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

States Eye Income Tax Phaseouts to Draw, Keep Residents

2 weeks 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

2 weeks 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

2 weeks 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

2 weeks ago | news.bloombergtax.com | David Hood

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Corporate SALT Cap Proposal Puts States, Businesses on Notice

3 weeks 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

4 weeks 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

4 weeks 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

4 weeks 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.
Georgia Set to Cut Income Taxes, Issue Latest Round of Rebates

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

A pair of tax reform bills headed to the desk of Georgia Gov. Brian Kemp (R) would make the state the latest to slash income taxes this year. The full state legislature signed both measures on Thursday and Kemp is expected to sign them. The first would cut the state’s income tax rate of 5.29% by 10 basis points, or 0.1%, annually starting this year until the rate reaches 4.99% in 2026. The other bill would issue an automatic, one-time tax rebate of up to $500 per taxpayer.
Maryland Budget Deal Drops Proposed Tax on Delivery Orders

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

Maryland Gov. Wes Moore (D) and state legislative leaders announced Thursday they’ve agreed upon a budget deal that includes a new tax bracket for high-income earners as well as about $2.3 billion in spending cuts. The spending cuts are $500 million above what Moore included in his January budget proposal. To raise additional revenue, the budget framework would create a new bracket for wealthy Maryland taxpayers.