GOP tax overhaul will be felt by state, local governments

[Judi Lynn]

Source: Associated Press


The Associated Press
 Updated 3:01 pm, Thursday, December 21, 2017

With Congress sending President Donald Trump a tax overhaul, state and local governments are preparing for some fallout.

A look at some of the ways it might affect them:

FEDERAL-STATE CONNECTIONS

The federal tax overhaul will force officials in most states to decide whether to apply similar changes to their own income taxes.

Nearly every state with its own income tax relies on a federal definition of income. About half automatically apply federal tax provisions to their state income taxes unless lawmakers decide against it. In most others, legislators must update state laws to continue linking their tax code to the federal one.

Read more: http://www.chron.com/news/texas/article/GOP-tax-overhaul-will-be-felt-by-state-local-12448077.php

[Maxheader]

1. gee..

Is someone actually starting to worry about lost revenues?

[member12]

2. by design

The states with the highest income taxes are solid blue states. They don't want Democrats deducting their state and local income taxes.