Year-End SALT Wrap-Up: State Revenue Trends, OB3 Conformity, and What's Ahead for 2026

In this episode of GeTtin' SALTy, host Nikki Dobay welcomes back Jared Walczak, Vice President of State Tax Projects at the Tax Foundation, for a wide-ranging discussion on the biggest state and local tax (SALT) policy developments of 2025.  Together, Nikki and Jared recap the fiscal health of the states, dig into why some states—like Washington and Maryland—are struggling despite robust revenues, and highlight major tax policy moves from states across the country, including property tax relief and income tax rate changes.  The episode takes a deep dive into the impact of the OB3 Reconciliation Act, especially the challenges states face with conformity, timing issues around business expensing provisions, and the implications of shifting from GILTI to NCTI for state taxation of foreign income. Looking ahead to 2026, Nikki and Jared address the hot topics likely to dominate state tax debates—including renewed focus on property tax reform, new ballot initiatives, and the ever-present question of competitiveness.  The episode wraps up with a lighthearted Thanksgiving chat—tradition or no tradition! Tune in for SALT insights and a preview of what's on the horizon for state and local tax policy in the coming year!