One of the provisions under consideration in the tax extenders discussion is a reinstatement of 50 percent bonus expensing for equipment. This would strengthen investment spending and boost the sluggish recovery. It has...
- Orange County Register quotes Mark Robyn on state tax collections
Orange County Register quotes Mark Robyn on state tax collections
Calif. tax revenue jump 6th highest in U.S.
By Jan Norman
Published: April 24, 2012
Economist Mark Robyn of the Tax Foundation, a Washington DC advocacy group, said "The recent increase in state tax collections is consistent with the gradual recovery from the so-called Great Recession. As economic activity picks up we expect to continue seeing increases in tax payments, in particular from sources like the corporate income tax, which is highly dependent on the health of the economy."
In spite of California's increased collections, the state budget is facing a $6 billion deficit this year because Gov. Brown and the legislature were counting on even higher revenues. Two efforts are underway to put tax increase proposals in the statewide ballot in November.
- The four different tax bases for calculating corporate tax are reduced to three as of FY 2015 (eliminating the corporate AMT base) and further reduced to two over time (eliminating...
Indiana tax reforms in the past few years have been impressive. In 2011, state senator Brandt Hershman addressed a weak link in the state’s tax code by leading a bill that set the corporate income tax rate on a four-year...
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