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State and local taxes can significantly impact a company’s cash flow, effective tax rate and risk profile. Our network of dedicated state and local tax professionals combines technical knowledge with industry understanding and access to technologically advanced tools and methodologies.
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Not all tax measures failed, however, as voters in Illinois approved an advisory question indicating support for a 3% surtax on individual income exceeding $1 million in order to lower property taxes.
At the local level, voters approved San Francisco Measure M, which, in 2025, substantially revises the city’s business taxes, including rate changes and revisions to the calculation of several of the city’s business-related taxes. Voters in both Berkeley, CA and Santa Cruz, CA approved ballot measures to extend and impose new taxes on sugary drinks, respectively. Meanwhile, in Denver, CO residents voted in a measure that imposes an additional temporary sales and use tax to help fund hospital services but voted down a second ballot measure that also would have imposed an additional temporary sales and use tax to expand and preserve affordable housing.