An expansion of the child tax credit and new “MAGA savings accounts ... be capped at $5,000 per year and not subject to federal income tax, according to the legislation.

Louisiana HB 341 proposes reducing the state individual income tax from 3% to 2.75%. The bill also aims to eliminate the motion picture production tax credit program starting July 1, 2024.

The House of Representatives has passed its reconciliation bill that features massive tax cuts and deep cuts to spending. The tax cuts in the House bill mostly flow to those who ... tax provisions—the ...

A bipartisan duo reintroduced a popular measure this week that would expand the low-income housing tax credit with an eye toward including it in Republicans’ budget reconciliation package.

Credit unions were originally created to serve low-income and rural households ... These new behemoths are using their tax subsidy to distort financial markets, evade transparency, and consolidate ...

Vermilion City Council recently passed an ordinance to re-establish a full 1% income tax credit for residents paying municipal taxes to other municipalities. In a 4-3 vote, Council passed the ...

The bill’s main provision, to replace the state’s Working Families Tax Credit with a new Earned Income Tax Credit, survived the conference committee and will, if the bill passes, increase the ...

But taxpayers who claimed the Earned Income Tax Credit or the Additional Child Tax Credit will need to wait a bit longer. “By law, we can’t issue EITC or ACTC refunds before mid-February ...

The law also eliminated the two-dependent cap, meaning there’s now no limit to the number of dependents for which a taxpayer can claim a credit. You must file a MA income tax return to claim the ...