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SALT Insights

Akerman Perspectives on the State of Taxation

Tag Archives: Executive Order #172

Tax Reform: With Massive Overhaul Now Law, Prepayment of Property Tax May Benefit New York Property Owners

By Eric Olson on December 27, 2017 Posted in New York, Real Property

On December 22, 2017, President Donald J. Trump signed the Tax Cuts and Jobs Act (Act), which beginning in 2018 caps at $10,000 the allowable deduction for payment of state and local income, sales, and property taxes. While the Act prohibits 2017 deductions for prepayment of 2018 state and local income taxes, such prohibition does … Continue Reading

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Akerman’s SALT Insights blog provides timely updates on the latest state and local tax controversy issues in order to keep you up to date on pertinent legal developments.