News & Analysis as of

State Taxes State Budgets Tax Reform

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (8/13)

Cozen O'Connor on

Pritzker Signs ‘Sonya Massey’s Bill’ Into Law, Requiring Stricter Background Checks for Police Hiring- “The new law requires law enforcement agencies across Illinois to review all aspects of a person’s background and...more

Holland & Knight LLP

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

Holland & Knight LLP on

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

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

Cozen O'Connor on

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

Dentons

Iowa 2025 Legislative Session – Week 11

Dentons on

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

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

Cozen O'Connor

Illinois Insights Special Edition: 2025 Budget Address Recap

Cozen O'Connor on

On Wednesday, February 19, Governor J.B. Pritzker delivered his seventh annual Budget Address to a joint session of the General Assembly, where he unveiled his $55.2 billion FY26 Executive Budget - marking an approximately $2...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 for financial institutions, aiming to increase tax revenue starting in tax year 2025....more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 16 - February 2025

Wednesday was a rainy day outside the Georgia State Capitol, but the inside of the building was brightened considerably by a few glowing golden retrievers trotting through the halls. Several pups from Children’s Healthcare of...more

Lowndes

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

Lowndes on

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

Brownstein Hyatt Farber Schreck

Maryland Governor Releases 2026 Budget Proposal

Last week, on Jan. 15, Gov. Wes Moore introduced to the Maryland General Assembly his fiscal year 2026 budget package. This $67.3 billion proposal, aiming to close the state’s nearly $3 billion budget gap, places a strong...more

Bowditch & Dewey

Massachusetts Families and Seniors Left Waiting for Massachusetts Tax Reform

Bowditch & Dewey on

On August 9, 2023, Massachusetts Governor Maura Healey signed a $56 billion Fiscal Year 2024 state budget that increases state spending by 6.2% compared to a year ago. However, what was missing from this budget was the highly...more

Harris Beach Murtha PLLC

Massachusetts Tax Law Update - May 2023

On April 13, the Massachusetts House of Representatives approved H.3770, a tax reform bill that includes significant changes for individuals, businesses and estates. The bill is now with the Senate’s Ways and Means Committee,...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

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

Holland & Hart LLP

Utah Legislative Update - November 2019

Holland & Hart LLP on

Tax Reform continues to dominate Utah’s Capitol Hill as the Tax Restructuring and Equalization Task Force has released draft legislation that it may recommend to the entire Legislature for action. In late October, the Task...more

Brooks Pierce

North Carolina Legislative Update - May 2019 #4

Brooks Pierce on

Senate appropriators worked on the budget bill behind closed doors this week and both houses considered a variety of bills prior to leaving for the Memorial Day holiday. Budget Bill (H966) - After passing the House on...more

Brooks Pierce

North Carolina Legislative Update - May 2019 #3

Brooks Pierce on

After two busy weeks culminating in the May 9 bill crossover deadline, Legislators returned this week at a steadier pace. Senate Tax Reform (S622) - The Senate began moving its 2019 tax bill and tentatively approved it...more

Holland & Hart LLP

Tax Reform: Task Force Announced to Examine Taxing Professional Services

Holland & Hart LLP on

The Utah Legislature has announced the members for its tax reform task force. This task force comprises 10 legislators and four non-voting tax experts, including Holland & Hart Tax Partner Steve Young, and is expected to...more

Steptoe & Johnson PLLC

West Virginia Legislative Brief: Commentary from Gil White - January 2019

Steptoe & Johnson PLLC on

...Today marks the completion of the first full week of the 2019 Regular Legislative Session. As Legislators begin this session, they find themselves on better financial footing than in years past. In 2017, there was a $217...more

Holland & Hart LLP

Utah Legislative Update: January 2019

Holland & Hart LLP on

State Budget Projections Show $1 billion in New Revenue - In December, the Governor’s Office, Senate, and House of Representatives jointly released revenue figures for the State’s upcoming fiscal year budget. The numbers...more

Faegre Drinker Biddle & Reath LLP

Minnesota Legislative Update: Two Steps Back

When the Minnesota Legislature convened in February, the state had just announced a modest budget surplus. Lawmakers and Governor Mark Dayton were optimistic that they could reach agreement on a capital investment bill, a tax...more

Dentons

Iowa Legislature Passes Kill-Quill Bill

Dentons on

On May 5, 2018, the Iowa Legislature passed Senate File 2417. It is the most significant Iowa income tax cut bill in recent memory and substantially lowers individual Iowa income tax rates. It conforms to many provisions of...more

Harris Beach Murtha PLLC

The New York State Budget: New Tax Code and Record Funding for Education

The recent passage of the state’s budget, which took effect on April 1, 2018, aims to provide relief to the middle class to combat the change in federal tax law. New York is making a concerted effort to protect...more

35 Results
 / 
View per page
Page: of 2

"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