Are State and Local Income and Property TAXES Akin to Charitable Contributions…An Analysis of an Inequitable Limitation
DOI:
https://doi.org/10.33423/jabe.v21i1.653Keywords:
Business, Economic, TaxationAbstract
In December 2017, President Trump signed H.R. 1 into law the largest tax reform legislation since 1986. As a result of the sweeping changes, the State and Local Tax Deduction has been reduced to $10,000….from an UNLIMITED deduction prior to the new legislation. Unfortunately, there are certain states, where 30-40% of their taxpayers claim an average SALT deduction of $21,000, primarily New York, New Jersey, Connecticut and California (Byerly,2018.) Does the 2017 federal tax overhaul accentuate an inequity in the Internal Revenue Code?
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Published
2019-03-02
How to Cite
Crawford, C. J., Crawford, C. L., & Vallach, G. C. (2019). Are State and Local Income and Property TAXES Akin to Charitable Contributions…An Analysis of an Inequitable Limitation. Journal of Applied Business and Economics, 21(1). https://doi.org/10.33423/jabe.v21i1.653
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