Tax Reform In The States

Archive Report

Revenue Changes Make Waves in the States

The massive tax reform measure Congress approved in September was touted by its proponents as being designed to make the tax code fairer, by easing the tax burden on middle-income families and shifting more taxes onto business concerns. But now that tax reform is on its way to becoming law, another battle over the fairness issue may be looming. While tax reform may translate into lower federal tax bills for most taxpayers, preliminary computations show that in many states it will mean higher combined state, local and federal income taxes.

Under the Tax Reform Act of 1986, state and local income taxes in jurisdictions where tax laws are coupled to the federal tax code, will rise automatically. This is ...

locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles