Withum

JULY 4, 2025

One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. Amounts continued to be adjusted until the the state and local tax cap will revert to $10,000 in the 2029 taxable year.

income tax 119

income tax Tax Kentucky Agriculture 119

Withum

JUNE 24, 2025

This results in pass-through business owners avoiding the $10,000 state and local income tax limitation on their pass-through income. Assume for the same taxable year, a New York resident filing as a single taxpayer would have a tax liability of $30,400 related to the $500,000 of pass-through income.

Tax 72

Tax income tax New York corporation tax 72

Withum

JULY 1, 2025

House Bill vs. Senate Bill Comparisons of the major individual income tax provisions in the House bill versus the Senate bill are highlighted below. The Senate bill would allow for an increased $40,000 state and local tax limit in 2025 and increase that amount through 2029, and apply similar modified AGI limitations as the House.

Tax 104

Tax income tax Education tax services 104

Anders CPA

AUGUST 22, 2023

This law provides an income tax credit for taxpayers who hire an intern or apprentice who is paid at or beyond the minimum wage. The credit will expire on December 31, 2029. Anders State and Local Tax advisors keeps a close eye on evolving legislation around tax credits and incentives. Governor Michael L.

Missouri 52

Missouri Tax income tax CPA 52

Withum

MAY 13, 2025

While the bill could face additional adjustments in the Senate, it provides the framework for 2025 tax reform.The significant business income tax provisions are highlighted below. Specified taxes include state and local real property taxes, personal property taxes and income taxes.

Tax 122

Tax income tax Real Estate tax return 122

Withum

MAY 13, 2025

While the bill could face additional adjustments in the Senate, it provides the framework for 2025 tax reform.The significant business income tax provisions are highlighted below. Specified taxes include state and local real property taxes, personal property taxes and income taxes.

Tax 96

Tax income tax Real Estate tax return 96