Vermont

State legislative sessions are wrapping up, and final tax and budget packages are making their way to governors’ desks.

This week, troubling revenue projections are making headlines, with many lawmakers scrambling to determine how the tax changes at the federal level, plus price hikes driven by national policy decisions, will impact their states.

Including NCTI in state corporate tax law is an effective way to neutralize much of the tax avoidance that occurs when multinational companies artificially shift their profits into overseas tax havens.

The results are a mixed bag, with some states enacting promising policies that will improve tax equity and others going in the opposite direction.

Most states are adopting a very cautious approach so far this year as legislators begin their sessions and governors make their annual addresses, thanks to ongoing economic uncertainty and federal retrenchment.

State governors are beginning to lay out their top priorities as legislatures reconvene in statehouses around the country.

As we kick off a new year, several states are facing revenue shortfalls. Some lawmakers are approaching the challenge with sustainable and equitable solutions.