San Francisco Chronicle Business & Technology News - Spoken Edition

California lags other high-tax states on state and local deduction workaround


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New York, New Jersey and Connecticut have already passed bills intending to circumvent the new $10,000 limit on the federal tax deduction for state and local taxes. California, which has the highest state income tax rate in the nation, hasn’t passed any workaround bills, although two are making their way through the Legislature. It’s unclear why California isn’t moving as quickly as other high-tax states on this hot-button issue.
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San Francisco Chronicle Business & Technology News - Spoken EditionBy San Francisco Chronicle