Some offer a state tax deduction for federal income taxes paid. States are looking at a variety of approaches to adjust their state tax systems for the impact of the TCJA.Mark A. LuscombeAccounting Technology
Even though Homebrewing was made legal by the United States government in 1979, states still reserved the right to regulate the production of beer & spirits in whatever way they saw fit, leaving the the last state to finally make HomeBrewing legal as recently as July of 2013! With each sta...
The Case for Preempting SALT Cap Workarounds A growing number of states are considering or enacting state laws designed to counteract the Tax Cuts and Jobs Act's $10,000 cap on the federal state and local tax deduction. These state workarounds appear technically functional at first... H ...
but like I said before, there was were some raisers also. There was that SALT limitation, that $10,000 cap on the state and local tax deduction, that really impacted a significant number of folks in
Brian D. Galle
state and local taxsection 164horizontal equityBy sheer dollars alone, the largest impact of the Alternative Minimum Tax is to deny many taxpayers the deduction for the taxes they paid to their state and locSocial Science Electronic Publishing...
This Article provides a fine-grained analysis of the overall fairness of the state- and local-tax deduction 驴 and, by implication, the fairness of its partial repeal through the Alternative Minimum Tax. I offer for the first time a close examination of how newly understood limits on taxpayer...
Expanding State Fiscal Capacity, Part I: A New and Improved Consumption Tax Paired with a Tax on a Federal Windfall (the QBI Deduction)Tax PolicyState Tax PolicySALT CapSection 199AEquitable ApportionmentThe Tax Cut and Jobs Act (TCJA) was the most significant piece of federal tax legislation ...
It’s not clear how much the SALT cap hurt Trump, however. Although that particular deduction was capped, Trump claimed many other deductions that limited the amount of federal income taxes he had to pay. Presidential audits The Ways and Means Committee, which is responsible for overseeing the...
It’s not clear how much the SALT cap hurt Trump, however. Although that particular deduction was capped, Trump claimed many other deductions that limited the amount of federal income taxes he had to pay. Presidential audits The Ways and Means Committee, which is responsible for overseeing the...