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Politicians from New York, New Jersey and other high-tax states may be making a lot of noise, but the new $10,000 limit on deductions for state and local taxes, or SALT, isn’t going anywhere any time soon.
March 8
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Some of the states that are paying the highest amounts in federal taxes are also the ones that will be hurt the most by the $10,000 limit on the SALT deduction.
March 7
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Education Secretary Betsy DeVos is riding to the rescue of a private-school tax break that was ensnared in a bitter fight between the Treasury Department and Democratic states that sought to circumvent caps on state and local deductions under the Trump tax overhaul.
March 5
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By setting a $10,000 cap on how much Americans can deduct in state and local taxes Washington created a pricey problem for the privileged in some parts of the country. But even before the law, there were rich people in blue states trying this strategy. Here are a few of the more colorful examples of litigation between wealthy residents who claimed to have moved and jilted states that didn’t quite believe them.
March 4
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New Jersey’s average property tax bill hit a record for a high-cost state whose residents were stung by the cap on deductions for state and local taxes.
February 28
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About 10.9 million people are losing out on one of their most prized tax breaks — the deduction for state and local taxes.
February 26
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High-tax states are trying different strategies to help taxpayers reclaim a lost deduction.
February 26
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New York Governor Andrew Cuomo is rallying a team of governors from fellow high-tax states to push Congress to repeal the cap on deductions for state and local taxes — an effort that looks doomed to fail.
February 25
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The president and the governor will discuss a change in the 2017 tax law that limits the SALT deduction.
February 12
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The president said he would consider changes to a controversial cap on the federal deduction for state and local taxes.
February 7
