Taxes

Inside the Democratic Party, economic policy is often seen as a contest between President Barack Obama's track record and the anti-Wall Street approach advocated by Massachusetts Sen. Elizabeth Warren.

After years of being flush with oil money, Alaska now faces drastic budget cuts and having to dip into well-stocked savings to offset unprecedented deficits exacerbated by an unexpected plunge in oil prices.

President Barack Obama will call for increasing taxes on the wealthiest Americans by raising the capital gains rate and eliminating a tax break on inheritances, then using the revenue to fund new tax credits and other cost-saving measures for the middle class.

The White House says President Barack Obama will propose in his State of the Union address a plan to impose higher taxes on the wealthy and use the revenue to help middle-class families.

Washington's legal marijuana market opened last summer to a dearth of weed.

Gov. Rick Snyder's budget director said there will be "real" cuts to government services after economists agreed Friday that revenue is $289 million short of projections in the current state budget and $527 million below what was expected in the next fiscal year.

Vermont could reap hundreds of millions of dollars in tax revenue if it were to legalize marijuana, but only if other nearby states don't also jump on the bandwagon, according to a study released Friday.

Kansas would nearly triple its cigarette tax, raise taxes on alcohol and slow down promised income tax cuts to balance its budget under proposals Republican Gov. Sam Brownback outlined Friday.

Puerto Rico's governor signed a law Thursday that will increase the excise tax on a barrel of crude oil by 68 percent to help generate funds and sell an anticipated $2.9 billion in bonds.

The new Republican-controlled Congress is facing an old problem: where to find the money for highway and transit programs.

The IRS is cutting taxpayer services just as President Barack Obama's health law is making filing a tax return more complicated.

An Ohio law that singles out professional athletes and entertainers for taxation even when they're in the state just a few days a year is unconstitutional, say several sport leagues including the NBA, NFL and NHL who want the state Supreme Court to strike the law down.

Republican legislative leaders are backing Indiana Gov. Mike Pence's proposal to add a balanced budget amendment to the state constitution, even as details of how it would work are still being sorted out.

Citibank's efforts to reclaim $30 million in overpaid taxes have reached the South Dakota Supreme Court, where the financial group argued Wednesday against "inequity" in the way the state has dealt with bank franchise taxes.

Be prepared for the tax man to get even more personal this year — with questions about your health insurance.

President Barack Obama's signature health care law will bring a new twist to tax-filing in 2015, a year in which much else will seem familiar when you're working on your return.

The Missouri Supreme Court on Tuesday issued three rulings limiting some sales tax exemptions for construction activities by businesses.

Gov. Rick Snyder signed laws Monday to spend $1.3 billion a year more to mend deteriorating roads and other transportation infrastructure, contingent on Michigan voters increasing the state sales tax to 7 percent in May.

U.S. Sen. Sheldon Whitehouse said Monday that he is introducing three bills designed to generate $310 billion over 10 years by closing tax loopholes.

People who owe old debts to the Social Security Administration are getting a reprieve this tax season: The federal government won't be seizing their tax refunds.