A defining characteristic of an individual income tax system is its degree of progressivity. The United States has a rather progressive income tax. This means that the average tax rate paid by an individual increases as...
- Inheritance Tax Rates and Exemptions, 2012-2013
Inheritance Tax Rates and Exemptions, 2012-2013
After years of slow economic growth and a burgeoning tax code, many in Congress and elsewhere have recognized that now is the time for tax reform. Unfortunately, the political process is often at odds with reform, because it tends to protect the...
This week, the Finance and Appropriations Committees of the North Carolina House of Representatives approved legislation that would significantly reform the state’s tax system. House Bill 998 would reduce...
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