News & Analysis as of September 26, 2024

Tax Credits

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

The Pros and Cons of Parents Claiming College Students as Dependents

Fleurinord Law PLLC on 8/30/2024

As the back-to-school season kicks off and college students begin their fall semester, now is the perfect time to consider the financial implications of your child heading off to college. The decision of whether to claim them...more

Help Paying for College – Federal Tax Credits

Bowditch & Dewey on 2/27/2024

Education income tax credits are one way students and parents can help pay for college. There are two types of federal tax credits available to taxpayers: the American opportunity tax credit (AOTC) and the lifetime learning...more

Highlights from the Colorado Assembly’s Extraordinary Session for COVID-19 Relief

Snell & Wilmer on 1/13/2021

On November 30, 2020, the Colorado General Assembly convened for an extraordinary session aimed at providing additional pandemic relief. Of the nearly 40 bills that were introduced, 10 passed. By December 7, 2020, Governor...more

Connecticut Enacts Business Tax Credit for Student Loan Assistance

Holland & Knight LLP on 7/18/2019

Connecticut recently passed "An Act Establishing a Tax Credit for Employers That Make Payments on Certain Loans Issued to Employees by the Connecticut Higher Education Supplemental Loan Authority" (Act). The Act, signed on...more

Illinois’ Invest in Kids Tax Credit

McDermott Will & Emery on 12/19/2017

Overview- Illinois’ July 2017 Revenue Bill for the 2018 fiscal year included the Invest in Kids Act (Act), which creates a new program, effective January 1, 2018, that provides up to $75 million in income tax credits for...more

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