Disapproving D.C. income and franchise tax revisions
- Nullifies D.C.’s temporary tax law: The resolution disapproves and nullifies the D.C. Income and Franchise Tax Conformity and Revision Temporary Amendment Act of 2025. This generally realigns D.C. tax law with tax provisions in the 2025 federal reconciliation act
- Restore individual tax deductions: D.C. tax law again includes the higher basic standard deduction; a deduction for charitable cash contributions for taxpayers who take the standard deduction; and a $6,000 deduction for taxpayers 65 and older. It also allows deductions for qualified tips, qualified overtime pay, and qualified car loan interest
- Reinstate business tax deductions: Businesses may elect a 100% depreciation allowance for nonresidential real property and deduct 100% of research and experimental costs retroactive to tax year 2022
- Introduced
- In committee
- Reported
- Passed House
- Passed Senate
- Law
What’s next: Became law on Feb 18.
Readers can rate the committee’s call once its decision is on record.