Tax write-offs. (L.A. Stories).With the state desperate for ways to plug its $38 billion budget deficit but wary of criticism for any new tax proposals, lawmakers in Sacramento are coming up with creative names for their revenue enhancing ideas. In a recent e-mail, Assemblyman as·sem·bly·man n. A man who is a member of a legislative assembly. assemblyman Noun pl -men a member of a legislative assembly Noun 1. Charles Poochigian, a Fresno-area Republican, cataloged some of the nomenclature being used for the various proposals being floated: "Assessment, clarification, co-payment, fee, levy, license fee, narrowing, reassessment, revenue augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. , revenue enhancement revenue enhancement An increase in revenues, especially by way of increased taxes. Revenue enhancement includes reducing taxpayer deductions and eliminating tax credits. , severance tax severance tax n. A tax imposed by a state on the extraction of natural resources, such as oil, coal, or gas, that will be used in other states. , suspension, tax simplification and trigger." What do "narrowing" and "clarification" have to do with a tax increase? Poochigian refers to the proposed Manufacturers Investment Credit Narrowing. "The governor's budget proposes to clarify who is an eligible manufacturer for the manufacturers investment credit. In actuality, the proposal would inappropriately eliminate an entire classification of otherwise eligible entities." |
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