4 ms·
> There's a $10k deduction for state taxes. If the state tax rate is greater than the federal rate, then they won't pay federal income tax. That would be true
by drdec 5y ago
> There's a $10k deduction for state taxes. If the state tax rate is greater than the federal rate, then they won't pay federal income tax.
That would be true if it were a credit, but it is a deduction.