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The Washington National Tax Office of Grant Thornton points out the most important state and local tax developments to keep an eye out for.
February 13 -
Once primarily an issue for Democrats, GOP gains in New York have made the deduction an issue for them, too.
April 6 -
The Empire State is expanding a tax break that allows smaller companies to circumvent the $10,000 limit on state and local tax deductions.
August 19 -
Senator Joe Manchin and Majority Leader Chuck Schumer have struck a deal on a tax, energy and climate bill, breaking a deadlock on the Democrats’ long-sought legislation to enact major parts of President Joe Biden’s agenda.
July 28 -
Democrat-leaning states argue that the $10,000 SALT cap deduction is politically motivated and violates the U.S. Constitution.
January 4 -
Advocates say they'll continue pushing for the write-off, but it is not widely popular.
December 20 -
Well-off professionals in costly areas of the U.S. are set to get a windfall from competing plans to change the deduction limit for state and local taxes.
November 17 -
The Build Back Better reconciliation bill would raise the SALT cap to $80,000 from $10,000, and that impact varies widely from state to state.
November 12 -
House Democrats in high-tax New York, New Jersey, enlist help from firefighters, teachers and other union members to repeal the $10,000 SALT cap on deducting state and local taxes, including property taxes.
June 24 -
Some taxpayers, including those who aren't millionaires, have been hammered by the limit, writes Bloomberg’s Alexis Leondis.
April 28