Finance
Managing public finance has become a demanding aspect of state and local government, especially as economic health fluctuates and outside forces create revenue instability. Articles on taxes, budgets, pensions and bonds help to bring insight to finance management at the state and local level.
Colorado’s “rolling conformity” with the federal tax code, coupled with sweeping tax breaks enacted by Congress, triggered a sudden revenue loss.
The federal tax law change took place in 2018, but the revised form has just been released. The IRS hopes the new W-4 is more transparent and less complex. But there are a few changes to be aware of.
Traffic fines in California can be quite expensive, often more than the monthly disposable income for many families. Officials are thinking of reworking the program to make it more feasible and to make sure the state gets paid.
Gov. Kim Reynolds’ plan to “Invest in Iowa” would mean raising sales tax by a penny but decreasing both property and income tax. But it also hopes to improve water quality, conservation, and outdoor rec opportunities.
The tax break would extend an existing incentive but after seeing the hefty price tag, the lobbyists have stepped back. But even if the break doesn’t pass this year, “the group may push for it again in future years.”
New York’s Lockport City School District has facial and object recognition that it can no longer use after the state changed the rules. A school board trustee thinks the district should get a refund for the $1.4 million purchase.
Reporting by ProPublica revealed that TurboTax’s host company, Intuit, had been deceiving customers into paying for what could have been free. The IRS has responded by dropping a long-standing agreement not to compete with industry by developing its own tax filing software.
The financial system for any major organization is complex and that includes state and local government. Efforts to expand the capabilities of finance through new technology can lead to different results as these two examples show.
By building on the data they gave away in the HQ2 competition, they can support the real engine of job growth: entrepreneurship
Allowing hundreds of municipalities to impose their own ridesharing taxes is a terrible idea. There's a simpler and better way to make sure these companies pay taxes that’s beneficial to both states and localities.
