New Jersey went to court Wednesday to challenge a new IRS rule that bars residents here from circumventing the $10,000 cap on state and local tax deductions enacted by President Donald Trump.The NJ GOP is blasting Murphy, saying he should be doing something about the state's outrageous property taxes, which are outrageous. Holy Merde:
In announcing the lawsuit, Democratic Gov. Phil Murphy blasted the 2017 Republican federal tax overhaul as a “weaponization of the tax code,” that was “created to punish states like New Jersey.”
The average deduction for state and local taxes exceeded the $10,000 limit in 20 of New Jersey’s 21 counties, and more than four in 10 households in the state had taken advantage of the tax break.It's not that nice a place to live.
For those wondering, Casa de Stroock is just under the limit. The house down the street sold for $570,000*. Three bedrooms. Thank you real-estate bubble.
I love the rule of your state wants high taxes you should pay them instead of making the rest of the country subsideze or maybe vote in people who might lower taxes
ReplyDelete