Latest State taxes News

Huge surplus leaves Georgia with $6.6B in cash to spend

Sep. 23, 2022 19:51 PM EDT

ATLANTA (AP) — Georgia ran a surplus of more than $6 billion in the budget year that ended June 30, meaning the state's next governor and lawmakers could spend or give back billions. The State Accounting Office, in a Friday report, said Georgia ran a $6.37 billion surplus even...

Missouri Senate passes individual income tax cuts

Sep. 21, 2022 14:11 PM EDT

JEFFERSON CITY, Mo. (AP) — Missourians could get a break on state income taxes under a proposal approved by the Republican-led state Senate on Wednesday. Senators voted 24-4 to send the bill to the GOP-led House for consideration. The roughly $1 billion proposal...

Missouri Senate moves on compromise plan to cut income taxes

Sep. 20, 2022 14:25 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri senators on Tuesday gave first-round approval to a bill to cut state individual income taxes as called for by Republican Gov. Mike Parson. The GOP-led Senate's compromise plan would immediately cut the top income tax rate from the current 5.3%...

Parts shortage forces Ford to cut its 3Q earnings forecast

Sep. 19, 2022 19:28 PM EDT

DEARBORN, Mich. (AP) — A parts shortage that has thousands of Ford's most-profitable vehicles sitting on lots waiting to be fully assembled has forced the automaker to slash its third-quarter earnings forecast. Ford said Monday that it expects to have 40,000 to 45,000 unfinished...

Missouri Senate committee negotiates income tax cut

Sep. 19, 2022 18:12 PM EDT

COLUMBIA, Mo. (AP) — Missouri state senators on Monday advanced two strategies for cutting income taxes, but behind-the-scenes negotiations were still ongoing. The Senate Appropriations Committee voted out two bills on income taxes for the full Republican-led chamber to debate. ...

Massachusetts taxpayers to get some of their money back

Sep. 16, 2022 13:31 PM EDT

BOSTON (AP) — Massachusetts taxpayers can look forward to seeing a return of some of their tax dollars this year, Gov. Charlie Baker said Friday. The announcement came after the state auditor’s office certified that tax revenues exceeded allowable revenues under a little-noticed...

Special session on Missouri tax cuts drags on

Sep. 15, 2022 14:52 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri lawmakers ended work early Thursday as private negotiations over potential tax cuts continued. Republican Gov. Mike Parson had called on the GOP-led Legislature to start a special session on tax cuts last week, but they delayed in in an attempt...

Idaho tax collections dip below expectations for August

Sep. 14, 2022 17:05 PM EDT

BOISE, Idaho (AP) — Idaho’s individual income taxes, sales taxes and corporate income taxes all fell slightly below monthly projections for August, the state budget office reported Tuesday. The $38.5 million dip below expectations is still a tiny fraction of the state’s $6...

Missouri lawmakers start work on proposed tax cuts

Sep. 14, 2022 17:02 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri lawmakers on Wednesday returned to the Capitol for a special session aimed at cutting taxes. Republican Gov. Mike Parson called on lawmakers to cut the top income tax rate from 5.3% to 4.8%. He also wants the GOP-led Legislature to increase the...

Coloradans take housing into their own hands with initiative

Sep. 14, 2022 11:21 AM EDT

AURORA, Colo. (AP) — Fed up with sky-high housing prices, Coloradans are taking the issue into their own hands with a November ballot initiative that would direct a portion of the state's income taxes to affordable housing projects. As housing crises bubble up nationwide,...