New York ranks highest in the nation for state and local tax collections per capita at $12,685 as of 2022, according to the latest data from the Tax Foundation, a right-leaning think tank.

After months of negotiation, lawmakers have reached a deal to raise the federal cap on state and local tax (SALT) deductions from $10,000 to $40,000 starting in 2025—a significant jump from the ...

Senate Republicans’ tax bill raises the "SALT" deduction cap to $40,000. Here's who could benefit from the change.

Senate Republicans’ tax bill raises the “SALT” deduction cap to $40,000. Here’s who could benefit from the change.

Senate Republicans’ tax bill raises the “SALT” deduction cap to $40,000. Here’s who could benefit from the change.

The House on Thursday approved Senate Republicans’ changes to the federal deduction for state and local taxes, known as SALT — a crucial part of President Donald Trump ’s “ big, beautiful ...

Trump pushes Republicans to do ‘the right thing’ The bill would extend and make permanent various individual and business tax breaks from Trump’s first term, plus temporarily add new ones he ...

But under the new tax law losses are only 90 percent deductible, meaning that if a gambler won $100,000 and then lost $100,000, he could still owe tax on $10,000 of income.

When Republicans last set out to change taxation in America, they spent years combing through the details of the internal revenue code. They traveled the country, held hearings and drafted early ...

Passed via the Tax Cuts and Jobs Act, or TCJA, of 2017, there's a $10,000 limit on the SALT deduction through 2025, which has been a pain point for certain lawmakers in high-tax blue states. If ...

Senate Republicans’ tax bill raises the “SALT” deduction cap to $40,000. Here’s who could benefit from the change.

Passed via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s a $10,000 limit on the SALT deduction through 2025, which has been a pain point for certain lawmakers in high-tax blue states.