Personal Exemption News Today

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Kansas Republicans say their highest priority for the year is tax cuts, and are proposing a second plan. It includes a controversial flat tax.

The heart of tax reform is to achieve a stronger economy through the adoption of a more economically neutral tax system featuring much lower marginal tax rates. But current discussions of tax reform have been mistakenly caught in the debate over how to cut current and future budget deficits.

SPRINGFIELD – Following two meetings, the City Council approved $6.5 million in relief for the fiscal year 2023 (FY23) tax levy and set an FY23 tax rate of $17.05 per $1,000 of value of residential properties and $36.40 for commercial, industrial and personal (CIP) properties.

For 2023, the federal indexation amount was 6.3%. In comparison, the increases for 2022, 2021, and 2020 were 2.4%, 1.0%, and 1.9%, respectively.

Because 2022 is an election year, the start date for the Alabama Legislature’s regular session comes early: Tuesday, January 11. Here are some unofficial prognostications on the major items of tax legislation

Because 2022 is an election year, the start date for the Alabama Legislature’s regular session comes early: Tuesday, January 11. As we do annually, here are some unofficial...