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FEDERAL TAX REFORM AND ITS IMPACT ON STATE AND LOCAL TAXATION

The Tax Cuts and Jobs Act ("TCJA") is generating significant changes and opportunities in the Federal tax law. How does this new law affect state income tax? When do states adopt Federal law changes? What provisions will cause states to decouple? Will enhanced bonus depreciation and limits to like-kind exchanges impact property tax? Does the new international tax regime impact state income? So many unknowns and questions.