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Blog

Tax Reform Should End the Deduction for State and Local Taxes to Finance Lower Tax Rates

Good tax policy means having low rates and a broad tax base. To finance a reduction in individual and corporate income tax rates and the lowering of capital gains and dividend tax rates to spark economic growth, Congress, which is gearing up for fundamental tax reform, will look for ways to broaden the tax base through the elimination of certain tax loopholes, such as tax credits and deductions, that taxpayers can currently claim when they itemize when filing their tax return.

05/09/2017
The State of State Income Taxes
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Blog

The State of State Income Taxes

Perhaps in response to the Obama administration’s promise of raising taxes to burdensome levels on American taxpayers, some Republican-led states are now considering doing away with their states’ income taxes.  Instead, the states will bring in revenue with increased sales tax and/or by

01/21/2013