Washington State Advances Rollback of Data Center Tax Exemptions

Washington, home to tech companies like Microsoft and Amazon, would end its sales tax exemptions for data centers under a bill moving through the state legislature.

Florida Moves to Unwind Court Ruling for Interest on Tax Refunds

A bill gaining momentum in the Florida legislature would dismantle a state appeals court’s ruling that saddled the Department of Revenue with paying interest on successful tax refund claims against the state.

Graduated Income Tax Petition Drive Launched in Colorado

A coalition of Colorado community and tax policy groups has been cleared to start collecting signatures for a ballot initiative asking voters to establish a graduated income tax system that will lean primarily on wealthy taxpayers.

Smithfield Scores Preferred California Income Tax Treatment

Smithfield Packaged Meats Corp. convinced a California trial court that it qualifies as an agricultural business permitted to use a special formula to calculate what portion of its income is taxable in the state.

States Defend Tax Powers After Attacks by White House, Congress

South Carolina state Sen. Sean Bennett (R) is a self-described “federalist at heart,” who believes in low taxes, broad bases, and a light touch on exemptions. So he gets annoyed when he receives unsolicited advice from the federal government on state tax policy.

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Alabama Proposes Constitutional Amendment Authorizing Henry County Senior Property Tax Assessment

The Alabama Legislature enacted a law proposing an amendment to the Alabama Constitution authorizing qualified taxpayers 65 years of age or older to claim a senior property tax assessment for ...

West Virginia Governor Signs Law Updating Personal Income Tax Act with Federal Amendments

The West Virginia Governor signed a law updating the West Virginia personal income tax act by incorporating federal tax code amendments made through Dec. 31, 2024, while preserving state provisions ...

Alabama Proposes Constitutional Amendment Authorizing Blount County Senior Property Tax Exemption

The Alabama Legislature enacted a law proposing an amendment to the Alabama Constitution authorizing qualified taxpayers 65 years of age or older to claim a senior property tax exemption for ...

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Trump’s IRS Lawsuit Offers Lessons on Privacy and Legal Process

President Donald Trump’s $10 billion lawsuit against the IRS should reinforce several lessons that extend well beyond this case: Taxpayer privacy is fundamental. Courts have tools to preserve fairness when structural conflicts arise. Presidential proximity to litigation decisions can heighten those conflicts. And policy choices about investment, access, and oversight have real-world consequences.

Trump Investor Ban Adds Twist to Capitol Hill Housing Talks

One of President Donald Trump’s marquee affordability ideas – preventing institutional investors from buying up homes – is complicating talks on federal housing legislation, creating new fault lines around a bipartisan bill even as the White House pushes for quick passage.

Equinor Seems to Sway West Virginia Justices on Gas Tax Refund

Two West Virginia Supreme Court justices seemed unimpressed Tuesday with the state tax commissioner’s argument that an Equinor ASA subsidiary isn’t entitled to a $4.5 million refund of taxes it paid on natural gas liquids extracted in the state.

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Chaotic Prediction Markets Need to Be Reined In: Editorial

The old adage about ducks — if it looks, swims and quacks like one, it probably is one — seems to be escaping US regulators, who have so far accepted the claim by some gambling companies that they are not actually gambling companies. Congress ought to act before this artifice does further damage.

Iran War Wagers Are Ghoulish — and Troubling: Paul J. Davies

As bad behavior in finance goes, the idea of insiders betting on the US and Israel attacking Iran is about as appalling as it gets. Cashing in on death and destruction across the Middle East — or anywhere else — would be despicable. But beyond the moral dimension, there’s also the issue of national security: Given that handing such information to an enemy would be an act of treason, should risking intelligence leaks through price signals be seen as any less traitorous?

Trump Escalates Confrontation With Banks Over Crypto Agenda (1)

President Donald Trump warned banks against weakening his cryptocurrency agenda and pushed for passage of a market-structure bill known as the Clarity Act, escalating a confrontation with the financial industry over legislation that would reshape how digital assets are regulated in the US.

Matt Levine’s Money Stuff: Everyone Wants a Pension

The basic situation is that people work for about 40 years, during which they earn more money than they spend, and then they retire and don’t work for about 30 years, during which they spend more money than they earn. That’s a very broad statement, you could quibble with the numbers, and it is certainly not true of everyone: Some people retire early, some retire late, some die young, some live a long time, etc. But as a rough statistical average, most people get some decades of saving in the workforce and then some decades of spending in retirement.

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