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New York Gov. Andrew Cuomo sent letters to the Internal Revenue Service and to Treasury's Inspector General for Tax Administration threatening litigation and and asking for a probe of alleged undue political interference.
September 12 -
Passage of tax legislation in the Senate would require a 60-vote supermajority because the legislation would add to the already burgeoning federal deficit.
September 11 -
The Tax Reform 2.0 legislation includes a permanent cap on the deduction for state and local taxes as well as a higher threshold for the alternative minimum tax.
September 10 -
The bill would make permanent the lower tax rates for individuals and small businesses and the $10,000 federal cap on state and local tax deductions.
September 4 -
The proposed Treasury rules would limit states' use of charitable deductions as workarounds for the $10,000 cap on the federal deduction for state and local taxes.
August 23 -
The Trump administration’s effort to publish a proposed rule comes just over two months after the IRS announced May 23 it was working on the regulations to enforce the $10,000 cap on what previously was an unlimited personal deduction of state and local taxes, also known as SALT.
August 6 -
California reported an $8.5 billion surplus in the budget passed last month.
July 17 -
Eric Papenfuse called for a hiring freeze and renewed scrutiny for all non-essential spending after the state budget did not give him the taxing flexibility he seeks.
June 27 -
Personal income tax and corporation tax receipts exceeded estimates by 16.9% and 62.1% respectively.
February 15 -
The governor wants to neutralize the effects of the new law to make it revenue-neutral for the state government.
January 29