Temporary Sales-Tax Deduction Benefits Only One-Quarter of Texas Taxpayers, No Excuse for Raising State Sales-Tax Rate

Share on Facebook    Share on Twitter

Dick Lavine /(512) 320-0222 x 101

November 8, 2004

Read Full Article >>  

The U.S. Congress recently passed a bill that allows taxpayers to deduct their state sales tax payments in calculating federal taxable income. Most Texas families gain absolutely nothing from this change. Fewer than one-quarter of Texas taxpayers - disproportionately those with higher incomes - currently itemize their deductions; only itemizers benefit from a new sales-tax deduction.