Tax

A group of taxpayers argue that a property tax increase approved by Austin voters in 2020 for light rail cannot be used to support bonds.

The state asked the U.S. Supreme Court to deny a request to hear arguments seeking to overturn a capital gains tax expected to bring in $500 million annually.

An increase in tax collections helped fuel the flow of billions of excess dollars into the state's previous budget, although growth in key sales tax revenue has slowed.

Large reserves will insulate states against downgrades in the near future, one rating agency says.

While some reliable options have emerged, market professionals remain hopeful the old advance refunding will return before the desire to bring it back loses any momentum.

States use tax proceeds in a way that appeals to voters because recreational marijuana is often legalized through a referendum process.

The National League of Cities found mostly good news for city budgets.

The state's strong reserves contributed to brighter rating outlooks from Moody's Investors Service and, earlier this year, S&P Global Ratings.

Rep. Jim Jordan, R-Ohio, has endorsed a plan that would raise the state and local tax deduction limit to $20,000 for single filers and $40,000 for couples.

City voters will decide Dec. 12 on a proposed one cent, six-year sales tax to fund an at least $900 million arena for the NBA's Oklahoma City Thunder.

California lawmakers have asked the state Supreme Court to block a ballot measure that would radically alter the state's tax structure.

Kevin Stitt ordered a special session to put the state on a path to zero income taxes and consider a proposal sparked by a dispute over Native American taxation.

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.