New York's Challenge to the SALT Cap has Been Rejected for Good

For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.

This Monday, the Supreme Court rubbed SALT into the wound that is the annual tax return of every New York/New Jersey resident who makes a decent income.

The highest court in the land rejected an appeal by four states to overturn a cap on state and local tax deductions (SALT), passed in 2017. Critics say the rule makes life for some blue-state residents more expensive than a ticket to an exclusive Democratic Party fundraiser.

Continue reading

Source Fool.com