Tax News

States across U.S. Reducing Taxes by Most Since 2001

State net taxes are falling for the second consecutive year in fiscal 2015. U.S. states reduced taxes and fees this year by $2.3 billion, the deepest cuts since fiscal 2001, according to a report by the National Association of State Budget Officers.

The report notes that stabilizing revenues and spending pressures have led states in three of the last four fiscal years to cut taxes. Twenty-one states enacted net tax cuts in 2015, while only 10 states saw tax increases. The states with the largest reductions in taxes and fees in fiscal 2015 include Florida, Minnesota, New York and Texas.

Read the report: Fall 2014 Fiscal Survey of States

Contact Us

We are here to help. Meredith Theiss, SALT manager, can be reached at 720.227.0064 or

TaxOps State and Local Practice at a Glance TaxOps State and Local Practice at a Glance (219 KB) 

Resource Download

Got Nexus? Learn to Be SALT Compliant

Tap into expert insight with these frequently asked questions on state and local taxation. Get the File »

More from Tax News

Businesses Made $671B in SALT Payments in FY2013

Sales Tax Burden Growing Alongside Number of Sales Tax Jurisdictions