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South Carolina state lawmaker proposes LTCI bill | LifeHealthPro
Maybe SC will spur a national tax credit
Maybe SC will spur a national tax credit
LTCI Tax Credit
- Thread starter scagnt83
- Start date
That's good! But I would like to see it look more like NY's with a 20% credit and no cap.
Arthur Rudnick
Guru
- 1,652
originally posted by findaway
Agreed, but it's never going to happen. NY is unique. Most states offer a minor deduction for LTCi premiums. There may also be some states that offer an actual credit, but it's capped and it doesn't come close to 20%.
In these times, the states need all the money they can get. The furtherest thing from their minds is issuing tax credits.
Of course in order to reduce Medicaid expenses it only makes sense to do so. But when has the government ever done anything that makes sense?
Agreed, but it's never going to happen. NY is unique. Most states offer a minor deduction for LTCi premiums. There may also be some states that offer an actual credit, but it's capped and it doesn't come close to 20%.
In these times, the states need all the money they can get. The furtherest thing from their minds is issuing tax credits.
Of course in order to reduce Medicaid expenses it only makes sense to do so. But when has the government ever done anything that makes sense?
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