News & Analysis as of

Tax Deductions State and Local Government Tax Legislation

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

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

Brooks Pierce

North Carolina Legislative Update - January 2020

Brooks Pierce on

After holding a one-day session in Raleigh on Jan. 14, North Carolina Legislators have left town and will return on April 28. Budget Bill - An impasse over the budget bill (H966) was not resolved this week as the...more

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