Maximum Salt Deduction 2024 Calculator. Given their 24% tax rate, the taxpayer’s deduction would reduce their 2023 income tax liability by. Those states with the highest percentage of taxpayers using the salt deduction included maryland, new jersey, connecticut, and new york state being the.
The new tax law caps the state and local tax deduction at $10,000. You will begin by entering the total of all your state and local taxes on the matching lines on schedule a.