New York ranks highest in the nation for state and local tax collections per capita at $12,685 as of 2022, according to the latest data from the Tax Foundation, a right-leaning think tank.

After months of negotiation, lawmakers have reached a deal to raise the federal cap on state and local tax (SALT) deductions from $10,000 to $40,000 starting in 2025—a significant jump from the ...

Senate Republicans’ tax bill raises the "SALT" deduction cap to $40,000. Here's who could benefit from the change.

The House on Thursday approved Senate Republicans’ changes to the federal deduction for state and local taxes, known as SALT — a crucial part of President Donald Trump ’s “ big, beautiful ...

California state, local tax deduction limit grow from $10,000 to $40,000, benefiting wealthier taxpayers in high-tax areas like Sacramento, Bay Area.

As Senate Republicans release key details of President Donald Trump’s spending package, some provisions, including the federal deduction for state and local taxes, known as SALT, remain in limbo ...

You can deduct your state and local taxes from your taxable federal income, but only if you opt to itemize your deductions By Sean P. Murphy Globe Staff,Updated July 30, 2025, 11:55 a.m. 79 ...

With the 2017 bill, called the Tax Cuts and Jobs Act, Republicans capped SALT at $10,000, enraging lawmakers from high-tax states like New York and New Jersey who voted against the bill.

But under the new tax law losses are only 90 percent deductible, meaning that if a gambler won $100,000 and then lost $100,000, he could still owe tax on $10,000 of income.

The tax cuts themselves aren’t the only significant source of spending in the bill. A sticking point for swing district Republicans has been the state and local tax (the SALT deduction), or the ...

When Republicans last set out to change taxation in America, they spent years combing through the details of the internal revenue code. They traveled the country, held hearings and drafted early ...

Passed via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s a $10,000 limit on the SALT deduction through 2025, which has been a pain point for certain lawmakers in high-tax blue states.