Sentence examples for local deduction from inspiring English sources

What's happening to the state and local deduction?

Under current law, the state and local deduction (SALT) is unlimited.

Asked if preserving the state and local deduction was one of the details he was willing to change, Mr. Hatch responded affirmatively.

One possible reason to consider that change would be to offset revenues lost from a deal to preserve some of the state and local deduction for individuals.

But in the Senate, those high-tax areas are often represented by Democrats, which puts less pressure on Republican leaders to keep the state and local deduction, in any form, in their version of the bill.

E.J. McMahon, the founder of the Empire Center for Public Policy, a conservative economic think tank, said that the new $10,000 cap on the state and local deduction imposed by Washington "will not devastate" the state.

The three governors plan to argue that the federal tax law's cap on state and local deductions singles out Democratic states and tramples upon states' rights to self-governance.

By pushing ahead with a limit on state and local deductions, Republicans could also be setting themselves up for political losses in higher-end coastal suburban districts that currently buttress their House majority.

"Assuming the Republican tax bill passes and [many] state and local deductions are eliminated, all blue states will need new forms of revenue, which is further incentive for [figuring out] sports betting".

The lesson here is that you usually have a better chance of avoiding or reducing the AMT by matching income and deductions; take large state and local deductions in years when your income is large, too.

The House bill would repeal most of the state and local tax deduction but retain a limited deduction for property taxes.