Tax code changes could be on the agenda in more states than unusual in 2013 because more legislatures will be dominated by like-minded members. The number of states in which one party controls both chambers will be at its highest mark in decades, and half the state legislatures will have veto-proof majorities.The Institute on Taxation and Economic Policy, a Washington-based research group that advocates for a tax code that charges more to the wealthy than the poor, predicts that 2013 will be "a watershed year for tax reform." It says 15 states could enact major tax changes, including Republican-led legislatures in Missouri, North Carolina and Oklahoma and Democratic-led states such as California and Oregon.
State Tax-cut Plans Tempered By Caution In 2013
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.