Where Tax Cuts Are Hot.

We've seen trimming of rates in other taxes, including 13 states with corporate-income-tax cuts, a couple of states with sales-tax cuts, and trimming other taxes as well." "After adjusting for inflation, state tax collections were 9.3 percent higher in 2022 than they were in 2017, even though 17 states had lower top income tax rates in 2022 than they did in 2017, to say nothing of cuts to corporate income taxes and other state taxes", Walczak wrote in a February article. The TCJA also capped the state-and-local tax (SALT) deduction, so high-income earners and some middle-income earners in high-tax states now feel more of the burden of their states' policies. "The past three years have seen the largest wave of state-tax cuts in the modern era, certainly since income taxes were created over a century ago at the state level", says Jared Walczak, vice president of state projects at the Tax Foundation. [Extracted from the article]