Jared Walczak

Top Rates in Each State Under Joe Biden’s Tax Plan

President Joe Biden’s tax plan would yield combined top marginal state and local rates in excess of 60 percent in three states: California, Hawaii, and New Jersey (also New York City).

Arizona Proposition 208 Threatens Arizona’s Status as a Destination for Interstate Migration

Significantly raising the income tax through Proposition 208 will only serve to make Arizona less competitive, especially at a time when individuals and small businesses are already struggling. If Arizona is looking for a long-term way to increase education funding, it would do well to avoid overburdening struggling taxpayers and look toward more broad-based, stable sources of revenue.

Twelve Things to Know About the “Fair Tax for Illinois”

Heading into Election Day, the Illinois legislature and Governor J.B. Pritzker (D) are trying to convince voters to scrap a key constitutional feature of Illinois’ tax system: a provision in the state constitution that prohibits a graduated-rate income tax.

State and Local Tax Ballot Measures to Watch on Election Day 2020

Here are the state tax ballot measures to watch on Election Day 2020. Explore the most notable 2020 state tax ballot measures in 15 states.

Republican Study Committee Workforce Plan Rethinks Education, Labor, and Welfare Tax Policy

The House Republican Study Committee released a proposal, “Reclaiming the American Dream,” which includes 118 policy recommendations to address education, labor, and welfare policy with the aim of expanding opportunity, liberty, and free enterprise for all Americans.

New Census Data Shows States Beat Revenue Expectations in FY 2020

State tax revenue collections were down 5.5 percent in FY 2020, driven by a dismal final quarter (April through June) as states began to feel the impact of the COVID-19 pandemic. While these early losses are certainly not desirable, they are manageable and far better than many feared.

New York Stock Exchange Signals Willingness to Relocate Servers to Avoid Proposed New Jersey Financial Transaction Tax

As the NYSE prepares to conduct a test of their server capacity elsewhere, New Jersey lawmakers may be forced to rethink the viability of their financial transaction tax proposal.

Teleworking Employees Face Double Taxation Due to Aggressive “Convenience Rule” Policies in Seven States

States can tax your income where you live and where you work—but a growing number of states may also seek to tax your income even if you neither live nor work there, an aggressive posture that becomes increasingly consequential as more Americans work remotely both during and potentially after the COVID-19 pandemic.

State Income and Sales Tax Revenues Slide in Second Quarter

Today marked the release of second-quarter GDP data and provides a new glimpse into early changes in state and local revenues and spending. All told, second-quarter state and local tax receipts came in about 3.8 percent lower than they did in the same quarter a year ago. Income and sales taxes fell considerably while property and excise tax collections remained stable.

New York and New Jersey Consider Financial Transaction Taxes

Seeking new sources of funding, New York and New Jersey—two states at the heart of global financial markets—are considering financial transaction taxes.

(Webinar) Figuring Out Phase Four: Next Steps on Federal and State Coronavirus Response

As U.S. businesses struggle to recover from the economic downturn, Congress and the White House continue to debate a phase four relief package, which could include anything from incentives for domestic travel and a payroll tax cut to more fundamental reforms like enacting permanent full cost recovery.

State Forecasts Indicate $121 Billion 2-Year Tax Revenue Losses Compared to FY 2019

Revised state revenue forecasts show a significant decline in projected revenues for both the recently concluded FY 2020 and current FY 2021, though the picture they paint is considerably less dire than many feared a few months ago.

What Can Connecticut Learn from its Neighbors About Property Tax Limitations?

Property tax burdens in Connecticut continue to increase even as property values decline, whereas other states—including neighboring Massachusetts and New York—have managed to keep the growth of property tax burdens in check.

D.C. Proposal to Include Advertising in Sales Tax Won’t Work as Advertised

Seattle Officials Return with New Proposal for Taxing Employment

Seattle’s city council are again gearing up for an effort to increase taxes on the city’s largest employers, intended to generate revenue for cash assistance to low-income households impacted by the COVID-19 crisis, among other reasons.

D.C. Council to Consider Tax Hike Despite Balanced Budget

Despite a balanced budget and and revenue shortfalls arising from the coronavirus crisis, the D.C. Council will consider proposals to raise income taxes to fund newly proposed spending projects.

New York Lawmakers Float New Data Tax Proposal

Taxes on digital services, digital advertising, and the sale or utilization of consumer data, which were already emerging before the #coronavirus crisis, look increasingly attractive to cash-strapped states and localities.

California Considers Business Head Tax Plan that Seattle Repealed

With California’s unemployment rate approaching 25 percent, it is somewhat surprising to find policymakers contemplating a literal tax on jobs.

Tax Changes in California Governor’s Budget Could Stand in the Way of Economic Recovery

While other states are starting to think about the recovery, California is contemplating tax policies that would stand in the way of economic expansion once the health crisis abates. California’s shortfall is all too real, but tax policies which impede recovery are a hindrance, not a help.

Breaking Down State and Local Aid under the SMART Act

The SMART Act, sponsored by Senators Bob Menendez and Bill Cassidy and Rep. Mikie Sherrill, would provide $500 billion in flexible funding to state and local governments.