Category Archives: Taxes

Northam Administration Still Avoiding Discussion of TCI

Why do Virginia’s leaders run away from the Transportation and Climate Initiative? Could it be because the first state legislature to consider it, in reliably Democratic Connecticut, just adjourned without even taking a vote on the proposed carbon tax compact, despite strong support from Democratic Governor Ned Lamont? Continue reading

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With Tax Revenue Exploding, Virginia Should Boost Standard Deduction, Index for Inflation

One of the big financial winners with the May 1 Virginia minimum wage increase is the state itself, because the entire raise is subject to a 5 percent state income tax. With its low standard deduction and personal exemption amounts, … Continue reading

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Northam Tax Harvest Expands Again

With the release yesterday of the April 2021 Virginia state revenue report, covering ten months of the fiscal year, a correction in an earlier report becomes necessary. Continue reading

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Virginia Tax Structure Better for Mature Firms than for Start-ups

Virginia is far more tax friendly to established businesses than it is to new ones. That is one major conclusion of a major state-by-state business tax comparison released Wednesday (here) by the Tax Foundation and KPMG LLC. In neighboring North … Continue reading

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Northam Tax Hikes Squeeze Virginia Businesses and Individuals

With Virginia’s fiscal year now three-quarters complete, and basically one year since the depths of the COVID-19 recession, state tax revenues are soaring. Despite reports that the boom results from the economic rebound, it remains clear that changes in tax … Continue reading

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