corporate income tax News

State Farm Owes $2.6M to Florida, Court Says in Reading of ‘Dense’ Tax Code

State Farm Insurance and its subsidiaries owe the state of Florida more than $2.6 million in back taxes and interest after a state appeals court ruled against the insurer on an interpretation of state and federal tax laws. “We disagree …

Oklahoma Lawmaker Proposes Changes to Personal, Corporate Income Taxes

Oklahoma State Rep. Jason Dunnington has filed legislation that he says would generate more than $500 million in recurring revenue. Oklahoma is facing severe budget constraints, partly due to reduced energy industry activity in the state. Dunnington’s proposed measure would …

Bermuda Premier Says Won’t Agree UK Territories Tax Deal before G8

Bermuda’s premier is not ready to sign an international transparency convention that he said Britain’s prime minister had planned to achieve ahead of the G8 summit in Northern Ireland next week, potentially scuppering a broad deal. Bermuda’s Premier Craig Cannonier …