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Friday, May 29, 2015

Should Sales Tax Deduction Be Made Permanent? House Says Yes

Since 2004, individuals who itemize can chose to deduct either state income tax or state sales tax. It's an obvious choice if you live in a state such as Nevada without an income tax. But this has been a temporary provision, renewed many times. It last expired 12/31/14. In April, the House passed HR 622 to make this a permanent provision.

For more on the background, why the House passed the bill and the policy considerations, please see my post at - here.

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