Tax-related measures will be on the ballots of at least 23 states on Tuesday, and they could have far-reaching ramifications.
Massachusetts has one ballot measure that would repeal the state income tax entirely. North Dakota will offer voters a measure to reduce personal and corporate income taxes. An Oregon proposal would expand deductibility of federal income taxes. A Colorado initiative would effectively end Taxpayer Bill of Rights spending restrictions.
The Tax Foundation has produced a report with an overview of the various initiatives written by tax counsel Joseph Henchman.
Separately, accounting firm RSM McGladrey has produced a "scorecard" comparing the tax proposals of presidential candidates Sen. Barack Obama, D-Ill., and Sen. John McCain, R-Ariz. The comparisons show how the tax proposals would affect both individuals and businesses. It has been updated as of Oct. 27.
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