Another 1.4 million Americans filed initial regular unemployment benefit claims, the eleventh week of a decline in the rate of new claims, but still among the highest levels in U.S. history. The total number of new and continued claims now stands at 19.3 million, a marked decline from the peak of 24.9 million a month ago.
Jared Walczak is Vice President of State Projects at the Tax Foundation. He is the lead researcher on the annual State Business Tax Climate Index and Location Matters, and has authored or coauthored tax reform guides on Alaska, Iowa, Kansas, Louisiana, Nevada, New York, Pennsylvania, South Carolina, West Virginia, and Wisconsin.
Jared’s work is regularly cited in The New York Times, The Wall Street Journal, The Washington Post, Los Angeles Times, Politico, AP, and many other prominent national and state outlets.
He previously served as legislative director to a member of the Senate of Virginia and as policy director for a statewide campaign, and consulted on research and policy development for a number of candidates and elected officials. In his free time, Jared enjoys hiking and has a goal of visiting all 63 national parks.
Every state with an individual income tax has made some adjustment to its filing or payment deadlines, but three—Idaho, Mississippi, and Virginia—have not followed the federal government’s date of July 15th or later.
State and local governments across the country split $150 billion in federal aid under a provision of the Coronavirus Aid, Relief and Economic Security (CARES) Act, passed on March 30th.
New Jersey is temporarily waiving corporate nexus arising from employees teleworking due to the COVID-19 pandemic—a response to the crisis that other states should follow.
To be eligible for federal funding, state expenditures must meet certain conditions. We break down the state aid coronavirus provisions in the latest federal bill.
During the present crisis, remote work has become a necessity for many people. The tax implications, however, are very real and potentially quite complex.
Unemployment claims are going to tax state unemployment compensation trust funds beyond their limits. We need to start thinking about what to do about it.
The federal government moved tax day from April 15 to July 15 in response to the coronavirus pandemic, granting more time for both filing and payment. But for many taxpayers, it might not matter much if states don’t follow suit.
How the Federal Government and the States Could Help Save Small Businesses Through Temporary UI Tax Adjustments
Governmental responses to the coronavirus outbreak will require creativity and flexibility—and one aspect of that may involve temporarily rethinking how we structure not only unemployment insurance (UI) benefits but also the taxes that pay for them.
In the short term, states must anticipate reduced tax collections as the economy slows. And here, not all taxes are created equal. As a general rule, income taxes are more volatile than consumption taxes.
Taxing GILTI puts states at a competitive disadvantage compared to their peers—all for a tax that makes very little sense at the state level, and which legislators never sought in the first place.
From remote sales tax collection to taxes on marijuana and vaping products, we recap the top state tax trends from 2019 and break down which ones you should watch for in 2020.
Even two years after enactment of the federal Tax Cuts and Jobs Act (TCJA), many states have yet to issue guidance explaining how they conform to key provisions of the law, particularly those pertaining to international income.
Our new report explores the choices states have made regarding sales taxes following the South Dakota v. Wayfair Supreme Court online sales tax decision heading into calendar year 2020, outlines legal pitfalls states should seek to avoid, and offers up a few best practices for designing reliable, equitable, legally-sound remote sales tax regimes.