News & Analysis as of

State and Local Government SALT Tax Reform

Jackson Walker

One Big Beautiful Bill Act Increases Deduction for State and Local Tax but Fails to Address Nexus Concerns

Jackson Walker on

In welcome news for individual taxpayers, the One Big Beautiful Bill Act temporarily increases the “SALT cap” – the limit on the amount of the income tax deduction for state and local income, sales, and property taxes – from...more

Pillsbury Winthrop Shaw Pittman LLP

Taxmageddon: What to Expect under Trump 2.0 and a GOP-Led Congress

With the Trump administration and a Republican-controlled Congress now in office, significant changes to the U.S. economic landscape and tax policy are expected. Indeed, legislation to change tax policy and to implement...more

Eversheds Sutherland (US) LLP

SALT Scoreboard - Quarter 4, 2024

This is the fourth edition of the Eversheds Sutherland SALT Scoreboard for 2024. Since 2016, we have tallied the results of what we deem to be significant taxpayer wins and losses and analyzed those results. Our entire SALT...more

Seward & Kissel LLP

State Taxes: What to Expect in 2025

Seward & Kissel LLP on

A changing tax landscape is on the horizon for the new year. Many of the provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) are scheduled to expire at the end of the year. President-elect Trump has also proposed a variety...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

Shumaker, Loop & Kendrick, LLP

South Carolina Enacts SALT Cap Workaround

South Carolina recently joined the growing number of states to enact legislation that provides a state workaround to the $10,000 State and Local Tax (SALT) federal income tax deduction cap imposed on individual taxpayers by...more

Akerman LLP - SALT Insights

Updated: Maryland’s Latest Attempt to Fix its Digital Ad Tax May Lead to More Litigation

Shortly after Maryland passed the country’s first “Digital Advertising Gross Revenues Tax”, H.B. 732, the Maryland Senate went to work attempting to fix a few known glitches in the law. Senate Bill 787, which passed the...more

Akerman LLP - SALT Insights

Maryland’s Latest Attempt to Fix its Digital Ad Tax May Lead to More Litigation

Shortly after Maryland passed the country’s first “Digital Advertising Gross Revenues Tax,” H.B. 732, the Maryland Senate went to work attempting to fix a few known glitches in the law. ...more

Bilzin Sumberg

Moving to the Sunshine State: Change of Domicile Planning Considerations

Bilzin Sumberg on

Florida has long been known as a hot-spot for retirees and snowbirds to move for its sunny weather and beautiful beaches. In recent years, however, since the "SALT Deduction Cap" established by the 2017 Tax Cuts and Jobs Act...more

Morgan Lewis

State and Local Tax Responses to Covid-19 (UPDATED)

Morgan Lewis on

Alabama: The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales during...more

Sullivan & Worcester

Key Tax Provisions in the Massachusetts FY21 Budget

Sullivan & Worcester on

On December 11, 2020, Massachusetts Governor Charlie Baker signed the Commonwealth’s FY21 budget into law. While the $45.9 billion budget does not raise taxes, it includes a number of significant tax provisions summarized...more

Morgan Lewis

State and Local Tax Responses to Covid-19 (UPDATED)

Morgan Lewis on

Alabama: The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales during the...more

Morgan Lewis

State and Local Tax Responses to Covid-19 (UPDATED)

Morgan Lewis on

Alabama - The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales...more

Morgan Lewis

State and Local Tax Responses to Covid-19 (UPDATED)

Morgan Lewis on

Alabama - The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales during...more

Morgan Lewis

NJ Enacts Elective Pass-Through Business Tax to Limit Federal Cap Impact on SALT Deduction

Morgan Lewis on

New Jersey recently enacted the “Pass-Through Business Alternative Income Tax Act,” which allows pass-through businesses with at least one member liable for the New Jersey gross income tax to make an election to pay income...more

Pierce Atwood LLP

Maine Revenue Services Alerts Taxpayers That Amended 2017 Returns May Be Required

Pierce Atwood LLP on

Maine Revenue Services (MRS) issued guidance late last week responding to the state’s recently-enacted tax conformity legislation. ...more

Harris Beach Murtha PLLC

New York State among Four States to Sue Federal Government over State and Local Taxes

Earlier today July 17, 2018 New York State was among four states to sue the federal government over State and Local Tax (SALT) deductions being capped at $10,000 as part of recent federal tax law changes. Joining New York in...more

Proskauer - Tax Talks

State Tax Law Updates

Proskauer - Tax Talks on

A number of states have recently proposed or passed new laws related to state-level taxation, some of which are taxpayer-friendly and some of which are expected to impose additional tax burdens on taxpayers. They vary in...more

Pullman & Comley, LLC

Are Connecticut Income Taxes Now Tax Deductible For The Owners Of Pass-Through Entities?

Pullman & Comley, LLC on

June 5, 2018 The Tax Cuts and Jobs Act, which was passed by Congress last year, imposed a $10,000 limit on state and local tax (“SALT”) deductions. ...more

Schwabe, Williamson & Wyatt PC

Tax Reform: What Does the Tax Cuts and Jobs Act Mean for the Healthcare Industry?

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Holland & Knight LLP

The New Tax Law: Impact on Illinois Local Governments

Holland & Knight LLP on

The new tax reform law – the Tax Cuts and Jobs Act – has been extensively reported in a variety of media outlets. Most discussions focus on the reduction in individual and corporate tax rates, the availability of deductions...more

Schwabe, Williamson & Wyatt PC

Summary of Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Foley & Lardner LLP

How Proposed Tax Reform Will Impact Private Equity

Foley & Lardner LLP on

Both the House of Representatives and the Senate have proposed their own versions of tax reform (the “House Proposal” and “Senate Proposal”, respectively, and together, the “Proposals”) which will drastically change the...more

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