New Jersey residents have been hit by their government with a 7% tax on iTunes downloads (as well as other music download services such as Napster) this past week. The sales tax overall was raised from 6 to 7% in order to help the state fight their $4.5-billion deficit. Many are speculating that other statesContinue reading “New Jersey legislates tax on iTunes downloads”
Tag Archives: US
Pension brouhaha south of the border
FASB is coming out with some tough new standards relating to defined benefit pensions that is expected to result in significant new liabilities (or increases to existing ones) for companies that had been accounting for their pensions under the more lax requirements of the old standard. Defined benefit pension plans are definitely the more complicatedContinue reading “Pension brouhaha south of the border”
Love tax theory, hate tax application
Tax is a subject that is near and dear to my heart, but not because I occasionally fill out a tax return. Tax theory is fascinating and relevant stuff, but I won’t ask you to take my word for it. I think the reason why I like tax theory but hate applying tax law, isContinue reading “Love tax theory, hate tax application”
NAFTA super highway to accelerate North American trade
I stumbled across this story through digg and it seemed pretty well supported even though it hasn’t been covered in the mainstream media at all yet. The Bush administration appears to be planning for a Mexico-USA-Canada “super corridor” to bypass a couple unions. The new road will allow containers from the Far East to enterContinue reading “NAFTA super highway to accelerate North American trade”
Alcatel buying Lucent for $13.5 billion
The French telecom company Alcatel is buying Lucent in what is reported to be a $13.5 billion acquisition made to improve R&D capabilities in both organizations. Lucent’s CEO, Patricia Russo, doesn’t speak French but will become the new CEO of the Paris-based giant. I wonder how well that’s going to work out. It will beContinue reading “Alcatel buying Lucent for $13.5 billion”