Two States Enact New SALT Cap Workarounds, Six Extend Programs

The US map of pass-through entity tax regimes has changed a lot over the last year, with two states launching programs for the first time and six others extending their statutory sunset dates.

Colorado Scales Back Software and Other Business Tax Exemptions

Colorado Gov. Jared Polis (D) signed legislation repealing a series of business tax exemptions to raise revenue for an expanded working families tax credit and balance out revenue gaps resulting from President Donald Trump’s 2025 tax law.

Newark Loses Dispute Over NJ Township’s Property Tax Valuation

Newark, N.J., isn’t entitled to a reduced property tax assessment on land it owns in a nearby town despite restrictions on the land’s future development, the state appeals court ruled Monday.

NYC Pitches Property Tax Reform to Settle Lengthy Court Case

After years of complaints over unfair bills, New York City said it’s willing to change how it calculates property taxes as it seeks to end a nearly decade-long legal battle.

Missouri Court Allows Income Tax Ballot Measure, With Tweaks

Missouri voters will get a chance to weigh in on a proposal to eliminate the state income tax after a state appeals court held that the ballot measure is constitutional.

Tax Developments

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Arizona Amends Property Tax Exemptions for Disabled Veterans

The Arizona Governor signed a law amending property tax exemptions for veterans with disabilities, widows, widowers, and persons with total and permanent disabilities. The bill expands the definition of competent ...

Minnesota Amends Tax Statutes, Creating Premiums Tax Credit in Omnibus Bill

The Minnesota Governor signed a law amending multiple sections of Minnesota Statutes through a omnibus bill addressing financial services regulation, healthcare oversight, fuel quality standards, gaming provisions, and tax matters. ...

Connecticut Makes Changes to Unclaimed Property Law

The Connecticut Governor signed a law that includes: 1) defining an “apparent owner” for purposes of the unclaimed property law to include an agent or other representative of the apparent ...

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Matt Levine’s Money Stuff: No SpaceX in the S&P

Matt Levine discusses universal basic AI stocks, public markets are the new private markets because of their reliance on private markets, an ETF tax break, and some of the potential of prediction markets.

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