State taxes

Democrats across the U.S. are increasingly exploring taxes as a way to capture the populist moment and address the country's widening wealth gap.

Michigan's main incentive for decoupling was to increase state revenue, as Michigan heavily relies on state income taxes as its largest revenue source.

The carryovers range from some $2.4 million in California and some $1.9 million in Texas to $44,851 in Alaska and $39,297 in Vermont.

As corporate tax teams finalize their 2025 strategies following the One Big Beautiful Bill Act, savvy leaders are already looking ahead to 2026.

Morningstar's study of this growing area of asset management suggests that 529 plan quality is rising, despite the research firm's lackluster grades for it.

For accountants and auditors, the elimination of the penny will affect reconciliation, system configuration and compliance reporting.

A tweak to the deductibility of gambling losses may not bring in a lot of tax revenue, but it could certainly alter a lot of wagers next year.

The American Institute of CPAs has sent a letter to the Multistate Tax Commission recommending changes in a proposed approach to sourcing of partnership income.

The company, part of Malaysia's Genting Group, wants the state to lower its proposed tax rate or raise the levy that may be imposed on the other bidders.

The higher standard deduction since 2017 has dramatically reduced itemization. But the new law provides incentive for teachers to consider whether that's feasible.

Any new taxes to fund his agenda need the backing of the state, and Governor Kathy Hochul has said she's against such hikes.

Voters in 20 states will be asked to weigh in on ballot referendums and measures concerning an estimated total of $3.1 billion in potential tax hikes.

Delaware has long been known as one of the most business-friendly states, but for the past several years, companies have been moving for several reasons.

The doubling of California's film and TV tax credits to $750 million a year is showing promise in bringing production back to the state.

A millionaire levy in Massachusetts has generated $3 billion more in revenue than expected without forcing significant high-profile departures from the state.

The One Big Beautiful Bill Act will boost the number of filers who must calculate their AMT. But that doesn't mean they're all going to have to pay it.

Starting next year, more households will need to calculate or pay the AMT. The rules are complicated. Here's how financial advisors can prepare themselves — and clients — for the changes.

It's time to revisit the $10,000 cap considering a new $40,000 limitation under the OBBBA.

New York State's revenue could feel the impact of the One Big Beautiful Bill Act unless it makes changes in its tax laws.

The use of multiple entities as a means of shifting a high net worth client's yearly income could help rack up bigger breaks, with some caveats.