In this episode of GeTtin' SALTy, host Nikki Dobay welcomes back Jared Walczak, Vice President of State Projects at the Tax Foundation, for a discussion of the recently passed federal tax legislation, the One Big Beautiful Bill Act.
Nikki and Jared break down the high-level changes made to the federal tax code, focusing on the implications for state budgets and tax conformity.
They cover the shifting landscape of state revenues, new and temporary individual tax deductions, business expensing provisions, and the challenges states face in deciding whether to conform or decouple from federal changes.
The conversation also delves into the budgetary impacts of changes to Medicaid, SNAP, and provider taxes, and closes with a preview of complex international tax reforms.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
