Tax Reform, State Budgets, Business Taxes

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

Holland & Knight LLP on 7/16/2025

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

Broad Street Brief Special Edition: Council Approves FY26 City Budget

Cozen O'Connor on 6/9/2025

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

Broad Street Brief Special Edition: FY26 City Budget Address Recap

Cozen O'Connor on 3/18/2025

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

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

Lowndes on 2/5/2025

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

Broad Street Brief: FY25 Budget Will Not Include Wage, Business Tax Cuts

Cozen O'Connor on 5/31/2024

FY25 Budget Will Not Include Wage, Business Tax Cuts City Councilmember Isaiah Thomas (At Large) confirmed Thursday that Philadelphia’s FY25 budget will not include cuts to wage or business tax rates. This decision comes...more

N.Y.’s 2018 Budget Proposal: Tax Proposals To Watch

Farrell Fritz, P.C. on 2/21/2017

Last month, Governor Cuomo presented his budget proposal for NY State’s 2017- 2018 fiscal year. Included in the proposal were a number of tax provisions that should be of interest to closely-held businesses and their owners....more

Special Session Ends with Handful of Noteworthy Tax Bills, Predictions for Next Special Session

Bradley Arant Boult Cummings LLP on 8/19/2015

The first Special Session of 2015 ended on Tuesday, August 11, without accomplishing the primary objective of passing a General Fund budget for the 2015-2016 fiscal year. The Governor’s “call” for the special session included...more

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