Business Taxes, State Budgets, State Taxes

Washington State Budget Triggers Higher Business, Capital Gains and Estate Taxes in 2025

Holland & Knight LLP on 7/16/2025

Thanks to three primary revenue bills that were signed into law earlier this year, taxes are going up in the state of Washington, in particular for large service businesses, estates and individuals earning capital gains. ...more

Ohio Pending Budget Bill reduces individual income tax rates, eliminates sales tax exemptions, and extends business tax credits;...

Buckingham, Doolittle & Burroughs, LLC on 6/30/2025

The Ohio Budget Bill for FY 2026-27 (H.B. 96) was agreed to by the Ohio House and Senate in Conference Committee and now awaits Governor DeWine’s signature. Consistent with the direction commenced a few years ago, the Budget...more

Governor DeSantis Aims to Eliminate Florida Commercial Rent Sales Tax by 2027

Lowndes on 2/5/2025

As part of the proposed $115.6 billion state budget for fiscal year 2025-26, Governor DeSantis has outlined a plan to eliminate Florida's longstanding commercial rent sales tax. This proposal continues Florida's tax reduction...more

New York Tax Continues to Inconvenience Nonresidents Working Remotely

Rivkin Radler LLP on 9/26/2024

Last Friday, New York’s Governor Hochul delivered the following remarks at the annual meeting of the Business Council of New York State:“Someone asked me today, are we going to raise income taxes? I said, ‘I’m not raising...more

Ohio CAT Tax Changes for 2024 and 2025.

Buckingham, Doolittle & Burroughs, LLC on 12/6/2023

Preparing for significant changes to Ohio commercial activity tax for 2024 – Majority of taxpayers will no longer be subject to CAT following increases in annual exclusions. Ohio’s Budget Bill (H.B. 33) significantly...more

A Small Win: Illinois to Phase-Out Franchise Tax

Vedder Price on 6/20/2019

On June 5, 2019, Illinois Governor J.B. Pritzker signed a $40 billion state budget bill into law. Among the various provisions included in the over 300 page budget is a provision providing for the phase-out of Illinois’...more

Governor Murphy’s 2019 Budget: What You Need To Know About The Latest Round Of Tax Hikes

Cole Schotz on 7/5/2018

It was no secret that Governor Murphy ran on a platform heralding an aggressive spending plan of $37.4 billion to fund a lengthy list of entitlements such as hospital and prescription aid, opioid addiction treatment, free...more

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