New Jersey

In a year of cautious uncertainty around current and ongoing revenues, many state lawmakers strengthened their tax credits for families and children.

It's the first official week of summer, and while many of us are planning vacations, state lawmakers remain busy finalizing and debating tax proposals.

From surcharges on the income of high-earners to higher taxes on second homes, here are recent steps states have taken to tax the rich.

Washington is on its way to making history after the legislature approved the “millionaires’ tax,” a 9.9 percent tax on income over $1 million. The bill, which is expected to raise more than $3 billion a year, making significant investments in public education and childcare, will also expand the Working Families Tax Credit – the […]

State lawmakers are grappling with a range of challenges as their fiscal outlooks deteriorate, federal tax enforcement wanes (after the Trump administration cut the IRS workforce by 25 percent), and a rewritten federal tax code sends states scrambling to decide what changes they might want to make in their own codes.

The results are a mixed bag, with some states enacting promising policies that will improve tax equity and others going in the opposite direction.

They should take steps to protect and boost their own revenues. And they should take a second look at their own tax cuts.

Without sustainable and equitable revenue sources, incoming governor Mikie Sherrill is inheriting a state budget full of fiscal threats. Read more.

The 2025 federal tax law risks making 529 plans more costly for states by increasing tax avoidance and allowing wealthy families to use these funds for private and religious K-12 schools.