Salt Tax Cap Repeal 2025 New York

Salt Tax Cap Repeal 2025 New York. Legislation increases the cap on salt to $100,000 for single filers, and to $200,000 for married couples filing jointly. House republicans from new york, california and new jersey unhappy with a cap on state and local tax deductions cast talks on the issue with donald trump as “positive” but.

Come next year, the cap on the federal deduction for state and local taxes (salt) is set to expire alongside certain tax cuts included in the gop’s 2017 tax law. The legislation would increase the salt deduction cap to $100,000 for single filers and $200,000 for married couples filing jointly, addressing an unjust penalty in the current tax code while.