California Governor Gavin Newsom is proposing a new tax on cloud-based software sales to raise billions of dollars in state and local revenue in coming years. The proposal, part of the governor’s annual May budget revision, would likely affect large software vendors such as Microsoft Corp. , Salesforce Inc. and Oracle Corp. , as well as the growing artificial-intelligence software industry. It is ...
California Governor Gavin Newsom is proposing a new tax on cloud-based software sales to raise billions of dollars in state and local revenue in coming years. The proposal, part of the governor’s annual May budget revision, would likely affect large software vendors such as Microsoft Corp. , Salesforce Inc. and Oracle Corp. , as well as the growing artificial-intelligence software industry. It is expected to raise $1.1 billion in state and local tax revenue in the upcoming budget year and $2 billion annually in subsequent years. The tax is one of several revenue measures in a revised budget that shows no deficit this year or next after revenue came in $16.5 billion above projections. Newsom’s plan includes little new spending, avoids major cuts and separately lowers the first-year filing tax for new limited-liability companies. Read More: Newsom’s California Budget Bolstered by Extra Cash from AI Boom California currently does not tax sales of cloud-based software transferred online, unlike software sold as part of a new computer purchase or transferred through physical property. Web-based software sales would be subject to a 7.25% sales tax, which is often more with higher local taxes tacked on. “I was slow to this,” Newsom said of the software tax. “I’m at Best Buy often, and I’m paying sales tax on a lot of this pre-written software, and then I find out all my friends that aren’t near a Best Buy, they’re downloading it and they’re not paying sales tax. Well, how is that fair?” Dozens of states have adopted sales taxes on cloud-based software sales, the governor’s office said. Newsom’s proposal is subject to negotiations with state lawmakers ahead of the fiscal year that begins in July.
Saving for retirement in a traditional IRA or 401(k) often seems like a great idea. After all, who wouldn't want the benefit of pre-tax contributions? But that strategy could come back to bite you once you turn 73 or 75. That's when required minimum distributions , or RMDs, begin. And those can be a real pain if you don't actually need the money. Image source: Getty Images. Continue reading
Saving for retirement in a traditional IRA or 401(k) often seems like a great idea. After all, who wouldn't want the benefit of pre-tax contributions? But that strategy could come back to bite you once you turn 73 or 75. That's when required minimum distributions , or RMDs, begin. And those can be a real pain if you don't actually need the money. Image source: Getty Images. Continue reading
The Schwab U.S. Broad Market ETF (NYSEMKT:SCHB) and the iShares Core S&P Total U.S. Stock Market ETF (NYSEMKT:ITOT) are nearly identical in cost and performance, making the choice largely a matter of issuer preference or brokerage availability. Investors seeking to capture the entirety of American corporate growth often turn to total market funds as a one-stop solution. By holding the Schwab fund ...
The Schwab U.S. Broad Market ETF (NYSEMKT:SCHB) and the iShares Core S&P Total U.S. Stock Market ETF (NYSEMKT:ITOT) are nearly identical in cost and performance, making the choice largely a matter of issuer preference or brokerage availability. Investors seeking to capture the entirety of American corporate growth often turn to total market funds as a one-stop solution. By holding the Schwab fund or the iShares fund, one can avoid the need to pick individual sectors or stocks, instead relying on the market's own weighting system to drive returns. This comparison examines how these two low-cost giants stack up in terms of portfolio composition and historical volatility. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield. Continue reading
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Apple Inc (Symbol: AAPL), where a total volume of 629,160 contracts has been traded thus far today, a contract volume which is representative of approximately 62
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Apple Inc (Symbol: AAPL), where a total volume of 629,160 contracts has been traded thus far today, a contract volume which is representative of approximately 62
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Microsoft Corporation (Symbol: MSFT), where a total volume of 641,415 contracts has been traded thus far today, a contract volume which is representative of appr
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Microsoft Corporation (Symbol: MSFT), where a total volume of 641,415 contracts has been traded thus far today, a contract volume which is representative of appr
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in NVIDIA Corp (Symbol: NVDA), where a total volume of 4.3 million contracts has been traded thus far today, a contract volume which is representative of approximat
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in NVIDIA Corp (Symbol: NVDA), where a total volume of 4.3 million contracts has been traded thus far today, a contract volume which is representative of approximat
DOJ Sues DC Bar Over Its Prosecution Of Former Trump Lawyer, Calls It "Partisan Arm Of Leftist Causes" Authored by Troy Myers via The Epoch Times (emphasis ours), The Department of Justice (DOJ) filed a complaint on May 13 against the D.C. Bar, alleging it has acted as a “partisan arm of leftist causes.” The U.S. Department of Justice in Washington on April 27, 2026. Madalina Kilroy/The Epoch Time...
DOJ Sues DC Bar Over Its Prosecution Of Former Trump Lawyer, Calls It "Partisan Arm Of Leftist Causes" Authored by Troy Myers via The Epoch Times (emphasis ours), The Department of Justice (DOJ) filed a complaint on May 13 against the D.C. Bar, alleging it has acted as a “partisan arm of leftist causes.” The U.S. Department of Justice in Washington on April 27, 2026. Madalina Kilroy/The Epoch Times According to the DOJ, the agency seeks to advance President Donald Trump’s directives to end the weaponization of the federal government while nullifying the D.C. Bar’s prosecution of former Assistant Attorney General Jeff Clark. D.C. Disciplinary Counsel Hamilton P. Fox III, the D.C. Office of Disciplinary Counsel, the D.C. Court of Appeals, the District of Columbia itself, the D.C. Bar, and others are named as defendants and accused of unlawfully prosecuting Clark based on his internal deliberations of potential fraud in the 2020 presidential election. The Epoch Times reached out to the D.C. Bar for comment and was referred to the D.C. Board on Professional Responsibility, which did not immediately respond to a request for comment. Clark wrote a draft letter for his litigation on potential fraud, which was never issued, and the D.C. Court of Appeals’ disciplinary authorities punished him over it, according to the complaint. The D.C. Bar and others’ investigation and discipline of Clark were improperly based on “their disagreement with Mr. Clark’s performance of his discretionary Executive Branch duties, particularly with respect to a predecisional and deliberative document about potential election fraud in Georgia, which remains the subject of criminal investigation and civil litigation years later,” the complaint said. Allowing proceedings against Clark to continue would mean state bar authorities can exert control over the executive branch, the DOJ said, adding, “That is not the law.” The DOJ cited the supremacy clause of the U.S. Constitution, or preemption, as a cau...
Shares of Oklo (NYSE: OKLO) fell for the second straight day, trading 4% lower as of 2 p.m. ET Thursday. At least one analyst raised their price target on Oklo today, but the nuclear energy stock is facing a continued sell-off following its first-quarter earnings report and a significant new regulatory filing that has spooked some investors. Image source: Getty Images. Continue reading
Shares of Oklo (NYSE: OKLO) fell for the second straight day, trading 4% lower as of 2 p.m. ET Thursday. At least one analyst raised their price target on Oklo today, but the nuclear energy stock is facing a continued sell-off following its first-quarter earnings report and a significant new regulatory filing that has spooked some investors. Image source: Getty Images. Continue reading