Taxes

IRS proposes rules to govern new small business deduction

Small business owners have gotten more information about a new tax break many will get, with the IRS issuing proposed regulations that explain the deduction for qualified business income and which company owners can claim it.

Tobacco-funded group sues over Montana citizen tax measure

A tobacco industry-funded group wants to change the wording of a citizen's ballot initiative that would significantly raise Montana's tobacco taxes, a legal challenge that is part of the group's expensive effort to defeat the measure when it goes to voters in November.

Wisconsin GOP leader: Not enough votes for paper plants bill

A Republican co-chair of the Legislature's budget committee said Monday there are not enough votes in the Senate to pass a tax break bill designed to keep open a pair of Kimberly-Clark Corp. plants in northeast Wisconsin, saving more than 600 jobs.