recently, state tax legislative reform has become a pressing concern for lawmakers across the United States. With the ever-changing landscape of the national economy, states are constantly reevaluating their tax codes to ensure they remain competitive and fair. According to a report by the Tax Policy Center, a nonpartisan think tank, state tax reform efforts have focused on reducing tax rates, broadening tax bases, and improving tax administration (Source: Tax Policy Center, "State Tax Reform: A Review of Recent Efforts"). For instance, some states have implemented tax cuts to attract businesses and stimulate economic growth, while others have sought to address issues of tax fairness and equity.
One notable example of state tax legislative reform is the overhaul of the tax code in Arizona, which aimed to simplify the state's tax system and reduce tax rates.
The reform, which was signed into law in 2021, reduced the state's income tax rate from 4. 24% to 3. 75% and eliminated several tax credits (Source: USA TODAY, "Arizona lawmakers pass tax cut package to reduce income tax rate"). Similarly, in North Carolina, lawmakers have implemented a series of tax reforms aimed at reducing tax rates and broadening the state's tax base.
LANSING — Michigan's personal income tax returns would mirror federal tax cuts for tips, overtime pay and Social Security, under the budget deal ...●●● ●●●
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