States are compiling the data on tax revenue resulting from the Tax Cuts and Jobs Acts (commonly referred to as tax reform) signed into law in late December 2017.
Colorado, for instance, is now projecting a revenue increase of $196.5 million in fiscal year 2018-2019.
According to the Tax Foundation “States incorporate provisions of the federal tax codes into their own codes in varying degrees, meaning that federal tax reform has implications for state revenue.” Check out the Tax Foundation’s current list of state’s projected revenue impact.
Michael Best Strategies will continue to monitor and provide updates. Bookmark our website and visit frequently for the latest.
