Daily Tax Report: State

New Jersey Governor Murphy Continues Push for SALT-Cap Removal

Oct. 9, 2019, 5:36 PM

New Jersey Gov. Phil Murphy said he will continue to back a legal challenge to the limit on state and local tax deductions despite a recent setback in federal court.

The 2017 tax law established a $10,000 cap for state and local tax deductions.

In an interview with Bloomberg TV, Murphy said the Trump administration “weaponized” the tax law against states like New Jersey and reiterated his commitment to legally challenging the cap. His state joined with New York, Connecticut, and Maryland to file a lawsuit to challenge the law that limited write-offs for state and local taxes.

A federal...

To read the full article log in. To learn more about a subscription click here.