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How EY can help
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State and local taxes can significantly impact a company’s cash flow, effective tax rate and risk profile. Our network of dedicated state and local tax professionals combines technical knowledge with industry understanding and access to technologically advanced tools and methodologies.
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Americas and US Tax Policy at Ernst & Young LLP is a one-stop resource for insights on national and state tax reform, tax policy, regulatory changes and legislation.
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The 2022 federal and state midterm elections may impact state tax policy in 2023 and beyond.
The 2022 federal and state midterm elections are likely to have state tax policy ramifications. The widely anticipated “red wave” did not materialize at either level, and despite a challenging economic climate, Democrats had more success at the federal level than the sitting president’s party typically has during midterms. State Democratic candidates made substantial gains in various states but lost ground in others. These results — along with shifts in state supermajority control following 2022 redistricting and ongoing economic uncertainty — will affect not just the state political landscape, but also state tax policy for the foreseeable future.