Exact(12)
Ultimately, many owners win refunds for their excess taxes, and the staggering bills have nearly bankrupted the county.
The agreement also requires that commercial property owners who get property tax refunds distribute the proceeds to any tenants who originally paid the excess taxes.
They also accused the majority of padding the budget with excess taxes to build a fiscal cushion for Mr. Suozzi early in his term.
Because Suffolk had benefited from the excess taxes, the authority is financing the borrowing by giving Suffolk customers a smaller rebate and a smaller cut in electricity rates -- 19.1percentt, compared with 20.9percentt in Nassau.
Mr. Kessel said the payments could only be understood in the context of the larger settlement, which spared Suffolk County from having to pay the full $1.4 billion settlement, as opposed to a $620 million reimbursement of excess taxes to LIPA.
A lawsuit filed in a state district court in Duval County, Tex., last June by Nora J. Olvera contends that Hotels.com charged excess taxes on hotel accommodations "that were not owed or remitted to taxing authorities and that in equity and good conscience belong to plaintiff".
Similar(48)
The tax savings are listed in regulatory filings as "excess tax benefits from stock-based compensation".
Without the use of rebates, businesses with excess tax benefits would be incentivized to shift these tax assets to other businesses that could benefit from them.
District Attorney Paul L. Mangieri wants to sue Maytag to recoup what he says were excess tax breaks in a broad package of incentives to keep the company here.
Strong economic growth during the 90's provided excess tax revenue that the federal government has begun to use in making a down payment toward paying off our national debt.
Under this approach, the official said, the McGreevey administration would pledge any excess tax revenues over what is needed to pay the annual debt service on the arena to reduce the outstanding debt of the New Jersey Sports and Exposition Authority.
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