evasion. My clarification and correction is that I am saying that they aligned their business interests with avoiding paying taxes, not criminal evasion.
NEWS
By Laura Smitherman and Laura Smitherman,Sun reporter | March 22, 2008
The Maryland Senate gave preliminary approval yesterday to a bill that would allow domestic partners the same right as married couples to avoid paying taxes when adding each other to home property deeds to create joint ownership. But a key Senate leader said yesterday that another tax bill to exempt domestic partners from inheritance taxes might not get a vote this year. The two tax bills and a third measure, which would grant domestic partners the right to medical decision-making and hospital visitations, passed by the Senate this week, have been sought by gay rights activists.
NEWS
By Andrew A. Green and Andrew A. Green,SUN REPORTER | July 24, 2007
Nearly half of Maryland's largest for-profit companies did not pay corporate income taxes in 2005, a new report shows, strengthening calls from some lawmakers to begin tackling the state's projected $1.5 billion budget shortfall by closing business tax loopholes. The report, released by state Comptroller Peter Franchot in response to a legislator's request, does not identify specific corporations that avoided taxes. But it found that half or fewer of the state's biggest financial, retail and manufacturing companies paid corporate taxes.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,SUN STAFF | February 21, 2004
Maryland has collected more than $10 million from companies that used Delaware shelters to avoid paying corporate income tax here, plus an undisclosed sum from a company that had battled with the state for seven years - all the way to the U.S. Supreme Court. Maryland Comptroller William Donald Schaefer said he could not legally disclose the terms of the settlement with Crown Cork & Seal, which the state said owed more than $2 million in taxes, interest and penalties. The company's senior vice president of finance did not return a call seeking comment yesterday.
BUSINESS
By BLOOMBERG NEWS | August 20, 2002
WASHINGTON - The Internal Revenue Service is demanding data from dozens of banks, accounting firms, law firms and other financial advisers on clients who seek to avoid taxes. The IRS has issued 150 summonses since late January as part of a crackdown on sophisticated accounting that companies use to avoid taxes, such as through offshore entities, said David Harris, manager of the IRS tax shelter analysis office. Several requests have been referred to the Justice Department for possible court action, he said.
NEWS
By Laura Smitherman and Laura Smitherman,Sun reporter | March 22, 2008
The Maryland Senate gave preliminary approval yesterday to a bill that would allow domestic partners the same right as married couples to avoid paying taxes when adding each other to home property deeds to create joint ownership. But a key Senate leader said yesterday that another tax bill to exempt domestic partners from inheritance taxes might not get a vote this year. The two tax bills and a third measure, which would grant domestic partners the right to medical decision-making and hospital visitations, passed by the Senate this week, have been sought by gay rights activists.
NEWS
By NEW YORK TIMES NEWS SERVICE | July 2, 2000
PARIS - Author W. Somerset Maugham once described Monaco as "a sunny spot for shady people." Last week, the French Parliament offered a few more details. In a scathing 400-page report, the Parliament said that the tiny principality - a famous refuge for wealthy tax dodgers - is an ideal place to launder money. It accused Monaco of having deliberately put into effect lax banking laws - including a guarantee of anonymity - to attract wealthy depositors. And it said that the monetary surveillance systems are so poor that even if Monaco officials wanted to cooperate in international efforts to prevent money laundering, they could not. "Monaco is one of the most hypocritical territories when it comes to the fight against money laundering," said Arnaud Montebourg, one of the Socialist members of Parliament who helped to write the report.
NEWS
By Larry Carson and Larry Carson,SUN STAFF | April 18, 2002
Hewing to his usual cautious fiscal approach, Howard County Executive James N. Robey's $824 million final first-term budget proposal contains no tax increases or layoffs, but denies county schools over $6 million in spending requests. Like other area executives, Robey blamed the recession for a minimal 1.6 percent spending increase, and a local first - the use of up to $15 million from the Rainy Day Fund to pay this year's bills. "We saw a spring shower on the horizon when it came to the economy, but it turned into a thunderstorm," Robey said about last spring's projections and the income tax revenue losses that followed.
NEWS
By NEW YORK TIMES NEWS SERVICE | July 2, 2000
PARIS - Author W. Somerset Maugham once described Monaco as "a sunny spot for shady people." Last week, the French Parliament offered a few more details. In a scathing 400-page report, the Parliament said that the tiny principality - a famous refuge for wealthy tax dodgers - is an ideal place to launder money. It accused Monaco of having deliberately put into effect lax banking laws - including a guarantee of anonymity - to attract wealthy depositors. And it said that the monetary surveillance systems are so poor that even if Monaco officials wanted to cooperate in international efforts to prevent money laundering, they could not. "Monaco is one of the most hypocritical territories when it comes to the fight against money laundering," said Arnaud Montebourg, one of the Socialist members of Parliament who helped to write the report.
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