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Approving an extension preferably a permanent extension, but a temporary one if that's not possible is simply a matter of fairness. It would put all of the states on a level playing field by treating all state and local taxes the same. A permanent extension would assure that the measure won't be held hostage at the end of every year.
minute a year ago, and Sen. Dean Heller, R Nev., proposed a permanent extension in February. But, here Reebok Shoes For Women
The deduction for income taxes paid doesn't face a similar gantlet. It has a permanent place in the federal tax code. That should be no surprise because it benefits taxpayers in high tax, well represented states such as California and New York by lowering the federal tax burden on residents of those states. As a result, residents of no income tax states Nevada, Texas, Florida, South Dakota, Washington and Wyoming pay higher taxes and, in effect, help to subsidize government in states that prefer the income tax. (Income taxes are barred in Nevada by the state's constitution.)
The sales tax provision awaiting extension generally allows taxpayers to deduct a fixed amount from their federal income tax based on their income. For anyone who bought a car, truck or other big ticket item in the past year, however, the deduction is particularly significant, allowing them to deduct the full amount of the sales tax charged for the purchase.
is about to expire because of the inaction of Congress.
we are in December again, and the deduction, which benefits those Nevada taxpayers who itemize their deductions, Reebok Sneakers For Boys
Instead, taxpayers in Nevada won't know what they owe until well into the tax filing year maybe not until Groundhog Day, perhaps because of uncertainty over the sales tax deduction. It's time for Congress to stop playing games with an important provision of the tax code.
The extension of the sales tax deduction has become almost an annual exercise in political brinksmanship, much like the infamous "fiscal cliff."
It's a congressional version of "Groundhog Day," the Bill Murray movie in which an egomaniacal weatherman must relive the holiday until he finally gets it right.
Stop playing politics with the sales tax deduction
It most recently was extended at the last Saucony Sneakers 2018
Taxpayers in Nevada and eight other states that rely primarily on sales taxes to Reebok Legacy Lifters pay the government's bills know how he must have felt. Once again, this year they are facing the possibility of losing their income tax deduction for sales taxes paid because Congress failed to extend the "temporary" provision of the tax code before shutting down for the year.
But the sales tax deduction is not a special interest issue. It is a small measure of fairness in a tax system that benefits states with an income tax at the expense of states like Nevada that have, for a variety of reasons, chosen the sales tax as its primary tax.
The sales tax deduction is just one of a long list of items left unfinished by Congress, a list that includes extended unemployment benefits for the long term jobless, cuts to the food stamp program, a provision of the federal excise tax on imported rum and write offs for racehorse owners.
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