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Home›California payday›Thanks to tax lawyers like you! – ITEP

Thanks to tax lawyers like you! – ITEP

By Daniel Templeten
November 23, 2021
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.ITEP staff

Here at ITEP, we want to thank and say that we are grateful for all the hard work state advocates across the country are doing to secure progressive tax policy victories. As in Arizona, where supporters of an income tax surtax for wealthy residents were able to collect enough signatures to force a veto referendum on legislation recently signed by the governor that would implement a flat tax of 2.5 %. In the Sunshine State, meanwhile, cities are pushing back a law that gives the Florida the governor and the administration have a right of veto over local budgets and tax revenues. And the lawyers in Ohio are hard at work, showing how unfair severance pay has cost the state over $ 1 billion.

Main tax proposals and developments of the State

  • ARIZONAthe secretary of state announced that enough signatures have been collected to initiate a veto referendum to overturn an income tax bill that would cut rates and ultimately create a flat rate of 2.5%. Although the veto referendum is scheduled for the November 2022 ballot, it will have to overcome several challenges in court. – MARCO GUZMAN
  • State officials have confirmed that a lower income tax rate will appear to COLORADONovember 2022 poll. The proposal would reduce the state’s 4.55% fixed rate to 4.4%. – MARCO GUZMAN
  • LOUISIANA voters approved a tax swap it would rid the state of its federal tax deduction and use it to reduce income tax rates. The constitutional amendment also reduces the maximum tax rate allowed in the state constitution from 6 to 4.75 percent. Voters also rejected the centralization of sales tax collection. – NEVA BUTKUS

State gathering

  • CALIFORNIAthe progressive tax structure and the country’s strong economic recovery are now expected to generate $ 31 billion in budget surplus for the 2021-2022 fiscal year. Only about half of that can go to reserves, so Gov. Gavin Newsom and lawmakers could use the rest for a mix of new investments, tax cuts and tax breaks.
  • The DISTRICT OF COLOMBIA held a hearing on the legalization of the sale of recreational marijuana last Friday. The bill would require half of cannabis tax revenues to be used to automatically clear cannabis-related arrests and convictions and provide employment opportunities for residents arrested for drug offenses.
  • Seven FLORIDA cities filed a lawsuit last Tuesday challenging a law that gives the governor and cabinet veto power on local budgets and taxpayers’ money. The lawsuit indicates that this overrun could lead to tax constraints that would ultimately cost taxpayers more money. In other news, Governor Ron DeSantis called on the legislature to suspend gasoline tax for six months which would cost the state $ 1 billion.
  • ILLINOIS Governor JB Pritzker signed the Reimagining Electric Vehicles in Illinois Act which offers significant tax credits for companies producing electric vehicles and automotive batteries.
  • The MARYLAND The Ministry of Commerce introduced a new tax credit, the Maryland Innovation Investment Tax Credit, supposedly to support the state’s tech start-ups, although decades-old research has shown that states fare better when they invest in existing employers.
  • MISSISSIPPI Gov. Tate Reeves reaffirmed his plan to eliminate personal income tax even though the plan would leave the state with roughly the same amount of income he received before 2010. Inexplicably, Governor Reeves also plans to spend more on education, including a $ 71 million increase in teacher salaries, although it is not clear how the state would pay for these investments.
  • As NEBRASKA lawmakers prepare for another year trying to balance the needs of rural and urban school districts, the representative of a mid-sized city is hoping she found the right place with a plan to increase state aid through a combination of per-student funding and income tax shift. However, supporters are already wondering how to fund the proposal, and Gov. Pete Ricketts will certainly oppose increased funding from any source..
  • NEW MEXICO Governor Michelle Lujan Grisham has announced that one of her top legislative priorities for 2022 will be to reduce the tax rate on gross government revenue from 5.125% to 4.875%.
  • UTAH legislators have started exploring how they plan to use the nearly $ 615 million surplus in the 2022 legislative session. Ideas range from eliminating the sales tax on groceries to reducing taxes on groceries. income, meeting infrastructure needs and increasing teachers’ salaries.

What we read

  • The Massachusetts Center for Budget and Policy highlights several progressive tax policies that can help small businesses.
  • A new report from Tax Policy Center invite public finance economists to focus racial equity in their research.
  • Route fifty reports on a new trend for state and local parks and recreation departments to broaden their understanding of “recreation” to include e-sports, as an increasing number of localities now host online video game tournaments for residents.
  • Comment from Policy Matters Ohio in the Ohio Capital Journal demonstrates how Ohio lost $ 1.2 billion due to unfair severance taxes that favor energy companies.
  • A contributor to Sacramento Bee compared the California Lottery to the predatory payday lending industry and argues that it should be shut down.

If you like what you see in the recap (or even if you don’t) please send comments or advice for future posts to Meg Wiehe at [email protected]. Click here to register and receive the summary by email.




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