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re: Special Session: Black Caucus issues an ultimatum to increase income tax

Posted on 2/26/18 at 12:07 pm to
Posted by bbap
Baton Rouge, LA
Member since Feb 2006
96062 posts
Posted on 2/26/18 at 12:07 pm to
quote:

As well as several of the people in this thread who can't comprehend how taxes work


Very true
Posted by slackster
Houston
Member since Mar 2009
85472 posts
Posted on 2/26/18 at 12:12 pm to
Never mind the fact that the federal tax cuts in 2018 will result in higher state income tax receipts by itself.

Lowering the federal income tax means you'll take a lower income tax deduction on presumably the same or higher AGI, resulting in higher taxable income for the state. A married couple with AGI of $120k will already pay nearly $200 more in state taxes in 2018 than they did in 2017, assuming no changes to state tax brackets.
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