Calling these items 'tax loopholes' is deceitful
Pending legislation to eliminate the state income tax over a 10-year period would also eliminate all deductions, exclusions, credits and other “loopholes.” This includes the standard deduction ($11,600), personal exemptions ($1,000) and exemptions for aging and blindness. Also being eliminated are exclusions for any retirement income and the state exclusion for the federal taxable portion of Social Security . All re...
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