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OF SALT, TAXES & MORTGAGES…

Leave a comment Deductions, Donald J. Trump, Expenses Deductions, Filing Status, Form 1040, Income, Income Tax, Income Tax Return, Itemized Deductions, Local Income Tax, Married Filing Jointly, Married Filing Separately, New York Income Tax, New York Property Tax, New York State Tax, News, State & Local Taxes, Tax Cut and Jobs Act, Tax Legislation, Tax News, Taxable Income

OF SALT, TAXES AND MORTGAGES…

Do you pay State and Local Taxes (SALT)? If you live in any of New York, California, New Jersey, Connecticut, or any other of the so-called high-tax states, you likely pay more than the national average in SALT.  Prior to 2018, you were allowed to itemize all of your SALT payments on your federal tax returns.  However, the recently passed law, the Tax Cuts and Jobs Act, curbs the deductibility and otherwise affects you disproportionately, compared with the rest of the country.   The changes to the deduction of State and Local Taxes (SALT) on federal tax returns are generally as follows

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State Property & Sales Tax Climate: Connecticut

Leave a comment Connecticut State Tax Law, Real Estate Related, Sales Tax

The Tax Foundation recently conducted a a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

Connecticut finished 43rd in overall tax climate and it ranked in the individual tax categories as follows: 32 (corporate tax), 37 (individual income tax), 27 (sales tax), 21 (unemployment insurance tax), and 49 (property tax). Connecticut was also ranked 43rd in each of the three preceding years.

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State Corporate Tax Climate: Connecticut

Leave a comment Connecticut State Tax Law, Corporate Tax

The Tax Foundation recently conducted a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

Connecticut finished 43rd in overall tax climate and it ranked in the individual tax categories as follows: 32 (corporate tax), 37 (individual income tax), 27 (sales tax), 21 (unemployment insurance tax), and 49 (property tax). Connecticut was also ranked 43rd in each of the three preceding years.

This is a preview of State Corporate Tax Climate: Connecticut. Read the full post (344 words, 1 image, estimated 1:23 mins reading time)

State Individual Tax Climate: Connecticut

Leave a comment Connecticut State Tax Law, Income Tax

The Tax Foundation recently conducted a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

Connecticut finished 43rd in overall tax climate and it ranked in the individual tax categories as follows: 32 (corporate tax), 37 (individual income tax), 27 (sales tax), 21 (unemployment insurance tax), and 49 (property tax).

This is a preview of State Individual Tax Climate: Connecticut. Read the full post (363 words, 1 image, estimated 1:27 mins reading time)

State Property & Sales Tax Climate: New Jersey

Leave a comment New Jersey State Tax Law, Real Estate Related, Sales Tax

The Tax Foundation recently conducted a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

New Jersey finished dead last in overall tax climate and it ranked in the individual tax categories as follows: 42 (corporate tax), 48 (individual income tax), 45 (sales tax), 25 (unemployment insurance tax), and 50 (property tax).

This is a preview of State Property & Sales Tax Climate: New Jersey. Read the full post (307 words, 1 image, estimated 1:14 mins reading time)

State Corporate Tax Climate: New Jersey

Leave a comment Corporate Tax, New Jersey State Tax Law

The Tax Foundation recently conducted a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

New Jersey finished dead last in overall tax climate and it ranked in the individual tax categories as follows: 42 (corporate tax), 48 (individual income tax), 45 (sales tax), 25 (unemployment insurance tax), and 50 (property tax). New Jersey was also ranked 43rd in each of the three preceding years.

This is a preview of State Corporate Tax Climate: New Jersey. Read the full post (337 words, 1 image, estimated 1:21 mins reading time)

State Individual Tax Climate: New Jersey

Leave a comment New Jersey State Tax Law

The Tax Foundation recently conducted a a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

New Jersey finished dead last in overall tax climate and it ranked in the individual tax categories as follows: 42 (corporate tax), 48 (individual income tax), 45 (sales tax), 25 (unemployment insurance tax), and 50 (property tax).

This is a preview of State Individual Tax Climate: New Jersey. Read the full post (397 words, 1 image, estimated 1:35 mins reading time)

State Property & Sales Tax Climate: New York

Leave a comment New York Property Tax, New York Sales Tax, New York State Tax, New York State Tax Law

The Tax Foundation recently conducted a a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

New York finished 2nd last (49) in overall tax climate and it ranked in the individual tax categories as follows: 7 (corporate tax), 49 (individual income tax), 43 (sales tax), 32 (unemployment insurance tax), and 47 (property tax).

This is a preview of State Property & Sales Tax Climate: New York. Read the full post (356 words, 1 image, estimated 1:25 mins reading time)

State Corporate Tax Climate: New York

Leave a comment New York State Corporate Tax, New York State Tax, New York State Tax Law

The Tax Foundation recently conducted a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

New York finished 2nd last (49) in overall tax climate and it ranked in the individual tax categories as follows: 7 (corporate tax), 49 (individual income tax), 43 (sales tax), 32 (unemployment insurance tax), and 47 (property tax). Prior to 2017, New York was ranked dead last in 2014 and 2015 before modestly rising to 49th in 2016.

This is a preview of State Corporate Tax Climate: New York. Read the full post (322 words, 1 image, estimated 1:17 mins reading time)

State Individual Tax Climate: New York

Leave a comment New York Income Tax, New York State Tax, New York State Tax Law

The Tax Foundation recently conducted a study of the tax climates in each of the fifty states and then rated and ranked them based on five categories: corporate tax, individual income, sales tax, unemployment insurance tax, and property tax. The Tax Foundation’s rankings are designed to show how well state tax systems are structured, rather than simply rank the states by the amount of taxes assessed.

New York finished 2nd last (49) in overall tax climate and it ranked in the individual tax categories as follows: 7 (corporate tax), 49 (individual income tax), 43 (sales tax), 32 (unemployment insurance tax), and 47 (property tax).

This is a preview of State Individual Tax Climate: New York. Read the full post (378 words, 1 image, estimated 1:31 mins reading time)
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