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State Budgets Tax Reform

Holland & Knight LLP

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

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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

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

Cozen O'Connor

Pennsylvania Perspective for Thursday, June 26, 2025

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Medicaid Costs Dominate Budget Talks as Deadline Looms- Pennsylvania lawmakers are locked in tense budget negotiations as Governor Josh Shapiro’s (D) proposed $2.5 billion increase in Medicaid funding faces pushback from...more

Cozen O'Connor

Pennsylvania Perspective for Monday, June 23, 2025

Cozen O'Connor on

Budget Talks Intensify as Lawmakers Debate Tax Reform, Transit Funding, Marijuana Legalization - As Pennsylvania’s June 30 budget deadline approaches, the future of several of Governor Josh Shapiro’s (D) proposals—including...more

Cozen O'Connor

Cozen Cities - June 11, 2025

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BOSTON—City Receives $7.4M for Office-to-Residential Conversions -Massachusetts Governor Maura Healey (D) allocated $7.4 million to support two office-to-residential conversion projects in downtown Boston, part of a broader...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (6/9)

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Ethics legislation stalls in Springfield as Senate president tries ‘brazen’ move that would have helped his election case - “In the closing hours of the Illinois General Assembly’s spring session, Senate President Don Harmon...more

Cozen O'Connor

Broad Street Brief Special Edition: Council Approves FY26 City Budget

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On the evening of Thursday, June 5, the Philadelphia City Council granted preliminary approval to several bills related to Mayor Cherelle Parker’s $6.8 billion FY26 City Budget with minimal changes to the initial proposal,...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (6/2)

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Illinois Democrats pass budget in final minutes with sports betting tax hike- “Illinois lawmakers approved a $55.2 billion state budget package minutes ahead of a key constitutional deadline Saturday night, relying on tax...more

Pillsbury Winthrop Shaw Pittman LLP

California Governor Releases 2025 Budget Proposal to Move Banks and Financial Corporations to Single-Sales-Factor Apportionment

The proposal includes a shift to a single-sales-factor apportionment formula for financial institutions, aiming to increase tax revenue starting in tax year 2025. Update: On May 14, 2025, Governor Newsom released the May...more

Brooks Pierce

Brooks Pierce Capital Dispatch: House Passes Budget and New Helene Recovery Bill, Senate Confirms DIT Secretary

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House Passes Budget Bill - The NC House on Thursday passed the biennial budget bill (S 257) by a vote of 86 to 20. The vote was bipartisan with 25 Democrats joining 61 Republicans in supporting the bill. This action...more

Dentons

Iowa General Assembly Adjourns Sine Die

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The first session of the 91st General Assembly of Iowa adjourned sine die just after 6 a.m. on May 15 after a full night of caucuses and debate. Slated for 110 days, the legislature extended 13 days beyond May 2 after...more

Winthrop & Weinstine, P.A.

Legislative Top 5 - May 2026 #3

Governor and Legislative Leaders Agree to Budget Targets - On Thursday of this week, the Governor and legislative leaders announced that they had reached agreement on budget targets, a copy of which can be found...more

Maynard Nexsen

Alabama Legislative Update: Regular Session - Week Eleven

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Birmingham Water Works - On Thursday, the House passed legislation, sponsored by Senator Dan Roberts and Representative Jim Carns, to reform the composition and functionality of the Birmingham Water Works Board. The bill...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (4/21)

Cozen O'Connor on

Democratic state lawmakers start to move on promise to ‘be a check’ on Donald Trump - “With six weeks left in the spring legislative session, lawmakers have a range of measures before them that backers say are necessary to...more

Brooks Pierce

Brooks Pierce Capital Dispatch: Senate Approves Budget Bill and Confirms Two More Secretaries

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Senate Budget bill - The North Carolina Senate on Thursday approved its version of the 2025 Appropriations Act by a vote of 30 to 15. Four Democrats joined twenty-six Republicans in supporting the bill. Fourteen Democrats...more

Spilman Thomas & Battle, PLLC

The Dome Report: Final Review of the 2025 Regular Session of the West Virginia Legislature

The 2025 regular session of the West Virginia Legislature concluded at midnight on April 12. As the dust settled, it became clear that Governor Patrick Morrisey was able to get the majority of his agenda enacted into law,...more

Dentons

Iowa 2025 Legislative Session – Week 13

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Governor Reynolds not seeking reelection - In a video published on Friday, April 11, Governor Kim Reynolds announced that she will not seek reelection in 2026. In the post, Governor Reynolds cited her desire to be with...more

Dentons

Iowa 2025 Legislative Session – Week 11

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Legislators continued to work hard in Week 11 of the 2025 Iowa Legislative Session as the second funnel deadline rapidly approaches. This week featured long caucus meetings followed by floor debate, and the long-awaited...more

Cozen O'Connor

Broad Street Brief Special Edition: FY26 City Budget Address Recap

Cozen O'Connor on

On Thursday, March 13, Mayor Cherelle Parker delivered her second annual Budget Address to the Philadelphia City Council, unveiling her $6.77 billion FY26 Budget proposal—an approximately $400 million increase over the FY25...more

Brownstein Hyatt Farber Schreck

2025 Wyoming Legislative Session Recap

What a wild ride, pardners! Last week, legislators hit the trails back to their home communities, and the dust has finally settled in Cheyenne after yet another unprecedented legislative session....more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 26 - March 2025

March came in like a lion on Monday as the Georgia General Assembly began its blitz toward Crossover Day on Thursday. With over 80 measures slated for hearing in House and Senate committees, state senators began their...more

Cozen O'Connor

Pennsylvania Perspective for Thursday, February 27, 2025

Cozen O'Connor on

PA House Committee Considers EITC to Aid Working Families -Pennsylvania’s House Finance committee is exploring the introduction of an Earned Income Tax Credit (EITC) to support financially constrained working families, though...more

McCarter & English, LLP

New Jersey Governor Phil Murphy’s FY2026 Budget Address: Key Highlights

In his final budget address, Governor Phil Murphy is proposing a $58.05 billion plan, with a strong emphasis on preserving funding for critical priorities while cutting spending on various programs. The address underscores...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 22 - February 2025

Lawmakers and lobbyists watching the Georgia State Senate on Monday saw a lot of green and red, but it wasn’t exactly Christmas. While some state agencies and contractors stand to see a few extra greenbacks in the Senate...more

Winthrop & Weinstine, P.A.

Legislative Top 5 - February 2025 #3

Busy Week at the Capitol - After a turbulent January and early February, activities at the Legislature returned to normal this past week. The halls of the Capitol were filled with people from all over Minnesota as numerous...more

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