Welcome

All About SALT, the Tax Deduction That Divides U.S.: QuickTake

April 12, 2021, 1:28 PM

For as long as Americans have paid federal income taxes, they’ve been able to subract some portion of what they paid to their state and local governments. The size and scope of this federal deduction for state and local taxes -- SALT, for short -- has a big influence on how the federal tax burden is divided, since it tends to help taxpayers in wealthier, more urbanized states, where sales taxes are higher and real estate costs more. President Donald Trump’s 2017 tax reform capped the SALT deduction at $10,000. Restoring it in full is a key priority for ...

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