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 […]
Mississippi—Corporate, Personal Income Taxes: Rural Economic Development Credit Extended Mar. 30, 2022 The sunset date for the Mississippi rural economic development credit that may be claimed against corporate and personal income taxes is extended to October 1, 2025. The credit was previously scheduled to sunset on October 1, 2022. S.B. 2846, Laws 2022, effective July […]
March 31, 2022 While the end-of-session surprises will likely let up soon, one thing that is not surprising is Fitch Ratings’s analysis of 2022 state tax cut plans, as they note that there could be serious effects if states are unable to sustain current levels of revenue growth. Major State Tax Proposals and Developments The […]
March 23, 2022 Major State Tax Proposals and Developments A MAINE bill that would limit big box retailers’ ability to mount “dark store theory” legal challenges has now been approved in the Senate in addition to the House. The bill would require that towns and cities base property assessments on the highest and best use. […]
March 16 A special session could be called soon in ARIZONA, as Republican lawmakers aim to override a voter-led veto referendum that is blocking the almost $2 billion income tax cut plan they passed in 2021 from going into effect. The goal would be to repeal the plan from last year and replace it with […]
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