New York

State legislative sessions are wrapping up, and final tax and budget packages are making their way to governors’ desks.

This week, troubling revenue projections are making headlines, with many lawmakers scrambling to determine how the tax changes at the federal level, plus price hikes driven by national policy decisions, will impact their states.

As states lawmakers continue to weigh their linkages to the federal tax code in light of the recent federal tax law, New Mexico provides a blueprint for limiting multinational corporate tax avoidance.

As many state legislative sessions near or cross the halfway point, lawmakers are facing tough choices.

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.

Trust use is widespread among the wealthiest households, with reports showing that roughly half of the nation’s wealthiest people rely on trusts for tax avoidance reasons

As state legislative sessions ramp up across the country, property taxes are one of many issues dominating tax policy conversations in statehouses.