News & Analysis as of

New Legislation SALT Tax Credits

Brownstein Hyatt Farber Schreck

Impacts from the One Big Beautiful Bill Act: A Guide for City Leaders

The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. Its primary objective is to extend key provisions of the 2017 Tax Cuts and Jobs Act (TCJA), including individual and corporate tax cuts. Beyond tax...more

Jackson Walker

Key Tax Law Changes Under the One Big Beautiful Bill Act: A Comprehensive Overview

Jackson Walker on

The One Big Beautiful Bill Act (OBBBA), enacted in 2025, brings sweeping changes to federal tax law, impacting individuals, businesses, investors, and the clean energy sector. Below is a summary of the major updates, with...more

Nossaman LLP

The OBBB Act | Tax Extensions & Adjustments

Nossaman LLP on

On Friday, July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (H.R. 1) Public Law No: 119-21 (The OBBB Act). The OBBB Act extends and makes permanent many provisions from the 2017 Tax Cuts and Jobs...more

Bilzin Sumberg

Key Tax Provisions in the One Big Beautiful Bill Act: What Individuals and Businesses Need to Know

Bilzin Sumberg on

The enactment of the One Big Beautiful Bill Act (“OBBBA”) on July 4, 2025 is the first key piece of tax legislation passed during President Trump’s second administration. While preserving much of the structure established...more

Gould + Ratner LLP

10 Things a Real Estate Investor Should Know About the Big Beautiful Bill

Gould + Ratner LLP on

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was passed into law and introduced many changes to the tax code and federal spending priorities. The OBBBA has wide-ranging implications for the real estate market. Here...more

Mintz - Tax Viewpoints

The One Big Beautiful Bill Act Signed into Law: Tax Implications at a Glance

Mintz - Tax Viewpoints on

Following our prior alerts on each of the House Ways & Means Committee and Senate Finance Committee versions of the One Big Beautiful Bill Act (OBBBA), the Senate passed its version of the OBBBA on July 1, 2025, returning the...more

Levenfeld Pearlstein, LLC

The One Big, Beautiful Bill’s Key Provisions

President Trump signed into law major tax legislation on July 4, 2025. While the bill itself is almost a thousand pages long, below is a bite-size summary of what you need to know about key provisions: Individual Income and...more

Offit Kurman

Business Tax Law Provisions of the OBBBA

Offit Kurman on

The business tax provisions of the One Big Beautiful Bill Act (OBBBA), as signed by the president on July 4, reflect sweeping changes aimed at incentivizing small businesses, domestic investment, and manufacturing. Outlined...more

Lathrop GPM

Tax Update: One Big Beautiful Bill Act Signed Into Law – What Does It Mean for You?

Lathrop GPM on

On July 4, 2025, President Trump signed into law the massive spending and tax package known as the “One Big Beautiful Bill Act” (OBBBA). The OBBBA makes tax provisions from the 2017 Tax Cuts and Jobs Act permanent, in some...more

Ropes & Gray LLP

2025 Tax Legislation Update: One Big Beautiful Bill Act Narrowly Passes Senate

Ropes & Gray LLP on

The “One Big Beautiful Bill Act” (the “BBB”) was passed by the U.S. House of Representatives on May 22, 2025 (such version, the “House Bill”) as part of the Republican Congress’s reconciliation package. The BBB generally...more

Skadden, Arps, Slate, Meagher & Flom LLP

The One Big Beautiful Bill Act: An Initial Analysis of Key Tax Proposals - June Insights

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would extend or make permanent select corporate, international and individual tax...more

Bond Schoeneck & King PLLC

Top 10 Tax Takeaways From The One Big Beautiful Bill Act

On May 22, 2025, the U.S. House of Representatives passed federal reconciliation bill H.R. 1, commonly known as the “One Big Beautiful Bill Act,” which will now move to the U.S. Senate for consideration. While the U.S....more

Baker Botts L.L.P.

"The One Big Beautiful Bill" Key Tax Takeaways

Baker Botts L.L.P. on

On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”). The BBB makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts and Jobs Act...more

Ropes & Gray LLP

2025 Tax Legislation Update

Ropes & Gray LLP on

On May 22, 2025, the U.S. House of Representatives passed the “One Big Beautiful Bill Act” (the “BBB”) as part of the Republican Congress’s reconciliation package. The BBB generally extends certain tax provisions of the 2017...more

Proskauer - Tax Talks

One Big Beautiful Bill Passed by the House

Proskauer - Tax Talks on

On Thursday May 22, the House of Representatives passed the One Big Beautiful Bill Act (H.R. 1, hereafter the “Bill”). The Bill will now be considered by the U.S. Senate....more

Venable LLP

California Improves Its SALT Cap Work-Around

Venable LLP on

California has revised its existing SALT cap work-around to address and liberalize several of the significant limitations on the work-around that we discussed in our prior alert. On February 9, Governor Gavin Newsom signed...more

Bodman

Michigan Enacts Elective Flow-Through Entity Tax as “SALT Cap Workaround”

Bodman on

On Monday, December 20, 2021, Michigan Governor Gretchen Whitmer signed House Bill (H.B.) 5376 into law.  H.B. 5376, also referred to as Michigan’s “SALT Cap Workaround,” amends the Michigan Income Tax Act to allow...more

Miller Canfield

Michigan Pass-Through Entity Tax Enacted - Quick Action May Be Needed for 2021

Miller Canfield on

Michigan Gov. Gretchen Whitmer signed legislation on December 20, 2021, allowing Michigan pass-through entities to elect to pay a newly enacted 4.25% income tax and for the owners of those entities to claim a tax credit...more

Flaster Greenberg PC

NJ Passes New Workaround Rule for SALT Deductions

Flaster Greenberg PC on

On January 13, 2020, New Jersey Governor Phil Murphy signed into law the “Pass-Through Business Alternative Income Tax Act” (the Workaround Act). The Workaround Act establishes an elective entity level tax on an individual’s...more

Bradley Arant Boult Cummings LLP

Alabama Legislature Passes Bill to Address Calculation of Credit for Taxes Paid to Other States - State & Local Tax Alert: Alabama...

Gov. Kay Ivey signed House Bill 384, into law last Wednesday, March 28, ending a debate that has lasted for almost a decade over the scope of the individual income tax credit for certain taxes paid to other states. ...more

20 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide