BATON ROUGE, La. (AP) — Talk of “tax reform” has returned to the Louisiana Capitol, with the House and Senate’s Republican leaders making it their central push for the two-month legislative session starting Monday. But reform means different things to different people, and reaching a deal is tricky at best.
FLAGSTAFF, Ariz. (AP) — Flagstaff local Stewart Weinstein ordered an all-electric vehicle to be environmentally friendly, but now says the une…
FLAGSTAFF, Ariz. (AP) — Flagstaff local Stewart Weinstein ordered an all-electric vehicle to be environmentally friendly, but now says the unexpected financial perks of his purchase have already piled up -- before even driving his new car off the lot.
BATON ROUGE, La. (AP) — Plans for $450 million in upgrades to New Orleans' iconic Superdome have been disrupted because of financial troubles caused by the pandemic, the stadium's manager told state lawmakers during a budget hearing Wednesday.
OMAHA, Neb. (AP) — Local governments that want to get a boost in property tax revenue would have to send postcards to notify all of their taxpayers and hold a standalone public hearing where residents could voice their opinion under a bill backed by Nebraska lawmakers.
ALBANY, N.Y. (AP) — The highest-earning New Yorkers would face the nation's steepest income tax rate under a budget lawmakers expected to vote on and pass Tuesday.
MONTGOMERY, Ala. (AP) — A legislative committee on Tuesday advanced a proposal that could allow parents to enroll their children in any school district in the state.
Seven Democratic governors on Friday called on President Joe Biden to lift the $10,000 cap on state and local tax deductions that was a part of former President Donald Trump's massive 2017 tax law, arguing the “assault” disproportionately targeted Democratic-run states and ultimately increased taxes on families.
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FRANKFORT, Ky. (AP) — Kentucky lawmakers passed last-minute spending plans Tuesday to pump money into full-day kindergarten and water projects and to pay off unemployment insurance debts as big-ticket budget items won broad support on the final day of this year's legislative session.
TOPEKA, Kan. (AP) — Kansas legislators are working on a plan for setting aside potentially several hundred million dollars in federal COVID-19 relief funds to pay businesses harmed by state and local restrictions imposed last year to check the virus' spread.
HELENA, Mont. (AP) — Montana's House Appropriations Committee has moved forward with a bill to allocate about $2 billion in federal stimulus money, including financial penalties for local governments, tribes and schools that have stricter COVID-19 guidelines than the state.
OMAHA, Neb. (AP) — Cities that reap millions of dollars in tax revenue from keno bets implored Nebraska lawmakers on Monday to let people play the game on their mobile phones to help bars and keno parlors compete with new casinos slated to open next year.
DETROIT (AP) — A billionaire businessman whose companies have invigorated Detroit's downtown announced a $500 million fund to improve neighborhoods on Thursday, starting with $15 million that will pay off the property tax debt of 20,000 of the city’s poorest homeowners.
LAS VEGAS (AP) — Officials in county that includes Las Vegas have projected an 18% increase to its budget beginning in July, a sign they believe the economy will steadily recover after a downturn caused by the coronavirus pandemic.
BALTIMORE (AP) — Federal prosecutors have launched a criminal investigation into the finances of Baltimore's top prosecutor and her husband, who is city council president.
One of the most controversial provisions of the 2017 Tax Cuts and Jobs Act (TCJA) was the limit it placed on state and local tax (SALT) deductions. The TCJA capped the deduction on combined payments for state and local property, sales, and income taxes at $10,000 beginning in the 2018 tax year.
According to the Joint Committee on Taxation, the SALT deduction cost the government $100.9 billion in potential 2017 tax revenue. The estimated SALT deduction costs for 2020 dropped to $24.443.1 billion. It's a large part of the tax revenue increase that paid for the corresponding tax cuts.
Many taxpayers won't be affected by the SALT changes. However, people in states with high taxes and high property values can easily reach $10,000 from either property taxes or state taxes alone.
How do you know if you'll be affected? Check Schedule A on last year's tax return. If you entered more than $10,000 on line 5d and your tax status hasn't significantly changed, you'll...
Pack Your Bags And Save Thousands On Taxes
One of the most controversial provisions of the 2017 Tax Cuts and Jobs Act (TCJA) was the limit it placed on state and local tax (SALT) deductions. The TCJA capped the deduction on combined payments for state and local property, sales, and income taxes at $10,000 beginning in the 2018 tax year.
According to the Joint Committee on Taxation, the SALT deduction cost the government $100.9 billion in potential 2017 tax revenue. The estimated SALT deduction costs for 2020 dropped to $24.443.1 billion. It's a large part of the tax revenue increase that paid for the corresponding tax cuts.
Many taxpayers won't be affected by the SALT changes. However, people in states with high taxes and high property values can easily reach $10,000 from either property taxes or state taxes alone.
How do you know if you'll be affected? Check Schedule A on last year's tax return. If you entered more than $10,000 on line 5d and your tax status hasn't significantly changed, you'll...
Pack Your Bags And Save Thousands On Taxes
Proposal could make the plant — slated to close — more attractive for buyers.
WASHINGTON — Tribal leaders backed a House bill Wednesday that would give tribes the ability to control more of their land, instead of having …
SEATTLE (AP) — Seattle's highest earners would become the only Washington state residents to pay an income tax under a proposal that is design…
BOULDER, Colo. (AP) — The University of Colorado Boulder has been granted a one-year exemption to the city's new soda tax.
SEDGWICK, Colo. (AP) — Residents of this sleepy little town in far northeast Colorado smile optimistically when talking about the turn their m…
