The Latest Breaking News from Jared Walczak

Illinois Just Adopted a Half-Baked Scheme to Tax Social Media

A lack of comprehension and sloppy language make a mess of a new tax scheme.

Reason · Jun 10

Maine’s pool of money from taxes on home sales is growing. How is it being used?

Maine lawmakers are considering using the state's real estate transfer tax to support homeless shelters in addition to affordable housing programs, including those for first-time home buyers and foreclosure prevention

The Independent UK · Apr 1

Dumping State Income Taxes Could Mean High Sales Taxes—or an Opportunity for Smaller Government

A new report warns that some plans for replacing income tax revenue rely on unrealistic assumptions.

Reason · Feb 2

Billionaire Jeff Bezos, a soon-to-be Florida man, sparked a debate over taxes without mentioning them. The implications of his Seattle-to-Miami move show why

The Amazon founder, thanks to key tax differences between Florida and Washington, could save billions with the move. But he says it's for personal reasons.

Fortune · Nov 5, 2023

Think Texas has a cheaper tax burden than California? Think again.

"When people are like, 'Oh California is so much more expensive than Texas,' that’s the top income tax rate."

Fortune · Mar 23, 2023

States put grocery taxes on ice

As inflation soared in the past year, families in some states suffered a double whammy — paying food sales taxes on top of higher-priced groceries.

Tribune News Service · Jan 18, 2023

Borrowers in 7 states may be taxed on their student loan cancellation

Seven states have tax policies on the books that could require them to treat student loans canceled by the federal government as taxable income.

WEKU · Sep 9, 2022

Surprise: Borrowers may face up to $1,100 in state taxes on forgiven student loans

Residents of New York, Virginia and eleven other states could end up with a surprise tax hit of hundreds of dollars next year on forgiven student loans.

Tribune News Service · Aug 29, 2022

Despite economic headwinds, most state budget experts aren’t worried

Grocery, gas and housing prices are up this year. The stock market is down. Voters are souring on the economy, and some analysts are warning of a looming recession.

Tribune News Service · Jul 27, 2022

Gov. Newsom’s inflation relief package could drive up prices even more, experts say

SACRAMENTO, Calif. — An $18.1 billion inflation relief package proposed by Gov. Gavin Newsom will put salve on key pain points for Californians most affected by rising gas and grocery prices but also likely will cause prices to tick up just a tad more, leading economists say.

Tribune News Service · May 19, 2022