What are the potential trade-offs between federal tax policy and the fiscal autonomy of state and local governments in the context of the salt deduction?

Aug 9, 2024 ... The 2017 Tax Cuts and Jobs Act (TCJA) imposed a $10,000 cap on SALT deductions, putting some of the most stringent limitations on the deduction ... Mar 6, 2025 ... Be Wary of Pre-Emptive Tax Planning on Itemized Deductions & SALT · The $10,000 cap on state and local tax (SALT) itemized deductions is set to ... Sep 4, 2020 ... The SALT deduction is a warped way to do social policy; at worst it is a politically-motivated handout to the richest people in the richest places. Feb 18, 2022 ... The SALT deduction does not act as a cost-of-living adjustment to federal income taxes, and it would still not be justified if it did. Mar 30, 2023 ... Essentially, this provides a workaround for the SALT deduction limitation by allowing the PTE to pay for and deduct SALT before income is passed ... The $10,000 U.S. cap on deductions for state and local taxes (SALT) is, understandably, on the minds of many taxpayers in high-tax states, especially with ... Mar 7, 2023 ... The law is effective retroactive to January 1, 2022, meaning that companies may take advantage of this law for the 2022 tax year. Entities must ... Apr 12, 2019 ... Full deductibility of property taxes is a SALT workaround that benefits middle class taxpayers more (by percentage of lost SALT deductions ... Nov 9, 2017 ... The deductions for all of the state and local taxes is worth about $100 billion in 2017, according to projections from the Joint Committee on Taxation. Jul 8, 2022 ... For Virginia income taxes, the electing qualifying PTE and the PTE's owners are required to add-back their respective federal deductions for ...