State taxes

Republican congressmen from states with high taxes are concerned about the potential loss of the deduction.

The deduction for state and local taxes could be a major stumbling block for reform.

Allies of President Donald Trump say they fear his feud with Republican Senator Bob Corker risks unraveling the White House tax overhaul effort and that another major legislative failure could hobble the administration for the rest of his term.

The White House is showing “softness” on ending a $1.3 trillion federal tax deduction filers get for their state and local taxes, Senator Bob Corker said Monday, warning that it raises questions about the GOP’s “intestinal fortitude” and could imperil a tax overhaul.

Trump isn’t tied to eliminating the break, which is popular in states with high rates, like New York, New Jersey and California.

President Donald Trump’s tax plan suggests that wealthy Americans could be in line for a boatload of breaks. At this point, the rich aren’t buying it.

President Donald Trump’s promised tax overhaul may force dozens of Republican congressmen in states including New York and New Jersey into a politically damaging vote to repeal a $1.3 trillion tax break their districts use heavily.

Here’s what we know about the details of the tax reform plan: almost nothing.

States and localities made nearly 400 sales tax rate changes in the first half of this year, a big jump of over 30 percent from the same period last year.

Internet sellers have been grappling with the murky sales tax implications of online sales for well over a decade.

‘Inventory nexus’ may put clients with online sales at risk of a big sales tax bill.

The explosion of services like Airbnb brings an often overlooked compliance requirement.

Congress examines a proposal that would ‘codify Quill.’

The House passed legislation Tuesday to simplify state income tax rules for employees who travel across state lines.

The Texas legislature has passed a bill granting an exemption to CPA firms allowing them to provide a limited amount of insurance services to clients without being subject to sales taxes.

The U.S. Supreme Court refused to question a Michigan tax change that companies including IBM Corp. and Procter & Gamble Co. say will hit them retroactively with a $1 billion bill.

States are moving away from the physical presence standard for determining nexus, and toward a factor presence standard.

Imagine that you arrive home one day to find a letter from the Internal Revenue Service: “Dear Taxpayer: Although you paid your taxes in full four years ago, Congress has since decided to eliminate a deduction that you took at that time. The deduction was legal when you took it but isn’t legal anymore. We therefore require immediate payment of $10,000, the amount by which you benefited from the deduction that no longer exists.”

With the continued growth of the sharing economy, millions of Americans are utilizing services offered by companies such as Uber and Airbnb, and states are struggling to apply their existing tax laws to transactions for these and other new technologies.

President Donald Trump’s pledge to repeal Obamacare ran into a Republican buzz saw. Now, his ambitious proposal to cut taxes is again encountering GOP opposition—from lawmakers in Democratic-leaning states.