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Why Washington isn’t the model for state tax reform

September 3, 2017
Row houses in Washington D.C.

James Stewart recently published a column in the New York Times called, “For Tax Reform Lessons, Congress Needn’t Look Far.” In the column, Stewart describes how Washington D.C. cut corporate and business taxes in 2014, reduced individual tax rates for everyone earning less than $1 million, and “broadened the tax base by eliminating many loopholes.” Stewart then states that economic growth and tax receipts in the District have…

State Tax

Maryland general fund revenues top $16.7 billion for FY 2017

September 2, 2017
Baltimore Maryland by Bob Burkhard via Unsplash

Maryland closed the fiscal year on a high note with comptroller Peter Franchot announcing Friday that the state’s general fund revenues totaled about $16.7 billion in fiscal year 2017, which is over $90 million above estimates. However, it appears that state leaders aren’t exactly going on a spending spree with the extra money — Franchot “emphasized the need for fiscal caution during these uncertain economic times.”…

State Tax

South Dakota takes on digital retailers in SALT case

August 30, 2017
Bison on prairie photo by Cameron Kirby

The South Dakota Supreme Court heard arguments yesterday in a case that could have a significant impact on how ecommerce is conducted throughout the country. The case,Β South Dakota v. Wayfair Inc. involves the state’s attempt to tax remote internet-based retailers who lack a physical presence in the state. The state’s argument. During oral arguments, the state was in the unusual position of asking the S.D. Supreme Court to…

Daily State Tax

State tax deductions and the Alternative Minimum Tax

June 22, 2017
Photo of 20 dollars by Vitaly, Sand City, United States - via Unsplash

From Frank Sammartino at the Tax Policy Center: “The Complex Relationship Between The State And Local Tax Deduction And The Alternative Minimum Tax.” “The House Republican leadership and the Trump Administration want to repeal the state and local tax (SALT) deduction and the individual Alternative Minimum Tax (AMT). But as policymakers consider the combined proposal, they should be careful about the sometimes-surprising ways they interact with one another.…

Texas

Dallas County Judge Clay Jenkins proposes cutting property tax rate (again)

June 2, 2017
An image of a home by 'Inspiration de' via Unsplash

From The Dallas Morning News, “Dallas County Judge Clay Jenkins proposes cutting property tax rate.” For the second year in a row, Dallas County Judge Clay Jenkins will seek to cut the county property tax rate “to help working families.” Property values across the county rose by 11 percent this year, but after owners protest their assessments, officials expect the final tally to mark a 7.2 percent rise…