The Supreme Court Monday rejected an appeal from several states challenging Congress’s cap on state and local taxes that can be deducted from federal taxable income.
New York led a group including Connecticut, New Jersey, and Maryland in trying to strike down the 2017 limit known as the SALT cap, which limits people to $10,000 of their state and local property and income taxes that can be deducted. The states argued that the cap improperly encroached on states’ taxing ability.
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