tax costs

tax costs

n. a motion to contest a claim for court costs submitted by a prevailing party in a lawsuit. It is called a "Motion to Tax Costs" and asks the judge to deny or reduce claimed costs. Example: a winning party claims a right to have his/her attorneys fees and telephone bills paid by the loser, even though they are not allowable as costs under state law or the contract which was the subject of the suit. So the loser makes a "Motion to Tax Costs" to avoid paying these charges. (See: cost bill)

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"I can't imagine others who hold MLP shares (to sell off); that is the large, speculative investors who probably did this." FERC announced on March 15 that it would no longer allow MLPs with interstate oil and natural gas pipelines to recover income tax costs in the service charges that are included in customers' bills.
American Midstream Partners, LP ("American Midstream" or the "Partnership") announced that the proposed revisions outlined by the Federal Energy Regulatory Commission ("FERC") regarding its 2005 Policy Statement for Recovery of Income Tax Costs, are expected to have a negligible impact on the financial results of the Partnership.
The survey, by www.taxback.com, also found many people had fears about how their property would be valued, since this will affect how much the tax costs.
The Tax Foundation released a study, Location Matters: A Comparative Analysis of State Tax Costs on Business, that compares taxes paid by businesses in the 50 states.
* Minimize the tax costs of the conversion: As a corporate liquidation is a double-tax event, the conversion can be expensive to the owners.
The new rules, set to be introduced from April 2012, will see that threshold cut to just 99g/km - increasing BIK tax costs for company car drivers.
Advisors reported that although the vast majority of their clients are interested in converting to a Roth IRA, they also are concerned about potential tax costs. Fidelity said in a statement that it believes investors should generally avoid using proceeds from a Roth IRA conversion to pay the tax costs because that reduces the amount that can potentially grow federally tax free and could offset any tax savings gained by converting.
A record number have signed up to Edinburgh's City Car Club - an initiative where drivers can book cars by the hour without the hassle of long-term insurance, servicing or tax costs.
A LOOPHOLE where company car drivers can avoid paying tax for the personal use of their vehicles is about to close and will result in thousands of van drivers facing a 600% hike in tax costs. Leading online commercials retailer Vansunited.co.uk found in a survey that fewer than half of all van drivers (42%) were aware they will be hit by the hike in six months' time, seeing tax costs for private use of a company van rocket from pounds 500 to pounds 3,000 - equivalent to the cost of driving a pounds 20,000 car.
"From April 6, 2007, the tax costs attributable to company vans will increase by 600 per cent from pounds 500 to pounds 3,000 - equivalent to the charge made on a pounds 20,000 company car.
Mr Littlejohns said: "It is important for all companies that are going to be affected by the new rules to act now in order that the impact on employees and the company is carefully managed, and that, where possible, unnecessary tax costs are avoided."
Put simply, tax costs matter (as do labor and other costs), and the choice between a domestic and foreign location for a new plant can be significantly affected by the tax costs associated with each venue.