Tax

A letter signed by GFOA, NLC and NACo, expressed concerns over the IRS and Treasury's tax credit election, particularly, complexities around pre-filing and compliance.

New data indicates residents in high tax states are not moving to cut their tax liability.

Extending the tax, which expires at the end of 2025, would raise billions of dollars for transportation projects in the nation's fourth-largest county.

Most states continue to fare well, despite economic shocks and weakening revenue growth.

Mayor David Holt says the city and its NBA team can replace the Paycom Center with a bigger facility without raising taxes.

Energy-producing states are riding out oil and natural gas price swings that affect severance tax collections.

The measure comes after months of dire warnings over the city's looming insolvency.

After months of feuding on how to deliver a massive property tax cut, lawmakers finally passed legislation for an $18 billion package.

Legislative leaders said they agreed to an $18 billion package that includes a reduction in school property taxes and a higher homestead exemption.

The $54.3 billion spending plan for fiscal 2024 is $5.4 billion larger than last year's and $1.2 billion more than the proposal Gov. Phil Murphy pitched in February. It features tax-relief programs and tax code changes.

With no agreement on how to structure a historic property tax cut, Gov. Greg Abbott ordered state lawmakers back for a second special session.

Changes to the direct-pay system provides opportunities for nonprofits to cash in tax credits

As the Republican-controlled state House and Senate remain divided on how to deliver a historic tax cut, the governor vetoed dozens of bills to pressure lawmakers.

The clarifications are predicted to boost bond issuance .

The bill includes provisions to reduce the state's CBT rate and shield some overseas profits from local taxes.

Adjusting the deduction cap for state and local taxes is not included in latest proposals, though advocates for that measure remain hopeful.

Gov. Ned Lamont signed income tax rate cuts expected to benefit nearly 1 million people in the most comprehensive cut since the income tax was imposed in 1991.

The National Association of Bond Lawyers sends letter to non-responsive federal agency

Weakening revenues should be a red flag for states, particularly those planning tax cuts, said Lucy Dadayan of the Urban Institute's Tax Policy Center.

The work from home environment will reduce city property tax collections in coming months and years, analysts say, creating financial issues.