State taxes

Gov. Kevin Stitt wants to tap surplus revenue to build up reserves and is once again asking the legislature to eliminate the state sales tax on groceries and pass an expanded school voucher program.

The $10,000 state and local tax deduction cap is an important issue for high tax states like New York and California and investors who trade paper from those states.

A number of states are taking aim at tax reductions, though some experts view the move as misguided policy.

State spending growth topped 18.2% in FY 2022, the highest annual increase in state spending since the National Association of State Budget Officers began recording the data in 1979.

A Federal appellate court has issued two opinions in the cases of Ohio and Kentucky and Tennessee, and in the latter, agreed the offset provision is unconstitutional.

Jared Polis' $42.7 billion all-funds spending plan for the fiscal year that begins July 1 includes a $16.7 billion general fund with a $2.174 billion reserve.

There are only four statewide bond measures appearing on ballots across the country, the lowest since 2010.

The initiative would have raised income taxes on affluent Californians to benefit local health departments.

The Senate Finance Committee on Tuesday brought small business leaders together to discuss the pitfalls of complying with dozens if not hundreds of local tax regimes.

The latest Congressional effort challenging the state and local tax deduction cap would stop the IRS from restricting state legislation that offsets the policy.

President Joe Biden's $1.7 trillion bill passed the House after months of debate and without any of the municipal bond market's priorities.

The municipal bond market is closely watching proposals from the House and the Senate to overhaul the SALT federal deduction cap.

The SALT deduction cap could be increased, suspended or repealed.

The Remote and Mobile Worker Relief Act would set a 30-day in-state threshold before states could levy income taxes on nonresident workers.

Along with $3 billion of federal aid, Indiana will expects more than $2 billion in additional tax revenue through 2023.

The case has also has fiscal implications for Arkansas, Delaware, Nebraska, New York, and Pennsylvania.

Proposition 19 would change key aspects of the landmark Prop 13.

Gov. Andy Beshear is calling for a 1.8% increase in state spending for fiscal 2021, a plan that relies on sin taxes and sports betting revenue.

Oklahoma saw its economy steadily slowing through 2019, according to Treasurer Randy McDaniel.

John Hicks has left his position as executive director of NASBO to become Kentucky's budget director.