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In order to claim this credit the tax filer must be a resident for the full year. The maximum credit is $1,000 and for filers who make less than $25,000 per year the property tax must be over 3% of their yearly income. For tax filers who make between $25,000 and $40,000 the property tax must be over 4% of their yearly income.
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
For the tax year 2013, some taxpayers experienced the first year-to-year income-tax rate increase since 1993, although the rate increase came about not as a result of the 2012 Act, but as a result of the expiration of the Bush tax cuts. The new rates for income, capital gains, estates, and the alternative minimum tax would be made permanent. [3 ...
A former state board of education member, most notorious for using the N-word at a board meeting in 2013, is running for state treasurer.
Credit Suisse v. Billing: 551 U.S. 264 (2007) Whether Congress's creation of the SEC implicitly exempted regulated industries from antitrust lawsuits Rita v. United States: 551 U.S. 338 (2007) "reasonableness" of a federal prison sentence under United States v. Booker; continuing application of the Federal Sentencing Guidelines
CBRE, the world’s biggest commercial real estate firm, anticipates a boost to commercial real estate activity and values. They’re expecting a 15-20% increase in transactions.
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The AOTC replaced the Hope Scholarship credit for Tax Years 2009 and 2010, increased the benefits for nearly all Hope credit recipients and many other students by providing a maximum benefit up to $2,500 per student, 100 percent of their first $2,000 in tuition and 25 percent of the next $2,000, expanding the income range over which taxpayers ...