Strata Obtains $559 Million in Financing for 1GWh Battery Energy Storage Project in Arizona
Strata Clean Energy, a developer-operator, has recently finalized a significant financing deal worth $559 million for its Scatter Wash BESS project in Arizona, USA. This project, which began construction last month, features a substantial 255MW/1,020MWh battery energy storage system (BESS) located near Phoenix. The funding package includes both debt and tax equity investment. Prominent financial […]
S and China Engage in Crucial Discussions on Industrial Overcapacity and Global Financial Stability
Recent developments in US-China relations have seen Washington raise concerns over Beijing’s handling of its industrial overcapacity, particularly in advanced manufacturing sectors like clean energy. High-level discussions have taken place, emphasizing the potential global market impact of China’s industrial policies. Additionally, both nations are intensifying collaboration to bolster global financial system stability and crisis response […]
Louisiana Governor Jeff Landry to Initiate Plans for Phasing Out State Income Tax
Louisiana’s Revenue Secretary Richard Nelson, appointed by Republican Governor Jeff Landry, recently discussed the administration’s long-term goal of phasing out the state’s income tax on an episode of the LaPolitics Report podcast. This plan, however, is not expected to materialize immediately or in a single bold move. During his appearance on the podcast, hosted by […]
Hawaii Considers Implementing $25 Environmental Fee for Visitors
Hawaii’s Governor Josh Green is championing a new initiative to introduce a $25 climate tax on tourists visiting the state. This move comes as a response to the growing environmental concerns exacerbated by tourism, highlighted by the tragic wildfires in Lahaina, Maui, which resulted in 100 fatalities and an estimated $6 billion in reconstruction costs. […]
List of 66 Nations Engaged in Double Taxation Agreements with the United States
In an increasingly interconnected world, migration for better living standards and job opportunities is common, but one aspect that remains constant for everyone is the obligation to pay taxes. Governments globally depend on taxes, especially income taxes from individuals and businesses. In the realm of multinational corporations and startups, one complex issue that arises is […]
Comprehensive List of U.S. States Offering Child Tax Credit Benefits
Tax season brings an opportunity for parents and guardians in various states to enhance their returns through state-level Child Tax Credits (CTC), in addition to the federal CTC, which offers up to $2,000 per child. This year, part of the federal benefit, known as the “Additional Child Tax Credit” worth up to $1,600, requires meeting […]
Homeowners in B.C. Faced with Vacancy Tax Despite Residing in Property
Madison and Charlotte Becerra, a couple residing in Ladysmith, B.C., on Vancouver Island, are facing the potential loss of their home following an unforeseen tax demand. The B.C. government has levied a $13,000 speculation and vacancy tax against them, payable by July 1, under new regulations affecting their area. Background The Becerras, who purchased their […]
Understanding Your Tax Refund Timeline for Fiscal Year 2023
As the Internal Revenue Service (IRS) commences the review and assessment of 2023 tax returns, understanding the timeline for tax refunds becomes crucial for taxpayers. Those who filed their tax returns promptly stand a chance to receive their refunds earlier. The IRS has an efficient online tool, “Where’s My Refund?”, which allows taxpayers to track […]
Strategies to Minimize the Risk of an IRS Tax Audit
The IRS Targets $100 Billion Revenue Increase Over Next Decade The Internal Revenue Service (IRS) has set an ambitious goal to boost its revenue by $100 billion in the coming ten years. This objective will be pursued primarily through intensified auditing efforts aimed at ensuring comprehensive income reporting by taxpayers. The agency’s focus, as emphasized […]
Illinois Ranks as Second-Highest for Corporate Income Tax in the U.S.
A recent study by the Tax Foundation, an independent organization, reveals that Illinois now holds the second-highest corporate tax rate in the United States as of January 1, 2024. This places Illinois behind only Minnesota, which has a 9.8% rate, in terms of corporate tax rates. Illinois’ rate stands at 9.5%, a rise from its […]