Tax

The U.S. Court of Appeals for the Eleventh Circuit denied Treasury's motion for en banc review following its January panel decision that rendered the American Rescue Plan Act's Offset Provision "unconstitutionally unascertainable."

Travelers to the Mountain State gave West Virginia a $7 billion boost in 2022, with spending up 17% from pre-pandemic levels, which outpaced the 1% national recovery rate for the tourism industry.

AI will be part of a new tax-enforcement effort that will target high-income earners, partnerships, and large corporations.

States nationwide saw slower general fund revenue growth in fiscal 2023 after gains the previous two fiscal years fueled by high inflation and federal stimulus.

After years of surplus from COVID-19 related stimulus, state tax revenues declined by 6.7% in nominal terms and 9.4% in real terms in June when compared with a year prior.

State economists announced during a forecast presentation to lawmakers that taxpayers will see a record "kicker" rebate when they file next year's taxes.

The Tax Cuts and Job Act will be up for renewal by the winners of the next election cycle

In a hearing held by the Department of Treasury and Internal Revenue Service, representatives for local governments and public power agencies expressed what they see as essential in getting the most out of the Inflation Reduction Act's tax credits.

Calls the save the tax exemption are sounding as rising U.S. debt to GDP ratios and increased interest rates could point to austerity measures in the near future.

For the three-month period ending June 30, the fund's investments returned about 3.08%.