Property Tax Credit

[BrokenBackJack]

This thread is getting away from ND property tax discussion.

 

[Fester]

There is no loophole, stock is taxed the same as cash payroll when you take ownership. Capital gains are paid on anything it gained above the amount you already paid taxes on when you sell.

So when a ceo gets paid billions in stock and recieves dividend payments from those stocks that equal a salary...those are taxed at the same rate as they would be taxed for income??? That's a loophole..hey lets pay this guy in stock where he will make just as much in dividend payments but Mr billionaire only pays 15% rate....yeah no loopholes there....(iso,rsu etc) there is a difference...

Blackjack yup..not responding further to tax loopholes..carry on with property

 

[FightingSioux]

I am as a golden rule as well, but when someone like Elon Musk gets $56 billion in Tesla shares instead of a salary, that kind of grinds my gears. Unless I am mistaken, he doesn't owe anything on that compensation since it comes as a stock. Instead, if he holds it for a year he can then dump it and pay long-term capital gains rates.

Someone please correct me if I am wrong on this!



If, however, you and I (or anyone for that matter) goes out and invests their already taxed money in a stock, I am fine with the system as is where you don't have to pay taxes on the capital gains until it gets cashed out. It seems unnecessarily complicated to expect people to pay taxes on unrealized capital gains.

Tax the share value they receive or don’t allow that as un-taxable income. Taxing unrealized gains is the worst idea I’ve ever heard from a free society

 

[FightingSioux]

There is no loophole, stock is taxed the same as cash payroll when you take ownership. Capital gains are paid on anything it gained above the amount you already paid taxes on when you sell.

You take ownership of a stock as soon as it’s in your name or fully vested. Us common folk are only allowed to put $23k in our 401k before it gets taxed (and we have to wait until retirement age to cash it out). Explain to me how it’s fair these billionaires and millionaires have no limit on stock options?

MAGA is tired of sticking up for millionaires and billionaires. They don’t need us anyways because they control all the R’s and D’s already!

 

[FightingSioux]

Thought of a new way to make up the $$$ for property taxes. Since businesses won’t be taxed on their property maybe we need to increase their income tax instead. No reason to give businesses a free ride!

For the record I’m against any federal tax increase for any businesses and I think individuals are the ones who are getting unfair loopholes. Taxing rich individuals won’t hurt businesses or the economy, quit drinking the koolaid! We have a big national debt to pay off!

 

[49994]

Our state run mill just reported record profit.....the money was placed in the general fund. Someone else brought up our state bank and their record profits. We don't have a taxation problem we have a spending problem and this is at all levels of our gov.

 

[Fester]

Our state run mill just reported record profit.....the money was placed in the general fund. Someone else brought up our state bank and their record profits. We don't have a taxation problem we have a spending problem and this is at all levels of our gov.

100% agree! The spending problem has been issues for years, but the people keep voting in the same people that have the spending problem..it's very hard to understand.

 

[hoythunter]

Tax the share value they receive or don’t allow that as un-taxable income. Taxing unrealized gains is the worst idea I’ve ever heard from a free society

The share value is taxed as ordinary income. Musk paid 37% on his stock option.

 

[Sluggo]

Yep. Spending is the problem. From blue lights so cops can tell when the light turns red, to panels around crosswalks as they replace perfectly good curbs, to trying to prevent every single person from every single hardship. Spend, baby spend.

 

[Lycanthrope]

The state has more than enough money to eliminate property tax and fund it with funds it already has, there is no need to 'get it somewhere else'. Cut spending on unnecessary projects, fund police with that. As mentioned multiple times now, we dont have an income problem, we have a spending problem, largely due to the jackwads we put in our legislature and gov's office.

 

[Fritz the Cat]

The state has more than enough money to eliminate property tax and fund it with funds it already has, there is no need to 'get it somewhere else'. Cut spending on unnecessary projects, fund police with that. As mentioned multiple times now, we dont have an income problem, we have a spending problem, largely due to the jackwads we put in our legislature and gov's office.

Lycan, I agree with you except jackwad politicians. Our elected representatives are beggared everyday by a citizenry who want gifts and largesse from the general treasury. At the local level it's way hard to buy a representative.

Here is how it works at the federal level:

https://www.washingtonexaminer.com/...ted-montana-tech-executives-donated-campaign/

https://www.nrsc.org/press-releases/scandal-tester-allies-caught-paying-for-endorsements-2024-08-26/

 

[Greenhorn]

Yep. Spending is the problem. From blue lights so cops can tell when the light turns red, to panels around crosswalks as they replace perfectly good curbs, to trying to prevent every single person from every single hardship. Spend, baby spend.

…and Bismarck still takes 5+ days to plow my street

 

[Fester]

…and Bismarck still takes 5+ days to plow my street

Ugh..who needs plows.

 

[deleted member]

it isn't the state's job to pay for plowing your city, township and county roads. it isn't the state's job to fund your city parks and recreation programs. it isn't the state's job to pay for your grade school. it isn't the state's job to fund your... you get the picture. nor should it be! the more local your tax need, taxing authority and tax collection, the more you have the ability to affect change in all of the above IF YOU WISH.

asking the locals to come up with another way to fund stuff is one thing. asking the state to foot the bill is absolutely asinine. how would that even work? we just put together our own township budget, send it to the state and expect them to fund whatever the hell we ask for? imagine the wishlists. you think we have spending problem now? wait and see how that pans out.

or are they going to have discretion? if they have discretion, now we are relying on some legislature from fargo to make budgeting decisions for some township of 50 people north of williston?!

 

[Greenhorn]

I agree, espringers. But I’ll still complain

 

[Fester]

it isn't the state's job to pay for plowing your city, township and county roads. it isn't the state's job to fund your city parks and recreation programs. it isn't the state's job to pay for your grade school. it isn't the state's job to fund your... you get the picture. nor should it be! the more local your tax need, taxing authority and tax collection, the more you have the ability to affect change in all of the above IF YOU WISH.

asking the locals to come up with another way to fund stuff is one thing. asking the state to foot the bill is absolutely asinine. how would that even work? we just put together our own township budget, send it to the state and expect them to fund whatever the hell we ask for? imagine the wishlists. you think we have spending problem now? wait and see how that pans out.

or are they going to have discretion? if they have discretion, now we are relying on some legislature from fargo to make budgeting decisions for some township of 50 people north of williston?!

Why not? All the budgets would definitely have more eyes on it as well as more people having a say...maybe town of 50 could get an olympic size swimming pool. Ha

 

[deleted member]

i agree there is too much money in the bank in ND. but, again.... that's the state and not the counties. and they should figure out a way to give some back . maybe just cut everyone one a check for x amount of dollars. issue there is its highly unlikely the people who paid said tax that is in the STATE accounts are going to be the ones who get that money back. most of it is from state owned mineral rights and taxes paid by big oil and privately owned mineral rights on those minerals. i suppose we could find a way to give big oil billions back. but, that seems ludicrous as we are likely gonna need it 40 years ago to clean up and generally fund the mess left behind out west. just ranting.

 

[NDSportsman]

i agree there is too much money in the bank in ND. but, again.... that's the state and not the counties. and they should figure out a way to give some back . maybe just cut everyone one a check for x amount of dollars. issue there is its highly unlikely the people who paid said tax that is in the STATE accounts are going to be the ones who get that money back. most of it is from state owned mineral rights and taxes paid by big oil and privately owned mineral rights on those minerals. i suppose we could find a way to give big oil billions back. but, that seems ludicrous as we are likely gonna need it 40 years ago to clean up and generally fund the mess left behind out west. just ranting.

Here's an idea, how about the state use that money to fully fund all the schools and fully fund the transportation infrastructure needs of the entire state. After all it's for the kids right? It's bettering the state for our future right?

 

[Fester]

This is all like a used car salesman(sorry used car salesman) but what's that saying they go by? If there is any money left in the customers pocket at the end of the sale they haven't don't there job. State gives residents money...the bottom feeders as I call them would just up our property values to suck any and all money transfered down to the people...have to control the spending first...I belueve ending property tax will do that.

 

[jake57]

here is one thing that I see with the city of Bismarck and I'm sure there are many more cases like this. the lawn clippings dumpsters has a garbage truck and a guy in a pickup following hm around with a pickup and, a shovel., he can't ride with in the truck