201711.15

Repeal of SALT Deduction Not Fully Supported by House

by Chanel Christoff Davis in Multi-State, Sales Tax, State Sales Tax Laws

National – The House Republicans’ Tax Cuts and Jobs Bill (HR1) is designed to eliminate the deduction for state and local income and sales taxes for individuals. However, there would be deductions allowed for Property Taxes, up to $10,000 annually. The SALT deductions for businesses will remain in place. The House Democrats have expressed their opposition…

201212.17

Texas Sales Tax Deduction Can Get Lost In The Shuffle

by Chanel Christoff Davis in Compliance, States, Texas

Forty-two states have an income tax, and people in those states can use it as a permanent deduction from their federal taxes. Of course, Texas doesn’t have an income tax, but instead are allowed to deduct their state and local sales taxes. And through 2011, a lot of Texas taxpayers took a deduction for sales…

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