Taxes

If approved, Proposition 208 would set up a fifth income tax bracket for wealthy residents that would raise the top rate to 8% from 4.5% through an additional 3.5% tax on incomes above $250,000, and $500,000 for joint filers.

Wealthy Americans living in New York, New Jersey and California could face one of the steepest tax rates in decades if Democratic presidential nominee Joe Biden wins the November election.

Biden will expose income above $400,000 to the 12.4% Social Security tax.

More than 100,000 residents are potentially affected by the income tax levied by New Hampshire’s neighbor.

New Hampshire asked the U.S. Supreme Court on Monday to strike down a regulation that requires roughly 80,000 of its residents who are employed by Massachusetts companies to pay income taxes in the neighboring state while they work from home during the coronavirus pandemic.

Many companies have relocated their headquarters from California throughout recent years.

The 39-count indictment unsealed Thursday charges Brockman, the chief executive officer of Ohio-based software company Reynolds and Reynolds Co., with tax evasion, wire fraud, money laundering, and other offenses.

For Americans who requested a tax deadline extension earlier this year, Thursday marks the final day to file 2019 income returns without a financial penalty.

Higher-income households would experience 'substantial' tax increases.