Tax Law

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State Net Capitol Journal -- January 17th, 2012
Posted on 17 Jan 2012 by State Net

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... Read More

State Net Capitol Journal – May 14, 2012
Posted on 14 May 2012 by State Net

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... Read More

State Net Capitol Journal – May 7, 2012
Posted on 7 May 2012 by State Net

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... Read More

State Net Capitol Journal -- February 6th, 2012
Posted on 6 Feb 2012 by State Net

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... 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 -- 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 – 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... 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... 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... Read More

State Net Capitol Journal--November 21, 2011
Posted on 20 Nov 2011 by State Net

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... Read More

State Net Capitol Journal – March 12th, 2012
Posted on 12 Mar 2012 by State Net

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... 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

State Net Capitol Journal -- February 20th, 2012
Posted on 21 Feb 2012 by State Net

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... Read More

Budget & Taxes – State Net, March 21, 2011
Posted on 20 Mar 2011 by State Net

STATES NOT SWEATING FEDERAL SHUTDOWN THREAT - YET: The congressional budget impasse that has threatened to shut down much of the federal government for the second time this month has drawn only muted reaction from the state capitols - at least... Read More

Budget & Taxes – State Net, March 14, 2011
Posted on 14 Mar 2011 by State Net

HIGH SPEED RAIL DEAD IN FL - FOR NOW: Last week, FLORIDA Gov. Rick Scott (R) got his way on his effort to kill high-speed rail in the state. Scott formally declared last month that he was rejecting the $2.4 billion in federal funding for a high-speed... Read More

  • Blog Post: Budget & Taxes – State Net, March 14, 2011

    HIGH SPEED RAIL DEAD IN FL - FOR NOW: Last week, FLORIDA Gov. Rick Scott (R) got his way on his effort to kill high-speed rail in the state. Scott formally declared last month that he was rejecting the $2.4 billion in federal funding for a high-speed rail line between Tampa and Orlando that had been...
  • Blog Post: Budget & Taxes – State Net, March 21, 2011

    STATES NOT SWEATING FEDERAL SHUTDOWN THREAT - YET: The congressional budget impasse that has threatened to shut down much of the federal government for the second time this month has drawn only muted reaction from the state capitols - at least so far. One reason is that two of the largest...
  • Blog Post: Budget & Taxes – State Net, May 16th, 2011

    GOP PUSHING FOR RIGHT-TO-WORK: A legislative season marked by efforts to curb union power is nearing its end in many states, but possibly not before further restrictions are imposed. So-called right-to-work bills that would allow workers to opt out of joining unions were proposed in 18 states...
  • Blog Post: Budget & Taxes – State Net, July 11th, 2011

    MINNESOTA SHUTDOWN CONTINUES: Minnesota marked the seventh day of its government shutdown last Thursday with a downgrading of its AAA bond rating by Fitch Ratings. Fitch mentioned the state's ongoing budget impasse as one of the reasons for its action. The stalemate between Gov. Mark...
  • Blog Post: Budget & Taxes – State Net, September 6th, 2011

    IRENE COULD BE ONE OF NATION'S COSTLIEST DISASTERS: In the few days that Hurricane Irene lashed the East coast, it flooded cotton and tobacco crops in North Carolina, disrupted shellfish harvesting in the Chesapeake Bay, prevented commuters from getting to work in the New York metropolitan...
  • Blog Post: Budget & Taxes – State Net, September 12th, 2011

    RI CONSIDERING RADICAL PENSION REFORM: Estimated at somewhere between $6.8 billion and $9 billion, Rhode Island's unfunded pension liability is far from the largest in the country. That dubious distinction belongs to California, with an unfunded liability of $59.5 billion, according to a...
  • Blog Post: Budget & Taxes – State Net, September 19th, 2011

    HAVE HOMELAND SECURITY GRANTS GONE TO WASTE? In the years since 9/11, the Department of Homeland Security has poured $34 billion into states to help them address the threat of terrorism. But on the tenth anniversary of the terrorist attacks, questions are being asked about whether states are...
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...