Daily Deduction Tax Credits for Film, Sales Taxes for Alcohol
Renu Zaretsky
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The Continuing Resolution continues to move through Congress. Politico reports the 49-page document would mostly hold federal funding at current levels for the first twelve weeks of the fiscal year, from Oct. 1 through Dec. 20. It includes $231 million in additional funding for the US Secret Service. The House Rules Committee met yesterday to initiate floor debate on the measure. 

IRS names new head of the Independent Office of Appeals. The agency selected Elizabeth Askey to serve in the role. She’ll set strategy and oversee operations of the office, which helps to resolve controversies between taxpayers and the IRS without litigation.  

Minnesota’s film industry gets a boost with new state agency to administer tax credits. Minnesota’s new “Explore Minnesota Filmagency will administer the state’s existing tax credits to filmmakers who work in Minnesota. The state’s Film Production Tax Credit provides a 25 percent income tax credit to production companies that spend at least $1 million in a 12-month period on eligible production costs. As of September 16, $53 million in credits remained available, and an additional $25 million will become available on Jan. 1, 2025. 

Oregon state lawmaker proposes a new sales tax on beer and wine. Oregon currently levies a tax of 8 cents per gallon on beer and 67 cents per gallon of wine paid by wine manufacturers and distributors. State Rep. Tawna Sanchez has proposed a sales tax paid by consumers on top of the existing tax, though she has not yet detailed the amount. She wants the revenue to support the prevention, intervention, and recovery services for anyone under the age of 21. Her prior efforts to increase taxes on beer and wine have failed to garner support. 

Croatian government proposes taxing second and third homes. The government aims to curb short-term holiday rentals, address a housing shortage, and boost residential real estate sales, reports Bloomberg. The proposed tax bill must first be approved by lawmakers and would go into effect in 2025. It would apply to more than 800,000. Croatia’s finance minister did not provide a revenue estimate for the tax. 

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