Super Bowl Boost, Payroll Tax Relief, Tax Cuts
Connecticut
Lawmaker Proposes Estate Tax Repeal
A state lawmaker is seeking repeal of the 5% state tax on estates valued at $2 million or more. The proposal would save at least $100,000 in taxes on estates valued at more than $2 million.
Source: Republican-American
Florida
Small Businesses Get Super Bowl Boost
Restaurants, hotels, and other small businesses in South Florida reaped millions of dollars of additional revenue due to Super Bowl XLI and related events. The NFL and the Host Committee alone spent more than $2.5 million on small business services leading up to the game.
Source: South Florida Sun-Sentinel
Hawaii
State Chamber Pushes for Payroll Tax Relief
The state's chamber of commerce says it will push for payroll tax relief during this year's legislative session. Hawaii has the lowest unemployment in the nation, but its unemployment insurance taxable wage base is one of the highest.
Source: Pacific Business News
Iowa
Minimum Wage Increases
Gov. Chet Culver signed into law legislation raising the state's minimum wage from $5.15 per hour to $7.25 per hour by next January. Culver said wages will increase for nearly 260,000 Iowans who work at or near the minimum wage-roughly 18% of the state's workforce.
Source: Quad-City Times
Nebraska
Governor Proposes Tax Cuts
In his State of the State address, Gov. Dave Heineman laid out a $476 million tax cut aimed at the middle class, small business owners, and would-be entrepreneurs. His plan would lower income tax rates, eliminate the estate tax, and repeal the sales tax on construction labor.
Source: Sioux City Journal
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