Kansas ~ Personal Income, Sales and Use Taxes: Governor Expresses Tax Goals in State of the State Address; FY 2014 Budget Report Released

Gov. Sam Brownback set forth his goals for Kansas related to personal income taxes and sales and use taxes in his State of the State address delivered on January 15, 2013. The governor’s proposed tax plan includes reducing the state’s bottom rate of 3.0% to 2.5% in tax year 2014 and then to 1.9% in tax year 2016.

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New Jersey ~ Unclaimed Property: U.S. Supreme Court Will Not Review Travelers’ Cheques Law Change

A corporation that engaged in travel-related services has been denied U.S. Supreme Court review of whether New Jersey’s retroactive shortening from 15 years to three years of the period after which not-yet-used travelers’ cheques are presumed abandoned violates the federal Due Process Clause by allowing the state to confiscate the proceeds of private enterprise under an arbitrary and unreasonable presumption of abandonment. The corporation also had challenged the law change on the basis that it effected an unconstitutional taking.

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