Analysis of the “SALT Act”
Lawmakers recently introduced a bill to repeal the $10,000 cap on the state and local deduction (SALT) and raise the top tax rate on ordinary income from 37 percent to 39.6 percent.
4 min read
All Related Articles
The Benefits of the State and Local Tax Deduction by County
Do taxpayers in your area rely heavily on state and local tax deductions? See how the Tax Cuts and Jobs Act tax plan may impact taxpayers in your county.
2 min read
What to Expect from IRS Guidance on SALT Deduction Cap Workarounds
While a few are hoping for a different outcome, most observers expect the IRS to disallow these new, intentional SALT workarounds that have been adopted by New York and a handful of other states.
7 min read
Evaluating the SALT Deduction Constitutional Challenge
Four states have brought a lawsuit against the federal tax bill claiming that its $10,000 cap on the state-local deduction is unconstitutional. Here’s why the lawsuit has little merit.
7 min read
New York, New Jersey, and Connecticut v. the United States: A Preview of the SALT Limit Constitutional Challenge
The threatened lawsuit may be more a political exercise than a legal one, as a judge is unlikely to rule that the SALT deduction cap violates either the Equal Protection Clause or the Tenth Amendment
14 min read
New York Taxpayers Must Pay for Ill-Advised Lawsuit Seeking Tax Cuts for Wealthiest Residents
New York, New Jersey, and Connecticut are pursuing a questionable legal strategy to overturn the cap on a federal tax deduction that benefits the wealthy.
5 min read
More States Considering Dubious SALT Charitable Contribution Workaround
California’s plan to circumvent the new state and local tax deduction cap is dubious, but now Illinois, Nebraska, Virginia, and Washington are considering similar plans.
3 min read
State Strategies to Preserve SALT Deductions for High-Income Taxpayers: Will They Work?
The scramble to restore the full state and local tax deduction for high-income taxpayers has resulted in inventive proposals that, for both legal and practical reasons, are unlikely to succeed.
22 min read
