Opinions expressed by Forbes Contributors are their own. I am a Tax Principal with Ernst & Young LLP in the US-West Region. The trust at issue in Fielding was formed under Minnesota law.

State and local taxes you pay are deductible if you itemize on your federal income tax return. But the Tax Cuts and Jobs Act of 2017 capped the state and local tax (SALT) deduction at $10,000 for ...

While NEXUS’ valuation was under review, its owners paid taxes based on the value they believed the pipe was worth, not the state’s assigned ... include Lake Local Schools, Lake Township ...

I discussed Texas franchise tax nexus in a prior post, which can be found here. However, there is a different (albeit similar ...

Finally, the long-sought lifting of the cap on state and local tax deductions seems to have the support it needs in Congress. “I am confident we will get it done,” said Rep. Mike Lawler ...

The 2017 tax reform capped at $10,000 the amount of state and local tax (SALT) payments that can be deducted from federal income taxes. Before then, the unlimited SALT deduction was an unlimited ...

This metric reflects total state and local tax revenues – from income taxes, sales taxes and more – as a share of personal income, based on tax revenue data from the U.S. Census Bureau’s ...

An expansion of the state and local tax deduction cap would be targeted at middle-class taxpayers, not the "ultra wealthy," said New York Republican Rep. Nicole Malliotakis. New York Republican Rep.

The architect of Donald Trump’s 2017 tax law pushed back Wednesday on calls to lift the cap on state and local tax deductions, arguing that doing so would only lead to local Democrats in blue ...