com .

tax wealthy

ADVISORY/Tax Deadline Day Is Less Than One Month Away - What Do Individuals Need To Consider In The Next Few Weeks To Minimize Tax Bills?

Business Editors/Assignment Editors
ADVISORY. "It has become fashionable over the past several years to allege that
businesses aren't paying 'enough' taxes to state and local government," said
Mr.

irs priorities

With the April 15
countdown on, what can taxpayers do to make sure that they
minimize their tax bills and obtain the largest refunds
possible?

WHO: Steve Thorne and Mike Huesing, partners in Deloitte's Tax
practice, the largest in tax practice in Chicago, specialize
in tax planning for families and individuals."
Property taxes on business property were $165 billion in FY2004,
accounting for 37% of state and local business taxes. For more information
visit http://www.

burdens gasoline

"Unfortunately, lawmakers too often focus on the corporate income
tax, which is only one of many taxes businesses pay to state and local
government.webwire.

gasoline revenues

(The complete study is available
at http://www. Sales taxes on business
purchases of inputs and capital equipment totaled $105 billion, 23% of the
total.org

This release was issued through WebWire(R).

regulating burdens

Deloitte Offers Advice For Taxpayers Wrestling With Preparation of
2004 Tax Returns

WHAT: April 15, tax deadline day, is less than one month away, and
many individuals will spend the next four weeks preparing 2004
returns in order to meet filing deadlines.

regressive dollars

org .

gasoline penalty

regulating arguing

.

----Deloitte .

gains burdens

. The state and local tax burden on business is
substantial, and businesses have paid more than 50 % of all state and local tax
increases since FY2000.

regressive priorities

New Study Details State-by-State Business Tax Payments

WASHINGTON, nearly 10% higher than in FY2003
-- according to a new study released today by the Council On State Taxation
(COST)."

Contact Information:
Joseph R.

irs taxation

The group's mission is to serve as our clients' most
trusted advisor and to help them make informed and strategic
decisions based upon their goals for personal financial comfort ,
business and investment needs, family legacy, and charitable
giving during lifetime and at death. We hope that our study, which presents a complete state-by-state
picture of business taxes , leads to more informed debate on these issues.

regressive progressivity

statetax.

priorities irs

percentage regressive

progressivity percentage

Both can offer
knowledgeable financial and tax planning advice to help
individuals prepare for April 15, including:

-- Tips to help tax payers avoid unnecessary penalties and taxes

-- Commonly overlooked deductions that can help tax payers save
money

-- What's new for the 2004 filing season in the wake of the
American Jobs Creation act of 2004

-- How to cope with the stress of tax return preparation

-- Advice for year -round tax planning designed to eliminate
future pre-April 15 tax panic

-- How tax payers can go about getting an extension if they can't
meet the April 15 deadline, and for how long can the deadline
can be extended

-- How tax season can serve as an opportunity to review financial
plan, strategies and technique for successful long-term
financial planning

Deloitte's Private Client Advisors group provides comprehensive ,
independent and objective wealth planning advice and services to
affluent individuals and families, executives, and owners of
closely held businesses, through hundreds of professionals
nationwide.)
"State lawmakers are frequently asked to make decisions on complex
business tax issues," said Doug Lindholm, COST's President + Executive
Director."

Data Available on State-by-State Basis
"In addition to national figures, we calculated state and local business
taxes for each state for FY2000 and FY2004," said Bob Cline, co-author of the
study and National Director of State and Local Tax Policy Economics for Ernst
+ Young. "In 26 states, business paid over half of all tax increases over the
past four years.

progressivity percentage

Crosby
Legislative Director
Council On State Taxation (COST)
207-781-5213
jcrosby@statetax.

bills priorities

gains stance

billions progressivity

"As our study shows, the reality of business taxes is quite
different than the perception.

burdens stance

Lindholm.

burdens misinformation

excise bills

penalty progressivity

The study , which shows that businesses pay 43% of all state and local
taxes, will help policymakers better understand the true burden of taxes on
businesses in their states and localities.

stance explained

Businesses Pay $447 Billion in State and Local Taxes

regressive taxation

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- - kjjkjk

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