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State and Local Tax (SALT) Predictions for 2024

CPA Practice

We predict that at least two more states will enact elective PTE taxes, despite the looming expiration of the federal SALT cap. Income tax rate fluctuations States are facing a very uncertain and non-uniform fiscal environment at the moment, affording some, but by no means all, states the ability to reduce state income tax rates.

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The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals

ThomsonReuters

Business Tax Professionals. The tax rules and regulations U.S. These are not simple regulations,” Oaks said, noting that the new business interest regulations alone were more than 800 pages long. “On States have seen a dramatic increase in expenditures while also seeing decreases in tax revenue.”. “If