David Hood

Washington, D.C., United States

Senate Leadership Reporter at Bloomberg Government

ESG reporter for Bloomberg INDG. Think tilde—it's pronounced "NOON-yo." RTs ≠ endorsements, unless it’s about tacos. [email protected]

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Articles

Missouri Set to Exempt Capital Gains From State Income Taxes

1 week ago | news.bloombergtax.com | David Hood

Missouri is on track to become the the first US state to exempt stock-market investment gains from income taxes. A bill (HB 594) that passed the Missouri House of Representatives Wednesday and now heads to Gov. Mike Kehoe (R) would exempt stock earnings, known as capital gains, from personal income taxes. Capital gains typically come from selling stock shares at a higher price than bought, but also apply to trading cryptocurrency, or selling real estate.
Virginia Governor Cuts $900 Million in Budget to Blunt Tariffs

1 week ago | news.bloombergtax.com | David Hood

Virginia Gov. Glenn Youngkin (R) announced he cut about $900 million from the state’s amended 2024-2026 budget to “cushion” against short-term risks to state tax revenues from President Donald Trump’s spending cuts and tariffs. Youngkin late last week announced he was signing the amended biennial budget (HB 1600) passed by the General Assembly that includes $1 billion in tax relief, $1,000 bonuses for teachers, and 1.5% bonuses for state employees.
States Eye Income Tax Phaseouts to Draw, Keep Residents

1 month ago | news.bloomberglaw.com | David Hood

While several states are again cutting personal income taxes this year, two—Mississippi and Kentucky—are on paths to entirely phase out their individual income taxes, joining a small but growing trend. The two states are taking different approaches to reducing their income taxes to zero, but both efforts could have wide-ranging effects on their budgets and taxpayers alike, practitioners and analysts said.
States Eye Income Tax Phaseouts to Draw, Keep Residents

1 month ago | news.bloombergtax.com | David Hood

While several states are again cutting personal income taxes this year, two—Mississippi and Kentucky—are on paths to entirely phase out their individual income taxes, joining a small but growing trend. The two states are taking different approaches to reducing their income taxes to zero, but both efforts could have wide-ranging effects on their budgets and taxpayers alike, practitioners and analysts said.
States Weigh NIL Tax Breaks to Attract Top College Athletes

1 month ago | news.bloomberglaw.com | David Hood

This year’s Final Four in the men’s NCAA Basketball Tournament have more in common than being No. 1 seeds: Their home states either already give student athletes a tax break on earnings from endorsements and marketing tied to their personal brands, or are trying to enact one. Legislators in Duke’s home state of North Carolina and Auburn’s Alabama are floating bills that would partially or fully exempt student-athlete’s earnings from name, image, and likeness deals from income taxes.
States Weigh NIL Tax Breaks to Attract Top College Athletes

1 month ago | news.bloombergtax.com | David Hood

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Corporate SALT Cap Proposal Puts States, Businesses on Notice

1 month ago | news.bloombergtax.com | David Hood

A plan to cap the amount of state and local tax liabilities businesses can write off on their a federal returns would require big adjustments from companies and statehouses alike. Senate Republicans are reportedly considering restrictions on corporate state and local tax deductions as part of their federal tax package, to help pay for increasing the cap for individuals to $25,000 from $10,000.
Sundance Announces Colorado Move as Tax Breaks Near Passage

1 month ago | news.bloombergtax.com | David Hood

A $34 million tax break to lure the Sundance Film Festival to Colorado cleared a procedural hurdle in the state Senate in a unanimous vote Thursday, the same day the festival announced it selected Boulder from among three potential locations to host the event starting in 2027. Lawmakers have been looking for ways to draw the event to Colorado from its long-time home in Park City, Utah.
Sundance Announces Colorado Move as Tax Breaks Near Passage

1 month ago | news.bloomberglaw.com | David Hood

Daily Tax Report: StateEmailMarch 27, 2025, 9:31 PM UTCA $34 million tax break to lure the Sundance Film Festival to Colorado cleared a procedural hurdle in the state Senate in a unanimous vote Thursday, the same day the festival announced it selected Boulder from among three potential locations to host the event starting in 2027. Lawmakers have been looking for ways to draw the event to Colorado from its long-time home in Park City, Utah.
Maryland House Passes $67 Billion Budget With New Tech Tax

1 month ago | news.bloombergtax.com | David Hood

The Maryland House of Delegates on Wednesday adopted a $67 billion state budget for fiscal 2026 that includes a new 3% tax on information technology and data services and increased personal income taxes on high incomes. The measure (HB0352) aims to close a roughly $3 billion deficit, a key priority for Gov. Wes Moore (D), who last week announced an agreement with the General Assembly.