Tax Spotlight

REVENUE: WHERE DC GETS ITS MONEY


The DC government collects revenue in a variety of ways from its residents, businesses, and the federal government.  These revenues are used to fund the wide array of services provided by the District, from schools to health care to libraries to road construction.  The DC government collected about $8.8 billion in revenue in fiscal year [...]


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TAX AND OTHER REVENUE INITIATIVES IN THE FISCAL YEAR 2013 BUDGET


The fiscal year (FY) 2013 budget includes $88 million in additional revenues to help address the city’s $172 million budget gap for next year. Some of the revenue proposals would improve efforts to collect tax and non-tax revenues and to enforce the city’s traffic laws, which require additional staffing and equipment. Taking these associated costs [...]


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LEGISLATION WOULD ALLOW WEALTHY TECH INVESTORS TO PAY LOWER TAX RATE THAN WORKING DC FAMILIES


A bill before the DC Council on July 10th — the Technology Sector Enhancement Act — would allow investors in DC tech companies to pay just three percent in income tax when they sell their stake in these companies for profit. This special new tax rate for tech investors would be lower than the income [...]


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Of Interest
   

It’s Time for the Council to Update DC’s Low-Income Property Tax Credit (District’s Dime)

What Would a “Commuter Tax” Mean for DC? (District’s Dime)

Update: DC Council Delays High Tech Investor Tax Break Vote Until September (District’s Dime)