May state sales tax receipts shrank by nearly $6 billion, or 21 percent, compared to May 2019, according to data compiled by the Tax Policy Center. State stay-at-home orders, decisions to close businesses, states’ sales tax filing and payment deadline extensions, and COVID-19 cases all contributed to the freefall of sales tax revenues. State sales tax revenue
Month: July 2020
David is CEO of Move, Inc./realtor.com. Realtor.com makes buying, selling, and living in homes easier and more rewarding for everyone. Getty I joined the team at realtor.com back in February, coming from a background in e-commerce and digital marketplaces. I’m pretty sure my experience in those spaces helped me get the job. While approaches vary, nearly everyone
US President Donald Trump delivers a press conference in the Rose Garden of the White House in Washington, DC, on July 14, 2020. Jim Watson | AFP | Getty Images President Donald Trump insisted again Tuesday that the U.S. would have fewer coronavirus cases if it conducted less testing — even as outbreaks continue to
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase is scheduled to report second-quarter earnings before the opening bell on Tuesday. Here’s what Wall Street expects: Earnings: $1.04 per share, a 63% decline from a year earlier, according to Refinitiv. Revenue: $30.3 billion, 2.5% higher
Stock futures climbed higher in overnight trading on Tuesday after Moderna said its coronavirus vaccine produced antibodies in all patients in an early trial, raising hope for a faster economic recovery. Futures on the Dow Jones Industrial Average jumped 300 points, pointing to a 270-point gain at Wednesday’s open. The S&P 500 futures and the
Investor Kevin O’Leary started his first business out of his basement in 1986. In 1999, O’Leary and his co-founders sold the company to the Mattel Toy Company for $4.2 billion. But even if the business had failed, O’Leary says he would have persisted as an entrepreneur. “If starting my first company hadn’t worked out, I would
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Marlene Awaad | Bloomberg | Getty Images JPMorgan Chase managed to throw off the most quarterly revenue in its history at the same time that the U.S. economy is in the throes of a sharp recession. The bank posted $33.8 billion in second-quarter revenue, helping
More and more schools are joining the fight against the Trump Administration over a new rule that may bar international students from studying in the U.S. Now, 59 public and private colleges — including Johns Hopkins University, Stanford University, Duke University and Emory University, as well as every member of the Ivy League — have
By Dr. Jan Gurley, Next Avenue Contributor Getty (The following article represents the views of Dr. Jan Gurley and not the San Francisco Department of Public Health, where she works in communicable disease and prevention during the Covid-19 pandemic. The information included is rapidly evolving and applies to the current situation.) Due to the Covid-19
Atlanta, Georgia, USA Downtown Skyline Aerial. Getty The state of the conservation syndication easement industry brings to mind one of my favorite Kingston Trio songs – Everglades. Where a man can hide and never be found And have no fear of the bayin’ hound But he better keep it movin’ and don’t stand still If
Apartments in Austin, Texas. Getty So far, so good for the apartment business, but there’s a yellow flag on the track. Everybody thought that when forbearance came up, a lot of tenants would stop paying their rent. Well, tenants kept paying their rent—so far. But some of the artificial supports are about to be taken away, and
A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, May 18, 2020. Brian Snyder | Reuters Moderna will begin its late-stage trial testing a potential vaccine to prevent Covid-19 on July 27, according to a posting published Tuesday on ClinicalTrials.gov. The trial will
Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, March 25, 2020. Elijah Nouvelage | Reuters The coronavirus pandemic drove Delta Air Lines to a net loss of $5.7 billion in the second quarter, the biggest since 2008,
Citigroup reported on Tuesday second-quarter results that surpassed analyst expectations thanks in part to a massive surge in trading revenue that helped offset a slowdown in the company’s consumer banking business. Here’s how the company’s results compared to analyst estimates: Earnings: 50 cents per share vs 28 cents per share expected by Refinitiv Revenue: $19.77 billion
Charles Scharf Michael Nagle | Bloomberg | Getty Images Wells Fargo on Tuesday posted its first quarterly loss since the financial crisis as the bank set aside $8.4 billion in loan loss reserves tied to the coronavirus pandemic. The bank had a net loss of $2.4 billion in the second quarter, or a loss of $0.66
U.S. Treasury Secretary Steven Mnuchin walks to the West Wing of the White House on July 9, 2020. Photo by Win McNamee/Getty Images ‘Dramatically different situation’ The employment picture improved over the past two months, as states began reopening their economies. Businesses added 7.5 million jobs to their payrolls over May and June, following a
In this new age of media, podcasts are king. Getty In this new age of media, podcasts are king. They’re entertaining, free, and a great source of information from people who actually (usually) know what they’re talking about. I compiled a list of my favorite podcasts that are perfect for anyone interested in personal finance
Getty In May of this year, David A. Staveley (a/k/a Kurt D. Sanborn) of Andover, Massachusetts, and David Butziger of Warwick, Rhode Island, were accused of conspiring to illegally obtain funds through the Paycheck Protection Program (PPP). The PPP offers billions of dollars in potentially forgivable loans to keep workers on the payroll, guaranteed by the Small Business
The color of your front door can match with other painted elements. Getty Images Are you looking for a low-effort, high-impact project to do this weekend? Few home improvement projects give you a bigger bang for your buck than a freshly painted front door. Yet, this is something that most of us can tackle over
50 Min Ago In June, new home sales jumped 55% annually The month of June saw a 55% jump annually in sales of newly built homes, according to a survey by John Burns Real Estate Consulting. This marks the largest annual gain since the housing boom more than a decade ago, CNBC’s Diana Olick reports.
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