Proposed regulations thwart state plans to work around the new $10,000 federal limit on state and local tax deductions.

Background

“The Tax Cuts and Jobs Act,” Pub. L. No. 115-97, limits an individual’s deduction under IRC §164 for the total amount of state and local taxes (SALT) paid during the calendar year to $10,000 ($5,000 for a married individual filing a separate return). State and local tax payments exceeding those amounts aren’t deductible. This new limitation applies to taxable years 2018 through 2025.

State Law Workarounds

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