David Brunori quoted in article “States Swamped By Tax Overhaul Uncertainties”Law360 01/25/18
Below is an excerpt:
Some states are already beginning to respond with possible changes to their own tax codes after passage of the federal tax overhaul in December, but there is much uncertainty as to how far they can proceed this year, an expert panel said Thursday.
It could be a lengthy process, since before creating legislation, states will have to consider their method and level of conformity to the federal tax code then decide whether continuing to stay the course is beneficial. Brunori said states conform in a variety of ways, with 30 states and the District of Columbia starting with federal adjusted gross income, six starting with federal taxable income and five starting with other methods in calculating state taxable income.
Originally published in Law360, January 25, 2018