Summer has arrived, and states are beginning to implement policy changes that were enacted during this year’s legislative session (or that have delayed effective dates or are being phased in over time). Generally, most state individual and corporate income tax changes take effect on January 1, the beginning of the calendar year, for consistency through the tax year. However, some important tax policy changes take effect on July 1, which is the beginning of the fiscal year for all states except Alabama, Michigan, New York, and Texas.
