As part of his new tax plan, the president has proposed ending the “step-up” in tax basis for inherited assets, and, furthermore, requiring the capital gains tax to be paid at death rather than when an heir later sells...
- State Tax Studies: 1959-1967
State Tax Studies: 1959-1967
Research Publication No. 13
Foreword Since 1959 nearly every state has either introduced a new major tax or raised the rate at which one or more of its major taxes is imposed. The average state has seen five such tax-increasing measures in the past eight years. These have been in addition to higher imposts in thousands of ' local jurisdictions. Such measures, together with steady growth other taxes, have been the primary force behind the estimated doubling in tax collection between 1959 and 1968.
Tax decisions in the states are influenced by political, social, and economic circumstances which differ from state to state; and by individuals and organizations, both within and outside government. This report examines one device which has frequently served as background to discussions of tax policy changes—the official state tax study.
This report is designed to serve as a guide to state studies over the past eight and a half years. It aims to acquaint readers with the kinds of tax problems and issues which the states have been struggling to resolve. Moreover, those interested in launching a new tax study may find the reported experience of other groups instructive.
Elsie M. Watters, Director of State-Local Research, was primarily responsible for the direction and preparation of the study. Hani Sayegh of the Research Staff assisted with the study and prepared the annotated listings presented in Section V.
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