A commission appointed by New York Governor Andrew Cuomo to study tax policy recommended reducing property and businesses levies by $2 billion over three years, including a cut in the corporate rate to the lowest since 1968.
New York state should end a sales- tax exemption for less-expensive shoes and clothes to cover levy reductions for low- and middle-income residents and property owners, a panel recommended to Governor Andrew Cuomo.
Nothing thrives in Illinois like local government -- almost 7,000 units that tax, spend and drive up debt in a state struggling to pay off vendors and cover almost $100 billion of unfunded pension liabilities.
Amazon.com Inc. has begun making good on a deal with California officials, opening three distribution centers across the state and today announcing a fourth, 1.2 million square-foot (111,500 square-meter) facility east of Los Angeles.
They love their deductions in Maryland: The state claims the highest percentage of income tax filers claiming the itemized deduction for charitable gifts on 2011 returns, according to The Tax Foundation. Maryland also stands out in tax matters for being one of just two states with both an inheritance and estate tax. The Tax Foundation found the next highest concentration of filers claiming the charitable deduction in New Jersey (36 percent) and Connecticut (35.9 percent). The lowest: West Virginia, at 13.3 percent. To see a state-by-state map, click here.