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California lawmakers appear willing to put aside skepticism about economic benefits of the state’s film and television tax credits and to expand the program, mainly to stanch the flow of productions to places with more generous tax breaks. More than 130 Democrats are condemning the Trump administration’s firing of thou
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News
Switzerland’s Startup Factory Wrestles With Europe’s Funding Gap
1+ week, 1+ day ago (124+ words) news.bloombergtax.com When Clara Lepsius graduated from ETH Zurich, she went to Harvard University to do her thesis. In the US, she teamed up with another ETH alum on a startup that merges tech with infant nutrition. Today, both…...
EY Invests $100 Million in Tech-Focused Rewards for US Workers
1+ week, 5+ day ago (297+ words) Budget. Capitalizing on “DExit” drama, Iowa and other states are working to raise their profiles as desirable...
Law Firms Can Use Private Equity’s Positives to Benefit Culture
2+ week, 6+ day ago (377+ words) It’s now not just about whether the money is available, but what happens to law firm culture once an investor has a stake in the outcome. The firms most likely to benefit from private equity aren’t the ones that chase…...
US Accounting Board Floats Examples of Crypto Counted Like Cash
3+ week, 4+ day ago (106+ words) news.bloombergtax.com Companies will gain tools to better assess whether certain cryptocurrencies like stablecoins can be treated similarly to cash in their financial reports under a new accounting proposal. The Financial Accounting Standards Board published a draft plan Tuesday…...
OpenAI to Fund Think Tank’s Study On Options for Taxing AI
3+ week, 5+ day ago (116+ words) news.bloombergtax.com OpenAI awarded a grant to a US-based global tax think tank to study approaches to taxing artificial intelligence and how wider adoption of the technology would affect individual and corporate incomes. The Tax Foundation will use the…...
Major Crypto Group’s Endorsements Skew Toward Low-Stakes Races
1+ week, 6+ day ago (98+ words) news.bloombergtax.com A vast majority of the congressional endorsements a key cryptocurrency group has issued this election cycle have either been in races deemed uncompetitive or where two pro-crypto candidates already are facing off, a Bloomberg Government analysis found....
Illinois Crypto Tax Stung With Another Industry Group Challenge
2+ week, 5+ day ago (112+ words) news.bloombergtax.com Cryptocurrency trade groups are bringing another legal challenge to Illinois’s first-in-the-nation tax on digital asset transactions, alleging the state hastily enacted a “flawed and unlawful statute.” The Blockchain Association and the Crypto Council for Innovation filed suit…...
Bridgewater Calls for AI Token Tax, Citizen Share in Profits
4+ week, 1+ day ago (96+ words) news.bloombergtax.com Leaders of the world’s biggest hedge fund joined calls for governments to tax the use of artificial intelligence as the technology threatens to displace enormous numbers of jobs. Bridgewater Associates CEO Nir Bar Dea and CIO Greg…...
Crypto Transfer Project Advanced by US Accounting Rulewriter
3+ week, 3+ day ago (88+ words) news.bloombergtax.com The US accounting board is moving forward on its effort to clarify how businesses should report cryptocurrency asset transfers to make it easier for investors to compare financial filings across companies. The Financial Accounting Standards Board directed…...
Accounting Board Newcomer Prioritizes Streamlining US Guidance
1+ week, 6+ day ago (111+ words) news.bloombergtax.com The US accounting board’s newest member says she will prioritize corporate and investor feedback as the rulewriter takes up some of the most pressing topics in financial reporting, from crytocurrency to private credit. Nearly two months into…...