State Tax Alert Update

April 22, 2022 | Tax Reform

Virginia—Corporate, Personal Income Taxes: Worker Training Credit Extended and Expanded Apr. 18, 2022 The sunset date for the Virginia worker training tax credit has been changed from January 1, 2022, to January 1, 2025. In addition, eligible training has been expanded to include courses at any Virginia public institution of higher education. Ch. 431 (H.B. […]

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State Tax Cut Trends

April 20, 2022 | Blog, Tax Reform

April 20, 2022   Major State Tax Proposals/Developments The KENTUCKY General Assembly has handily overridden Gov. Andy Beshear’s veto of House Bill 8. Among other things, the bill will lower the state’s flat income tax from 5 to 4 percent over the next two years and includes triggers to lower the rate further. MAINE Gov. […]

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State Alerts and Updates

April 7, 2022 | Tax Credits, Tax Incentives

West Virginia—Corporate Income Tax: Qualified Rehabilitated Buildings Investment Credit Amended Apr. 6, 2022 West Virginia amended the corporate income tax credit for qualified investments in the rehabilitation of historic buildings to: remove fiscal-year caps on total credits and credits for each project; eliminate the set aside for small rehabilitation projects; and allow phased rehabilitation projects completed after […]

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State Tax Cut Trends – Late Developments

April 6, 2022 | Tax Credits, Tax Reform

April 6th Major State Tax Proposals/Developments GEORGIA lawmakers passed a costly, imprudent bill that will increase personal exemptions, gradually implement a 4.99 percent flat tax rate, and cost over $2 billion annually when fully implemented. The deeply regressive bill will, on average, save the state’s top earners thousands of dollars a year and less than […]

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