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Income Taxes › Natural Disasters › Disaster Aid

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... more +
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 -
Brooks Pierce

Brooks Pierce Capital Dispatch: Consensus Revenue Forecast Released, Helene Work Continues

Brooks Pierce on

The recent release of the Consensus General Fund Revenue Forecast is a sign that work on the new state budget has begun. Although some legislators were in Raleigh this week, no votes were taken given inclement weather....more

Littler

Puerto Rico Department of Treasury Grants Tax Exemptions for Employer-Provided Payments and Certain Benefits to Employees and...

Littler on

On February 20, 2020, the Puerto Rico Treasury Department (PR Treasury) issued Internal Revenue Circular Letter No. 20-08 (CC RI 20-08) granting employers temporary income tax exemptions over payments and certain benefits...more

Littler

Puerto Rico Department of the Treasury issues Q&As Clarifying Guidance on Qualified Payments Made for Hurricane María Disaster...

Littler on

As previously discussed, on October 4, 2017, the Puerto Rico Department of the Treasury (the “PR Treasury”) issued Administrative Determination No. 17-21 (“AD 17-21”) granting temporary income tax exemption for payments...more

Jackson Lewis P.C.

Puerto Rico Agencies Issue Employee-Related Guidance, Tax Relief In Wake Of Hurricane

Jackson Lewis P.C. on

The passage of Hurricane María through Puerto Rico in September 2017 left catastrophic damages. In an effort to encourage employer assistance and provide temporary economic relief to employees in Puerto Rico, local government...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Employers Helping Employees - Are Disaster Relief Payments and Loans Exempt From Puerto Rico Income Tax?

Ogletree, Deakins, Nash, Smoak & Stewart,... on

With the havoc wrought by Hurricane Maria in Puerto Rico, employers are exploring options to provide emergency relief to those employees who have encountered financial hardship to meet their necessities and repair their homes...more

Littler

Puerto Rico Department of the Treasury Grants Temporary Tax Exemptions for Employer-Provided Payments and Certain Benefits to...

Littler on

On October 4, 2017, the Puerto Rico Department of the Treasury (the “PR Treasury”) issued Administrative Determination No. 17-21 (“AD 17-21”) granting temporary income tax exemptions for payments and certain benefits provided...more

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