state and local tax deduction

Victory for Trump Tax Reform: Federal Court Upholds State, Local Deduction Limits

Victory for Trump Tax Reform: Federal Court Upholds State, Local Deduction Limits

A key provision of the Trump tax cuts has survived a challenge from high tax Blue States that claimed they were unfairly targeted.
SALT Cap Sparks Debate Over Which Party Cares About the Middle Class

SALT Cap Sparks Debate Over Which Party Cares About the Middle Class

The debate about the cap on federal deductions for state and local taxes has flipped the tables for lawmakers: Democrats are advocating for a large cut that would primarily benefit the wealthy.
SALT Cap Repeal Would Be $40 Billion Windfall for Millionaires

SALT Cap Repeal Would Be $40 Billion Windfall for Millionaires

More than half of the benefit of repealing the $10,000 deduction cap for state and local taxes would go to millionaires, according to Congress’s nonpartisan tax scorekeeper.
It’s Over: States Lose Fight Against SALT Deduction Cap

It’s Over: States Lose Fight Against SALT Deduction Cap

New York, New Jersey and Connecticut have been fighting a new cap on state and local tax deductions ever since it was included in the 2017 Republican tax overhaul.
Treasury Deals Final Blow to SALT Cap Workarounds in High-Tax States

Treasury Deals Final Blow to SALT Cap Workarounds in High-Tax States

The Treasury Department dealt the final blow to programs in states like New York and New Jersey designed to help residents circumvent the $10,000 limit on deductions for state and local taxes.
Four States Claim Federal Tax-Deduction Cap Infringes Rights

Four States Claim Federal Tax-Deduction Cap Infringes Rights

Four Democratic-led northeastern states sued the Trump administration to invalidate the new $10,000 cap on the federal tax deduction for state and local taxes that they say unfairly targets them.
Million-Dollar Home Values Gain Even as Tax Deductions Shrink

Million-Dollar Home Values Gain Even as Tax Deductions Shrink

Adam Blaylock was pretty sure he overpriced his Santa Clara, California, home by offering it in February for $1.48 million, since tax deduction changes would keep buyers away. But within a week, the
April 2019 Tax Bills May Catch Some Americans Off Guard

April 2019 Tax Bills May Catch Some Americans Off Guard

Most Americans will owe less in taxes as a result of President Donald Trump’s overhaul of the U.S. tax code, but in a few jurisdictions, about one in 10 will be paying more, according to an analysis
New Jersey’s Riskiest Budget in a Decade Counts on Tax-Shy Contingent

New Jersey’s Riskiest Budget in a Decade Counts on Tax-Shy Contingent

Governor Phil Murphy’s progressive agenda, outlined in his first New Jersey budget, depends on approval of $1.5 billion in new riches from Democratic lawmakers reluctant to increase residents’
N.J. Senate Supports Property Tax as Annual Charitable Write-Off

N.J. Senate Supports Property Tax as Annual Charitable Write-Off

New Jersey took the first step toward allowing residents with the nation’s highest property taxes to circumvent a new federal limit on state and local tax deductions.
Democrats Counter GOP Tax-Cut Pitch by Warning of Long-Term Pain

Democrats Counter GOP Tax-Cut Pitch by Warning of Long-Term Pain

As voters complete their tax returns this year, Kelly Mazeski and other Democratic candidates in high-income, high-tax congressional districts want them to be thinking about the possible pain ahead.

How New Jerseyans Can Keep Their Property Tax Breaks Amid New Trump Law

New Jersey property owners worried about losing their tax breaks may have nothing to fear after all.
State Tax Workarounds Could Mean $154 Billion Lost to Treasury

State Tax Workarounds Could Mean $154 Billion Lost to Treasury

New York state lawmakers could punch a $50.6 billion hole in the federal government’s budget by revamping their state income tax.
Business Groups Spent Big on Lobbying During the Tax Overhaul

Business Groups Spent Big on Lobbying During the Tax Overhaul

Three groups seeking to influence the most extensive changes to the American tax code since the 1980s spent more than $56 million on their lobbying efforts in the last three months of 2017, according
Trump’s Tax ‘War’ May Not Be as Bad as the Blue States Think

Trump’s Tax ‘War’ May Not Be as Bad as the Blue States Think

As elements of the plan come into focus, tax experts are concluding that some of the most dire predictions for high-tax blue states may not pan out as feared.

NY Lawmakers Launch Bipartisan Effort to Restore State and Local Tax Deduction

Two lawmakers on different sides of the political aisle are teaming up to bring back the state and local tax deduction.
New Jersey's Incoming Governor Joins Tax Fight as Cohn Hints at Pushback

New Jersey's Incoming Governor Joins Tax Fight as Cohn Hints at Pushback

New Jersey’s governor-elect joined a chorus of leaders in Democratic states who are proposing workarounds for their residents to avoid new caps on state and local tax deductions, even as a top Trump
Gary Cohn Says Government May Push Back Against State Tax Workarounds

Gary Cohn Says Government May Push Back Against State Tax Workarounds

The Trump administration may try to block potential plans by high-tax states including New York and California to shield residents from state and local tax break changes, according to White House

Andrew Cuomo Says New York Will Sue Donald Trump Over Tax Plan

Andrew Cuomo assailed Donald Trump's tax plan, saying it violates states' rights.
State Governments Are Already Gaming the Republican Tax Overhaul

State Governments Are Already Gaming the Republican Tax Overhaul

If state lawmakers succeed in working around the new cap on SALT deductions, federal tax collectors would miss out on revenue they’re depending on to fund the corporate tax cuts at the center of the