Several northeastern states are finally in agreement with regard to the imposition of state and local taxes (SALT). To this end, Connecticut, New Jersey, and…
The Death Knell for SALT Cap Workarounds?
Treasury’s Final Regulations Uphold the $10,000 Cap
The itemized deduction for state and local taxes (SALT) under Internal Revenue Code (IRC) section 164 had long provided relief to taxpayers residing in high…
California State and Local Tax Update
Economic Nexus and Marketplace Facilitators
The Supreme Court's decision in South Dakota v. Wayfair, Inc. [585 U.S. __, (2018)] has driven the most substantive changes to the state and local tax landscape…
The IRS Shutdown of SALT Deduction Workarounds
A Comparison of States
The Tax Cuts and Jobs Act of 2017 (TCJA) included a $10,000 cap on state and local tax (SALT) deductions. That cap has led New…
Two major state and local tax (SALT) issues on the minds of tax professionals and taxpayers are the Tax Cuts and Jobs Act's (TCJA) changes…