State of Tax: ‘C-SALT’ Considerations, NRA Sues Colorado Gun Tax

The week in state tax news: The latest tax bill negotiations in Congress include a long-desired increase in the individual deduction for state and local tax payments, though a proposed offset—capping corporate SALT write-offs—is drawing questions and opposition. Meanwhile, the NRA sues Colorado over a voter-backed excise tax on guns, and Chicago’s tax on cloud computing services helps it beat revenue estimates.

GOP Considers $25,000 SALT Cap

Republicans in Congress are developing a tax bill that would increase the amount of state and local tax payments individuals can deduct from their federal returns to $25,000, up from the current $10,000,, ...