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  2. State and local tax deduction - Wikipedia

    en.wikipedia.org/wiki/State_and_local_tax_deduction

    For US federal income tax purposes, state and local taxes are defined in section 164(a) of the Internal Revenue Code as taxes paid to states and localities in the forms of: (i) real property taxes; (ii) personal property taxes; (iii) income, war profits, and excess profits taxes; and (iv) general sales taxes.

  3. What are the tax brackets for tax years 2024 and 2025? What ...

    www.aol.com/tax-brackets-tax-years-2024...

    The AMT exemption amount for tax year 2024 increased to $85,700 and starts to phase out at $609,350, up $4,400 and $31,200 compared with tax year 2023, respectively.

  4. FACT CHECK: Michael Bennet Claims SALT Benefits The ... - AOL

    www.aol.com/fact-check-michael-bennet-claims...

    The benefits of SALT primarily go to higher income taxpayers, multiple tax experts and think tanks told Check Your Fact via email. One expert said that wealthy people in non-blue states also ...

  5. Raising the SALT Cap Is a Gift to High-Tax States - AOL

    www.aol.com/news/raising-salt-cap-gift-high...

    While it did lower marginal income tax rates across the board, reducing the top rate from 39.6 percent to 37 percent, it also capped the deduction for state and local taxes (SALT) at $10,000 annually.

  6. Salt tax - Wikipedia

    en.wikipedia.org/wiki/Salt_tax

    As a result of the salt tax, the price of salt skyrocketed, subsequently meaning many individuals were unable to afford salt. Salt plays a large role in the human diet and salt starvation is a serious health issue which can result in vomiting, coma, and death. [ 2 ]

  7. Sen. Schumer vows to let cap on SALT tax deductions sunset ...

    www.aol.com/sen-schumer-vows-let-cap-162035187.html

    Former President Donald Trump enacted the cap in 2017 as part of the federal tax cuts that year, limiting personal federal income tax deductions for state and local taxes, or SALT, at $10,000 a year.

  8. Category:Salt tax - Wikipedia

    en.wikipedia.org/wiki/Category:Salt_tax

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  9. Trump pledges to restore SALT deduction ahead of rally in tax ...

    www.aol.com/news/trump-pledges-restore-salt...

    “Repealing SALT would lower the effective tax rate on the state’s top earners by 37%,” he said back in 2021. “The state’s new, top 10.9% tax rate becomes an effective 6.9% tax rate.”