State of Tax: Cautious NJ Budget Plan, DeSantis Property Tax Ax

The week in state tax news: The governor of New Jersey proposed a handful of tax increases along with spending cuts to keep a lid on the state budget in view of uncertain federal funding prospects. Meanwhile, Florida’s governor confirmed his desire to eliminate property taxes in the state, though he hasn’t proposed a plan to replace the revenue, and New York’s top tax administrator described worry about state implications of staff cuts at the IRS.

New Jersey Budget Plan Includes Tax Hikes

In a budget couched in cautionary notes related to federal funding uncertainty, New Jersey Gov. Phil Murphy ...