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Home / Expert Opinion / Keeping Your Balance: New York State responds to the limitations imposed by the Tax Cuts and Jobs Act

Keeping Your Balance: New York State responds to the limitations imposed by the Tax Cuts and Jobs Act

Included in the newly enacted New York State Budget Bill are provisions that reform New York State tax law. This is in response to the Tax Cuts and Jobs Act (TCJA). The provisions specifically address the TCJA’s $10,000 state and local tax (SALT) deduction limitation. New York state estimates that the newly imposed limitations on ...