2018 State And Local Tax Policy: Year-In-Review

“The most significant SALT policy action in 2018 was inaction,” said Morrison & Foerster partner Mitchell Newmark in the Law360 article, “2018 State And Local Tax Policy: Year-In-Review.” Mr. Newmark specifically pointed to “insufficient action by most states to produce rapid and thorough guidance as to the state treatment of federal income tax reform.”

“The state tax treatment of federal tax reform should not become an audit gotcha or money grab of income that has nothing to do with the taxing state,” he added.