Or is it just spite? Pretty funny. State taxes are evidently a charitable contribution... lol....
New California bill could serve as national boilerplate for skirting Trump’s tax law
https://www.washingtonpost.com/news...irting-trumps-tax-law/?utm_term=.41434812d9db
A California Senate leader introduced legislation Thursday aimed at circumventing a central plank in the new Republican tax law, introducing a model that — if successful — could be replicated across the country.
California Senate President Pro Tempore Kevin de León (D) introduced a bill that would allow taxpayers to make a charitable donation to the California Excellence Fund instead of paying certain state taxes. They could then deduct that contribution from their federal taxable income.
The bill is meant to completely upend part of the tax law that congressional Republicans passed last year. That law contains a provision that sets a new cap of $10,000 on the amount of state and local property and income taxes that can be deducted from federal taxable income. De Leon’s office said that one-third of taxpayers, about 6 million people, itemized deductions on their tax returns and claimed an average of $18,438 for state and local taxes.
New California bill could serve as national boilerplate for skirting Trump’s tax law
https://www.washingtonpost.com/news...irting-trumps-tax-law/?utm_term=.41434812d9db
A California Senate leader introduced legislation Thursday aimed at circumventing a central plank in the new Republican tax law, introducing a model that — if successful — could be replicated across the country.
California Senate President Pro Tempore Kevin de León (D) introduced a bill that would allow taxpayers to make a charitable donation to the California Excellence Fund instead of paying certain state taxes. They could then deduct that contribution from their federal taxable income.
The bill is meant to completely upend part of the tax law that congressional Republicans passed last year. That law contains a provision that sets a new cap of $10,000 on the amount of state and local property and income taxes that can be deducted from federal taxable income. De Leon’s office said that one-third of taxpayers, about 6 million people, itemized deductions on their tax returns and claimed an average of $18,438 for state and local taxes.
