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New Legislation State Taxes Tax Rates

Flaster Greenberg PC

Changes to “Mansion Tax” and “Controlling Interest Transfer Tax” in New Jersey

Flaster Greenberg PC on

Signed into law by Governor Murphy on June 30, 2025 (effective July 10, 2025), New Jersey Bill S4666 made significant changes to New Jersey’s transfer taxes....more

Amundsen Davis LLC

Missouri Eliminates Income Tax on Capital Gains for Individuals

Amundsen Davis LLC on

On July 10, 2025, Missouri Governor Mike Kehoe signed into law House Bill 594 (the “Bill”), which effectively eliminates the capital gains income tax for individuals and an income tax deduction for corporations. Capital gains...more

Fox Rothschild LLP

Sticker Shock at Closing Tables for Dealership Sellers

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Selling an auto dealership in New Jersey just got more expensive — and more complicated. As of July 10, 2025, changes to New Jersey’s so-called “Mansion Tax” have shifted the burden of this transfer tax onto the seller. A...more

Troutman Pepper Locke

New Jersey Increases Mansion Tax Rates and Shifts Payment Obligation to Sellers

Troutman Pepper Locke on

On June 30, Governor Phil Murphy signed Bill A5804 into law, amending N.J.S.A. § 46:15-7.2-7.4; N.J.S.A. § 54:15C-1, and introducing significant changes to New Jersey’s realty transfer tax structure. These changes — effective...more

Cole Schotz

New Jersey’s Latest Budget Has Sweeping Changes to the Mansion Tax

Cole Schotz on

The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial...more

Bressler, Amery & Ross, P.C.

New Jersey Modifies Mansion Tax on Sales of Real Property

The New Jersey state legislature has passed new legislation, as part of the State’s 2026 fiscal year budget, that directly and significantly impacts sellers and buyers of real property in New Jersey. Previously, a 1% fee...more

Buckingham, Doolittle & Burroughs, LLC

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

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

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

Lasher Holzapfel Sperry & Ebberson PLLC

New Washington Estate Tax Law Raises Exemption, Hikes Rates for Wealthy

Since 2018, estate planning legislation in Washington has remained stagnant. Increases in our legislated estate tax exemption rate had been tied to a Consumer Price Index that no longer existed, and the legislature largely...more

K&L Gates LLP

Recent Changes to Washington State Tax Laws Will Increase Taxes for Many Taxpayers

K&L Gates LLP on

In May 2025, Washington Governor Bob Ferguson signed into law several bills that will impact both individual and business taxpayers. Although the changes are likely to increase many taxpayers’ Washington tax bills, some...more

Fox Rothschild LLP

Changes in Washington State Tax Law Will Impact Businesses

Fox Rothschild LLP on

Washington recently enacted major tax law changes that will affect many businesses operating in the state. Here’s what you need to know: Changes to the Definition of Incidental Investment Income - Washington law now...more

Perkins Coie

Washington Tax Changes 2025: Capital Gains, Estate Tax Increases, and Wealth Tax Update

Perkins Coie on

Washington concluded an eventful legislative session with the largest set of tax increases in the state's history. This Update focuses on two significant changes that affect Washington residents and a senate bill proposal...more

Freeman Law

“One Beautiful Bill Act” | Tax-Related Provisions

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President Donald Trump’s “One Big Beautiful Bill Act” recently passed the House. Below are some, but not all, of the tax-related provisions included in the bill. It is worth noting that many of the items below are temporary...more

Stoel Rives LLP

2025 Washington Tax Legislation Wrap-up

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Faced with a projected $16 billion deficit over the next four years, Washington Governor Bob Ferguson formally signed into law on May 20, 2025, a $78 billion 2025-2027 state biennial operating budget and a final tax package...more

Eversheds Sutherland (US) LLP

The worst of the worst: Washington expands its B&O and sales taxes

On May 20, 2025, the last day for bill signing, Washington Governor Ferguson signed two key tax bills that expand the sales tax to include additional services and increase the rates of the (awful) business and occupation...more

Ballard Spahr LLP

WA Estate and Capital Gains Tax Changes Under SB 5813

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Facing a projected budget deficit of $12 to $16 billion, Governor Bob Ferguson signed several bills into law this week which will significantly increase taxes in Washington State. An overview of the increases to Business and...more

Ballard Spahr LLP

Washington State Passes Significant Tax Increases Affecting Both Businesses and Consumers

Ballard Spahr LLP on

Sweeping legislative changes are reshaping Washington state’s tax landscape. On May 20, 2025, Washington’s governor signed legislation significantly increasing the Business and Occupation (B&O) tax, sales tax, and more,...more

Fox Rothschild LLP

Washington State to Raise Capital Gains, Estate Tax Rates

Fox Rothschild LLP on

By June 7, 2025, Gov. Bob Ferguson is expected to sign legislation into law that would increase funding for Washington State's Education Legacy Trust Account (ELTA) by raising the capital gains and estate tax rates. ...more

Nutter McClennen & Fish LLP

Key Considerations When Planning for the Massachusetts ‘Millionaires Tax’

On November 8, 2022, Massachusetts voters approved an amendment to the Massachusetts Constitution imposing, effective January 1, 2023, a surtax of 4% on an individual’s annual taxable income to the extent it exceeds $1...more

Parker Poe Adams & Bernstein LLP

South Carolina Passes Targeted Tax Reform Legislation

The South Carolina General Assembly passed tax reform legislation providing targeted relief to individuals and to manufacturers, including (i) a one-time rebate of up to $700 in 2021 taxes for individuals; (ii) cuts to the...more

Foster Garvey PC

Maryland’s New Tax – The Nation's First State Tax on Digital Advertising

Foster Garvey PC on

Maryland recently enacted the nation’s first tax on digital advertising. The new tax, the Digital Advertising Gross Revenues Tax (the “Tax”), became law on February 12, 2021. The Tax has been surrounded by controversy from...more

Kelley Drye & Warren LLP

Maryland's Controversial Tax on Digital Advertising Explained

On February 12, 2021, the General Assembly of the State of Maryland enacted legislation imposing the Digital Advertising Gross Revenues Tax, overriding a prior veto of the legislation by Maryland Governor Larry Hogan. The Act...more

McDermott Will & Schulte

Gross Receipts Taxes Face Policy and Legal Challenges

As the economy shifts to a digital one, we are finding that states are turning toward unconventional revenue options. One trend we’re seeing is the surprising comeback of the gross receipts tax (GRT): • Oregon’s new...more

McDermott Will & Schulte

Batten Down the Hatches: Digital Tax Nor’easter Coming This Fall

Recently passed budget legislation in both Connecticut and Rhode Island included tax increases on sales of digital goods and services. The Connecticut bill has been signed into law. The Rhode Island bill passed late last...more

Foster Garvey PC

Oregon’s New Corporate Activity Tax

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We are taking a break from our multi-post coverage of Opportunity Zones to address a recent, significant piece of Oregon tax legislation. On May 16, 2019, Governor Kate Brown signed into law legislation imposing a new...more

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