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1 min read

Financial Transaction Tax Introduced in New Jersey

By NAIFA on Sep 21, 2020 11:55:35 AM

The insurance industry in New Jersey faced a scare in mid-September when Senate President Steve Sweeney introduced S-2902, which would impose a tax on high-quantity processors of financial transactions at $0.0025 per transaction. The bill defines "high-quantity" as processors of 10,000 or more financial transactions through electronic infrastructure located in New Jersey during the year. There was speculation the funding mechanism would be attached to the state budget. Fortunately, the state budget was approved, and the transaction tax was not included.

Topics: Tax State Advocacy
3 min read

NAIFA Webinar:  COVID-19 Executive Actions in August

By NAIFA on Aug 28, 2020 10:39:57 AM

View the Webinar On-Demand

Topics: Advocacy Tax COVID-19
1 min read

NAIFA-CO Sees Big Win on Proposal to Expand Annuity Taxes

By NAIFA on Jun 16, 2020 11:24:14 AM

When Colorado legislators on June 8 introduced changes to the state’s tax laws that would impact insurance companies, consumers, and retirement savers, NAIFA’s state advocacy team sprang to action. The original version of the “Adjust Tax Expenditures For State Education Fund Act” (HB20-1420) would have expanded the state’s tax on some insurance premiums to include a broader range of annuity products. It also would have removed a credit applied to existing premium taxes for insurance companies that maintain home offices in Colorado.

Topics: Annuities Retirement Tax State Advocacy Colorado

IRS Webinar to Answer COVID-19 Tax Questions

By NAIFA on Apr 22, 2020 4:31:19 PM

An Internal Revenue Service (IRS) webinar tomorrow will provide a forum for taxpayers to ask IRS officials questions about relief payments due to taxpayers under the CARES Act and other COVID-19-related tax matters. The webinar is open to everyone and will be of particular interest to small business owners, individuals, veterans, and Social Security recipients.

Topics: small business Tax

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