Courtesy of CNN

Senate approves tax breaks for troops, reservists House passed similar measure

The legislation, passed 97-0, excludes military death benefits from taxable income, allows reservists and National Guard to deduct travel expenses related to their service, and assures that service members forced to make frequent moves won't be subject to capital gains taxes on the sales of their homes.

The vote came as Congress considered a $74.7 billion request from the White House to help finance the conflict in Iraq and the war against terrorism.

The article is here.
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Courtesy of LA Times

State to Study Web Sales Tax
By Evan Halper, Times Staff Writer

SACRAMENTO -- State officials moved closer Wednesday to charging sales tax on consumer items purchased from out-of-state online and catalog companies, a requirement that could ultimately generate $1.8 billion annually for strained government coffers.

A bill that would make California part of a consortium of 36 states working on the issue breezed through a Senate committee Wednesday with bipartisan approval. And state tax regulators voted to begin limited participation with the consortium, effective immediately.

Article is here.

[While Mr. Halper doesn't mention the Streamlined Sales Tax Project by name, this is the same consortium of states that Governor Davis refused to join in the past. The last time this bill came to his desk, he vetoed it. Click Here.]

Published TaxMama.com 3.28.03
Courtesy IRS