Federal and state measures we track, by status and effective date.
5 enacted; 30 in effect; 1 proposed; 1 litigation; 3 pending regulations.
A measure enters this table when it is introduced and stays until it takes effect or dies, so the dates below are the ones to plan against, not the day a story ran.
| Date | Measure | Jurisdiction | Status | Effect |
|---|---|---|---|---|
| August 31, 2026 | Massachusetts elective 4% pass-through entity surtax (Chapter 63E) | MA | Enacted | Tax year 2026 (enacted June 2026; date shown is the source article date, exact signing date not verified) |
| July 1, 2026 | Rhode Island non-owner-occupied property tax on homes over $1 million | RI | In effect | 2026-07-01; first installment 2026-09-15 |
| June 17, 2026 | California Proposition 40: one-time 5% billionaire tax | CA | Proposed | Ballot vote 2026-11-03; would apply to Jan. 1, 2026 residents |
| May 28, 2026 | New York FY2027 budget: NYC pied-a-terre surcharge | NY | Enacted | 2026-07-01; first payments January 2027 |
| March 30, 2026 | Washington ESSB 6346: 9.9% tax on income above $1 million | WA | Litigation | Tax year 2028 (first returns 2029) |
| March 24, 2026 | Washington SB 6347: estate tax top rate rolled back | WA | Enacted | 2026-07-01 |
| January 1, 2026 | Massachusetts 4% millionaire surtax threshold indexed for 2026 | MA | In effect | Tax year 2026 |
| January 1, 2026 | New York extends high-earner income tax surcharges (2025 budget, A3009) | NY | In effect | Tax year 2026 |
| January 1, 2026 | New Jersey adopts a QSBS capital gains exclusion (A4455) | NJ | In effect | Tax year 2026 |
| January 1, 2026 | Missouri repeals individual tax on capital gains (HB594) and specie gains (HB754) | MO | In effect | Capital gains from 2025-01-01; specie gains from 2026-01-01 |
| January 1, 2026 | Ohio moves to a flat 2.75% income tax (HB96) | OH | In effect | Tax year 2026 |
| January 1, 2026 | North Carolina income tax rate reaches 3.99% | NC | In effect | Tax year 2026 |
| January 1, 2026 | Nebraska top income tax rate cut to 4.55% | NE | In effect | Tax year 2026 |
| January 1, 2026 | Kentucky flat income tax rate cut to 3.5% | KY | In effect | Tax year 2026 |
| January 1, 2026 | Oklahoma consolidates brackets and cuts top rate to 4.5% (HB2764) | OK | In effect | Tax year 2026 |
| January 1, 2026 | Montana top income tax rate cut to 5.65% (HB337) | MT | In effect | Tax year 2026; 5.4% in 2027 |
| January 1, 2026 | Virginia extends elective pass-through entity tax (HB1600) | VA | In effect | Through tax years beginning before 2027-01-01 |
| December 2, 2025 | Trump Accounts for children (IRC 530A) - Notice 2025-68 | Federal | Pending regulations | Contributions from 2026-07-04 |
| November 13, 2025 | 2026 retirement plan limits (Notice 2025-67) | Federal | In effect | 2026-01-01 |
| October 9, 2025 | 2026 inflation adjustments incl. OBBBA amendments (Rev. Proc. 2025-32) | Federal | In effect | Tax year 2026 |
| September 15, 2025 | Final regulations: Roth-only catch-up for higher earners (SECURE 2.0 sec. 603) | Federal | Enacted | Generally 2027-01-01; good-faith compliance in 2026 |
| July 4, 2025 | One Big Beautiful Bill Act (Public Law 119-21) | Federal | Enacted | Mostly tax years beginning after Dec. 31, 2024 or 2025; some provisions dated to enactment |
| July 4, 2025 | SALT deduction cap raised to $40,000 with high-income phase-down | Federal | In effect | Tax year 2025 ($40,000); 2026 ($40,400), rising 1% a year |
| July 4, 2025 | Estate, gift and GST exclusion set at $15 million, no sunset | Federal | In effect | Deaths and gifts on or after 2026-01-01; indexed after 2026 |
| July 4, 2025 | Tax benefit of itemized deductions limited for the 37% bracket | Federal | In effect | Tax years beginning 2026 |
| July 4, 2025 | 0.5%-of-AGI floor on itemized charitable deductions | Federal | In effect | Tax years beginning 2026 |
| July 4, 2025 | Charitable deduction for non-itemizers | Federal | In effect | Tax years beginning 2026 |
| July 4, 2025 | AMT exemption phase-out thresholds reset lower | Federal | In effect | Tax year 2026 |
| July 4, 2025 | $6,000 senior deduction | Federal | In effect | Tax years 2025-2028 |
| July 4, 2025 | Section 1202 QSBS exclusion expanded | Federal | In effect | Stock acquired after 2025-07-04 |
| July 4, 2025 | Deductions for qualified tips and overtime - Notice 2025-69 | Federal | In effect | Tax years 2025-2028 |
| July 4, 2025 | Deduction for interest on U.S.-assembled car loans | Federal | In effect | Tax years 2025-2028 |
| July 4, 2025 | 100% bonus depreciation restored permanently - Notice 2026-11 | Federal | Pending regulations | Property acquired after 2025-01-19 |
| July 4, 2025 | Section 179 expensing limit raised to $2.5 million | Federal | In effect | Tax years beginning after 2024 |
| July 4, 2025 | Clean vehicle credits terminated | Federal | In effect | Vehicles acquired after 2025-09-30 |
| July 4, 2025 | Home energy and residential clean energy credits terminated | Federal | In effect | Property placed in service / expenditures after 2025-12-31 |
| July 4, 2025 | HSA eligibility expanded - Notice 2026-5 | Federal | In effect | Telehealth relief for plan years beginning after 2024 |
| July 4, 2025 | Federal tax credit for scholarship-granting organization donations | Federal | Pending regulations | 2027-01-01 |
| May 20, 2025 | Washington SB 5813: higher capital gains and estate taxes | WA | In effect | Capital gains: tax year 2025; estate: deaths on or after 2025-07-01 |
| May 20, 2025 | Maryland Budget Reconciliation and Financing Act of 2025 (HB 352) | MD | In effect | Tax year 2025 |