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Federal tax code changes could impact state revenues

from Route Fifty

If deductions and other tax expenditures were eliminated from the federal income tax code, dozens of states around the U.S. would be positioned to see revenues increase, according to an analysis The Pew Charitable Trusts published Wednesday. Nationwide, 40 states and the District of Columbia have broad-based personal income taxes, which incorporate various federal tax expenditures, including deductions, exclusions and credits. This means taxpayers in these places can claim these expenditures when filing state tax forms. more


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