Tag

Taxrelief

All articles tagged with #taxrelief

politics1 year ago

"Kansas Gov. Kelly and Republicans Reach Compromise on Tax Bill Amid Fiscal Challenges"

Democratic Gov. Laura Kelly has backed a tax-relief bill negotiated by a Republican-led committee, which includes ending the food sales tax early, exempting all Social Security benefits from income tax, expanding the residential property tax exemption, increasing the standard deduction for income tax purposes, and cutting the top income tax rate. The bill, not yet voted on by the House or Senate, represents a compromise between the two chambers' differing tax policies and is expected to provide substantial tax relief for all Kansans. The bill also includes additional tax breaks for telecommunications infrastructure, custom meat processing services, and various exemptions for disabled veterans and elderly Kansans.

local-news2 years ago

"Texas Homeowners Navigate New Property Tax Laws and Exemption Changes"

Texas homeowners are reacting to the new property tax-cut law that is expected to save them hundreds of dollars. The $18 billion Property Tax Relief Act includes a significant increase in the state's homestead exemption, raising it from $40,000 to $100,000. While some homeowners have noticed a considerable reduction in their tax bills, others, like DonPaul Stephens, have seen their bills go up due to property value reassessments. State Senator Paul Bettencourt, who authored the bill, assures that the relief is designed to be sustainable into the future, with the homestead exemption now enshrined in the constitution.

local-news2 years ago

"New 2024 Massachusetts Legislation Brings Tax Relief and Insurance Overhaul"

Massachusetts is introducing new laws in 2024, including a significant tax relief plan initiated by Governor Healey, which will provide $561 million in tax cuts for the fiscal year 2024, benefiting families with increased child and dependent tax credits and other tax reforms. Dental insurance reform, mandated by a 2022 vote, will require insurers to spend at least 83% of premiums on dental expenses and quality improvements. Additionally, the archery deer and fall wild turkey hunting seasons will start two weeks earlier in certain zones, aligning them with other zones' schedules.