“Wohh, the Taxman,” the Beatles sang more than 50 years ago. In the time of covid, some remote-based workers can’t even be sure who their taxman is.
Will those workers have to continue paying taxes to the states in which their companies are based, even though the workers live in different states and aren’t commuting to the office anymore?
The Supreme Court may ultimately decide.
More than a dozen states submitted legal briefs this week regarding a petition that New Hampshire filed with the court in October. The state seeks to stop Massachusetts from taxing New Hampshire residents working remotely, The Wall Street Journal reports.
The petition says Massachusetts doesn’t have the right to tax the income of New Hampshire residents who previously commuted to their jobs in Massachusetts but now work from home, the paper reports.
It’s unclear whether the Supreme Court will take the case.
In national fiscal policy news Thursday, House Republicans fought off Democrats’ attempt to more than triple covid stimulus payments to $2,000 per non-wealthy American -- the amount President Trump had demanded.
Trump demanded that increase from the $600 payments agreed on in the $900 billion fiscal stimulus bill Congress passed on Monday. The payments are slated to go to all Americans with adjusted gross incomes below $75,000.
The president threatened to veto the stimulus without a rise in the payments. Democrats quickly agreed to his demand but many Republicans have balked. Democrats can try again before the year ends.
The fights in Washington aren’t affecting financial markets much. U.S. stocks rose modestly in Thursday's holiday-shortened session.