July 8, 2025
The enactment of the One Big Beautiful Bill Act (OBBBA) of 2025 brings significant changes to federal tax law, including adjustments to individual and business tax provisions, the state and local tax (SALT) deduction cap, and bonus depreciation. Because states differ in how and when they conform to federal tax law, the impact on taxpayers will vary widely depending on each state's conformity approach.
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