Bloomberg Tax
Daily Tax Report: State
View and Filter All Stories

Latest Stories

New Mexico Governor Vetoes Broad Tax Cuts, Keeps $500 Rebates

New Mexico Gov. Michelle Lujan Grisham signed provisions of a sweeping tax bill to give $500 tax rebates to all filers and expand the state’s film and TV tax credit but used her line-item veto authority Friday to reject broad changes to personal and business taxes.

Louisiana Legislature Nibbles at Reforming Sales Tax System

The week in state tax news: Louisiana has a reputation for operating perhaps the most complicated and fragmented sales tax system in the country. Will lawmakers address these problems when the 2023 legislative session kicks off next week? Meanwhile, Texas lawmakers are exploring options for replacing the state’s expired business tax incentives program, and the Maryland Supreme Court received a flurry of briefs addressing a challenge to the state’s digital advertising tax.

It’s Tax Season! Here Come the ‘Leech Brands’: Ben Schott (1)

Happy tax season to all who celebrate! Which is (or should be) everyone. But as you strive to do your civic duty (under penalty of perjury) ponder this: Just 2.4% of the 104 million US taxpayers eligible to use the IRS Free File Program did so in 2020. And more than 14 million of the lowest-paid Americans may have paid unnecessary commercial fees to file their 2019 taxes.

View More

Tax Your Crypto and NFTs? Yes, the IRS Wants Its Cut

Cryptocurrency and NFTs continue to rise in popularity in the U.S., but many people are still confused about how they are taxed. In this video, a partner at Steptoe & Johnson who specializes in tax policy and cryptocurrency, lays out how different crypto transactions are taxed.

Up Next

How 'Unfair' Property Taxes Crush New Yorkers