Even as the federal tax reform law takes effect, bringing with it lower tax bills for millions of Americans, states have been tinkering with their tax odes as well. In some cases, the results are tax increases, either for individuals or businesses. The Tax Foundation has a run down on some key changes that went into effect on January 1:
There have been many questions about what corporations will do with the new provisions in the tax reform bill that reduce corporate rates, and create incentives for them to bring the billions of dollars they have parked overseas back to the United States.
The House and Senate have passed their versions of tax cuts, which means the bills must be reconciled in a conference committee. How do the bills differ? Our friends at the Tax Foundation have an analysis of the key issues negotiators must agree on before sending a final bill to the President.