Tax Law

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State Net Capitol Journal – March 5th, 2012
Posted on 5 Mar 2012 by State Net

Budget & Taxes STATES DIVERTING FORECLOSURE SETTLEMENT MONEY: Last month, the nation's five largest mortgage lenders signed a $25 billion settlement with the attorneys general of 49 states addressing loan servicing abuses that contributed to... Read More

State Net Capitol Journal -- December 20, 2011
Posted on 20 Dec 2011 by State Net

Budget & taxes NY RAISES TOP TAX RATE: This month New York Gov. Andrew Cuomo (D) agreed to do what he had repeatedly said he would not: raise taxes on his state's highest earners. Under the agreement passed by the Legislature, those making over... Read More

State Net Capitol Journal – June 11, 2012
Posted on 11 Jun 2012 by State Net

Budget & Taxes NC AGENCY LIFELINE FOR LOCAL GOVERNMENTS: North Carolina has the fourth highest state unemployment rate in the nation, according to the Bureau of Labor Statistics' April rankings. But unlike other states with job markets that... Read More

State Net Capitol Journal -- January 23rd, 2012
Posted on 24 Jan 2012 by State Net

BUDGET & TAXES INTERNET GAMBLING MAY NOT PROVIDE JACKPOT FOR STATES: The ruling last year by the Department of Justice authorizing New York and Illinois to sell lottery tickets to their residents via the Internet signaled a major shift in the... Read More

State Net Capitol Journal – April 2, 2012
Posted on 2 Apr 2012 by State Net

Budget & Taxes PENSION SANCTITY MAY BE TESTED IN CA BANKRUPTCY: Financially troubled Stockton, California is currently in mediation with its creditors to determine whether it will file for Chapter 9 bankruptcy. The bankruptcy process is typically... Read More

Budget & Taxes – State Net, October 3rd, 2011
Posted on 3 Oct 2011 by State Net

GRANHOLM'S ECONOMIC WARNING FOR NATION: Years before the start of the Great Recession, Michigan was struggling with its own economic downturn, precipitated by the decline of the U.S. auto industry. The state's economy doesn't look quite... Read More

State Net Capitol Journal – April 23, 2012
Posted on 23 Apr 2012 by State Net

Budget & Taxes A TALE OF TWO TAX STRUCTURES AND ONE CITY: Which is worse: high income taxes or high sales taxes? That's a question residents of the metropolitan area of Portland, Oregon ponder fairly regularly. Oregon has no sales tax... Read More

State Net Capitol Journal October 17, 2011
Posted on 17 Oct 2011 by State Net

A TALE OF TWO ECONOMIC POLICIES: Four years ago, Nebraska Gov. Dave Heineman (R) enacted the largest tax cut in his state's history. The state now has the country's second lowest unemployment rate, at 4.2 percent. In May, Connecticut Gov. Dannel... Read More

State Net Capitol Journal – April 9, 2012
Posted on 9 Apr 2012 by State Net

Budget & Taxes RISKY PENSION INVESTMENTS NOT PAYING OFF: Hoping to boost their investment returns and shrink looming deficits, public pension systems across the nation have been turning to riskier investments, such as private equity and hedge funds... Read More

Budget & Taxes: State Net, October 24, 2011
Posted on 24 Oct 2011 by State Net

ND WEIGHS DOING AWAY WITH PROPERTY TAXES: In stark contrast to most of the rest of the country, times are pretty good in North Dakota. So good, in fact, the state is considering becoming the first in the nation to abolish property taxes. Spurred by the... Read More

State Net Capitol Journal – April 16, 2012
Posted on 16 Apr 2012 by State Net

Budget & Taxes CT PULLS PLUG ON MANAGED CARE FOR MEDICAID: The way states used to pay doctors and hospitals for treating Medicaid patients was by directly reimbursing them for the services they rendered. But spurred by criticism that the so-called... Read More

State Net Capitol Journal - May 21, 2012
Posted on 23 May 2012 by State Net

Budget & taxes CONGRESSIONAL REPUBLICANS CALL OUT STRUGGLING US STATES: As economic turmoil returned this month to Greece and Spain, key Republicans in Congress issued a tough message for struggling U.S. states. "Recent experience on Wall Street... Read More

State Net: Budget & Taxes, December 5, 2011
Posted on 5 Dec 2011 by State Net

SUPERCOMMITTEE STALEMATE SETS UP AUTOMATIC CUTS: As part of the deal reached by Congress in August raising the federal debt ceiling, a bipartisan supercommittee was charged with the Herculean task of figuring out by November 23rd how to reduce the federal... Read More

State Net Capitol Journal – March 19th, 2012
Posted on 19 Mar 2012 by State Net

Budget & Taxes WV COMMITS TO PAYING DOWN PENSION DEBT: West Virginia's unfunded pension liability - estimated at $10 billion last year - is one of the highest per capita in the nation. But the state became a standout on the issue in a very... Read More

State Net Capitol Journal -- January 9th, 2012
Posted on 9 Jan 2012 by State Net

Budget & taxes STATES SEEKING BIGGER PENSION FUND RETURNS: Over the past few years, states have been cutting pension benefits for public workers in an effort to get a handle on unfunded pension liabilities estimated at between $1.26 trillion... Read More

  • Blog Post: Budget & Taxes – State Net, October 3rd, 2011

    GRANHOLM'S ECONOMIC WARNING FOR NATION: Years before the start of the Great Recession, Michigan was struggling with its own economic downturn, precipitated by the decline of the U.S. auto industry. The state's economy doesn't look quite as bad now, if only because the fiscal health of...
  • Blog Post: Budget & Taxes--State Net October 10, 2011

    MS JOBS PROGRAM COULD BE NATIONAL MODEL: President Obama is still trying to sell his jobs plan to America, but there's a program in Mississippi that is already creating jobs. And some analysts say it could be a model for the nation. The Subsidized Transitional Employment Program and Services, or...
  • Blog Post: State Net Capitol Journal October 17, 2011

    A TALE OF TWO ECONOMIC POLICIES: Four years ago, Nebraska Gov. Dave Heineman (R) enacted the largest tax cut in his state's history. The state now has the country's second lowest unemployment rate, at 4.2 percent. In May, Connecticut Gov. Dannel P. Malloy (D) enacted the largest tax hike in his...
  • Blog Post: Budget & Taxes: State Net, October 24, 2011

    ND WEIGHS DOING AWAY WITH PROPERTY TAXES: In stark contrast to most of the rest of the country, times are pretty good in North Dakota. So good, in fact, the state is considering becoming the first in the nation to abolish property taxes. Spurred by the growth of state spending - which has doubled from...
  • Blog Post: State Net Capitol Journal, November 7, 2011

    CO VOTERS IN NO MOOD FOR TAX HIKES: Colorado voters had only one statewide initiative on their ballot last Tuesday (November 1st): Proposition 103. And they were very clear how they felt about the measure - which sought to raise income and sales taxes for five years to provide $2.9 billion for education...
  • Blog Post: State Net Capitol Journal--November 21, 2011

    ENTERPRISE ZONES HAVE BECOME ENTERPRISE IN CO: In 1986, Colorado lawmakers created the Enterprise Zone Program to encourage economic development in struggling parts of the state by giving tax breaks to businesses that bring capital or jobs to "economically distressed areas." More than two decades...
  • Blog Post: State Net: Budget & Taxes, December 5, 2011

    SUPERCOMMITTEE STALEMATE SETS UP AUTOMATIC CUTS: As part of the deal reached by Congress in August raising the federal debt ceiling, a bipartisan supercommittee was charged with the Herculean task of figuring out by November 23rd how to reduce the federal deficit by at least $1.2 trillion over the next...
  • Blog Post: State Net Capitol Journal -- December 20, 2011

    Budget & taxes NY RAISES TOP TAX RATE: This month New York Gov. Andrew Cuomo (D) agreed to do what he had repeatedly said he would not: raise taxes on his state's highest earners. Under the agreement passed by the Legislature, those making over $2 million will actually pay less next year than...
  • Blog Post: State Net Capitol Journal -- January 9th, 2012

    Budget & taxes STATES SEEKING BIGGER PENSION FUND RETURNS: Over the past few years, states have been cutting pension benefits for public workers in an effort to get a handle on unfunded pension liabilities estimated at between $1.26 trillion and $3 trillion collectively. Now some states are...
  • Blog Post: State Net Capitol Journal -- January 17th, 2012

    Budget & taxes CA BUDGET PROPOSAL INCLUDES 'RANSOM NOTE' FOR VOTERS: California Gov. Jerry Brown (D) issued an ultimatum to voters in the $92.6 billion budget he proposed last week: approve $7 billion in temporary tax hikes at the polls in November or lose three weeks in the public...
  • Blog Post: State Net Capitol Journal -- January 23rd, 2012

    BUDGET & TAXES INTERNET GAMBLING MAY NOT PROVIDE JACKPOT FOR STATES: The ruling last year by the Department of Justice authorizing New York and Illinois to sell lottery tickets to their residents via the Internet signaled a major shift in the federal government's longstanding opposition...
  • Blog Post: State Net Capitol Journal -- February 6th, 2012

    Budget & Taxes TO TAX OR NOT TO TAX: In his state of the state speech last week, New Jersey Gov. Chris Christie (R) called for a 10-percent across-the-board cut in the state's income tax. "This will send a loud signal," he said. "The New Jersey comeback has begun." The spending...
  • Blog Post: State Net Capitol Journal -- February 13th, 2012

    Budget & taxes STATES REACH FORECLOSURE DEAL WITH BIG BANKS: After more than a year of negotiations, federal officials, attorney's general of 49 states and five of the nation's largest banks agreed last week to a $25 billion settlement that could provide relief to more than 1 million struggling...
  • Blog Post: State Net Capitol Journal -- February 20th, 2012

    Budget & Taxes SODA TAXES FIZZLE: Two years ago, when concern over obesity, especially among children, had states from California to New York debating excise taxes on soft drinks, it appeared as though they might become the new sin taxes of choice and follow the pattern of alcohol and cigarette taxes...
  • Blog Post: State Net Capitol Journal – March 5th, 2012

    Budget & Taxes STATES DIVERTING FORECLOSURE SETTLEMENT MONEY: Last month, the nation's five largest mortgage lenders signed a $25 billion settlement with the attorneys general of 49 states addressing loan servicing abuses that contributed to the foreclosure crisis. But even before the ink was...
  • Blog Post: State Net Capitol Journal – March 12th, 2012

    c Budget & Taxes FL JUDGE SIDES AGAINST STATE IN PENSION CASE: A Florida circuit court ruled last week that Gov. Rick Scott (R) and Republican legislative leaders' decision last year to cut public employee salaries to offset the state's contribution to their pension fund was an unconstitutional...
  • Blog Post: State Net Capitol Journal – March 19th, 2012

    Budget & Taxes WV COMMITS TO PAYING DOWN PENSION DEBT: West Virginia's unfunded pension liability - estimated at $10 billion last year - is one of the highest per capita in the nation. But the state became a standout on the issue in a very different way last month when lawmakers approved...
  • Blog Post: State Net Capitol Journal – April 2, 2012

    Budget & Taxes PENSION SANCTITY MAY BE TESTED IN CA BANKRUPTCY: Financially troubled Stockton, California is currently in mediation with its creditors to determine whether it will file for Chapter 9 bankruptcy. The bankruptcy process is typically a collective one in which the creditors of the...
  • Blog Post: State Net Capitol Journal – April 9, 2012

    Budget & Taxes RISKY PENSION INVESTMENTS NOT PAYING OFF: Hoping to boost their investment returns and shrink looming deficits, public pension systems across the nation have been turning to riskier investments, such as private equity and hedge funds. But their returns haven't been rising nearly...
  • Blog Post: State Net Capitol Journal – April 16, 2012

    Budget & Taxes CT PULLS PLUG ON MANAGED CARE FOR MEDICAID: The way states used to pay doctors and hospitals for treating Medicaid patients was by directly reimbursing them for the services they rendered. But spurred by criticism that the so-called "fee-for-service" method encouraged...
  • Blog Post: State Net Capitol Journal – April 23, 2012

    Budget & Taxes A TALE OF TWO TAX STRUCTURES AND ONE CITY: Which is worse: high income taxes or high sales taxes? That's a question residents of the metropolitan area of Portland, Oregon ponder fairly regularly. Oregon has no sales tax, but it has one of the nation's highest income...
  • Blog Post: State Net Capitol Journal – May 7, 2012

    SNCJ Spotlight With Congress stalled, states work their own "Amazon tax" deals Like millions of Americans these days, Dena Davidson buys a lot of products online. From birthday gifts to home furnishings, she eschews crowded malls at every opportunity, preferring the comfort of shopping...
  • Blog Post: State Net Capitol Journal – May 14, 2012

    Budget & Taxes STATES' FISCAL HEALTH CONTINUING TO IMPROVE: State fiscal conditions are continuing their slow and mostly steady improvement, according to the National Conference of State Legislatures' Spring 2012 budget update. For the first time since the start of the Great Recession...
  • Blog Post: State Net Capitol Journal - May 21, 2012

    Budget & taxes CONGRESSIONAL REPUBLICANS CALL OUT STRUGGLING US STATES: As economic turmoil returned this month to Greece and Spain, key Republicans in Congress issued a tough message for struggling U.S. states. "Recent experience on Wall Street and in Athens suggests that if decision makers...
  • Blog Post: State Net Capitol Journal – June 4, 2012

    Budget & Taxes LANDLESS TRIBE SEEKING CASINO IN OK: Construction was halted on the Kialegee tribe's Red Clay Casino in Broken Arrow, Oklahoma last month after a federal judge issued a preliminary injunction in response to a lawsuit claiming the tribe doesn't have a legal right to build...