MuniLand

Companies are able to retain state income paid by employees in a number of states, says columnist David Cay Johnston in this episode of Reuters Fast Forward. This money, withheld from employee paychecks as state income tax, is retained by companies through deals with the states. Why is this happening, and who really knows about it?

Good Links

Journal of Accountancy: Tax-advantaged investing for an uncertain economy

Reuters: Economists clash on jobs fracking to bring to New York

New American City: New York turns to wikis to encourage transparency and engagement

NJ.com: N.J. politicians preserve their own retirement packages while limiting new workers’

Philly.com: New Jersey joins a list of states considering privatizing their lotteries

Birmingham News: Jefferson County desperately needs help from the state legislature

Bond Buyer: Providence likely to approve pension changes and improve funding level

@Twitter Talk

Muni Market Advisors  @Muni_Mkt_Advis April saw spike in inter-dealer trading vs last 5 years w 20% of trades reported to MSRB this way vs 15% in previous 5 years

Philalawyer @phila_lawyer The disconnected analysts say Meredith Whitney’s call on state finances is wrong. A day in the actual economy proves her deadly accurate.

OK Policy @OKPolicy Number of the Day: Oklahoma ranks 1st in the U.S. for the rate newly hired state employees lose or leave their jobs http://ow.ly/aslo5

Michael Gormley @APgormley Gov Cuomo announces solar power testing lab in Cortland,wind power blade testing center at Clarkson U. In northern NY

Reuters Top News @Reuters Sales-tax deal with Texas is Amazon’s latest http://reut.rs/JLUX0W

NewsTribune JCMO  @NewsTribune Missouri measure would allow loans at casinos http://bit.ly/Ke0VXl

Otis White  @OtisWhite Minneapolis’s bike-sharing program ends its deposit requirement for new customers. Reason: rampant honesty. http://owl.li/aB9HL