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The Tax Foundation is the world’s leading independent tax policy 501(c)(3) nonprofit. For over 80 years, our mission has remained the same: to improve lives through tax policies that lead to greater economic growth and opportunity.

Our Center for Federal Tax PolicyCenter for State Tax Policy, and Center for Global Tax Policy each produce timely and high-quality research and analysis that influences the debate toward economically principled tax policies. Our experts are continuously analyzing the day’s most relevant tax policy topics and are relied upon routinely for presentations, testimony, and media appearances on tax issues spanning every level of government.

Likewise, providing journalists, taxpayers, and policymakers with basic data on taxes and spending has been a cornerstone of the Tax Foundation’s educational mission since its founding. As we wrote in our first edition of Facts & Figures in 1941, “Facts give a broader perspective; facts dissipate predilections and prejudices…[and are] an important step to meet the challenge presented by the broad problems of public finance.”

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1249 Results
2021 state capital stock tax, 2021 state franchise tax, 2021 state capital stock taxes and state franchise taxes. Which states have a capital stock tax or franchise tax

Does Your State Levy a Capital Stock Tax?

Capital stock taxes are imposed on a business’s net worth (or accumulated wealth). As such, the tax tends to penalize investment and requires businesses to pay regardless of whether they make a profit in a given year, or ever.

4 min read
State tax burden map, state and local tax burden, state-local tax burden rankings, 2021 state tax burden rankings, state tax burdens map

State and Local Tax Burdens, Calendar Year 2019

New Yorkers faced the highest burden, with 14.1 percent of income in the state going to state and local taxes. Connecticut (12.8 percent) and Hawaii (12.7 percent) followed.

19 min read
Bank Taxes in Europe 2021 Bank Tax, financial stability contributions, 2008 financial crisis tax

Bank Taxes in Europe

Today’s map shows which European OECD countries implemented financial stability contributions (FSCs), commonly referred to as “bank taxes.”

2 min read
State business inventory tax. Does your state tax business inventory? Are businesses tax on inventory? Explore state business tangible personal property tax as of July 1, 2020,taxes on business inventory, inventory taxes

Does Your State Tax Business Inventory?

Inventory taxes are levied regardless of whether a business makes a profit, adding to the burden of businesses already struggling to stay afloat.

2 min read
Property taxes in Europe 2021 reliance on property tax revenue in Europe, 2021 property tax rates in Europe

Reliance on Property Taxes in Europe

Property taxes are levied on the assets of an individual or business. There are different types of property taxes, with recurrent taxes on immovable property (such as property taxes on land and buildings) the only ones levied by all countries covered. Other types of property taxes include estate, inheritance, and gift taxes, net wealth taxes, and taxes on financial and capital transactions.

1 min read
Gross Receipts Taxes 2021 State Gross Receipts Tax Rates Which States Have a Gross Receipts Tax What States Charge Gross Receipts Tax Texas Gross Receipts Tax

Gross Receipts Taxes by State, 2021

Moving away from state gross receipts taxes would represent a pro-growth change to make the tax code friendlier to businesses and consumers alike, which is especially necessary in the wake of the coronavirus pandemic.

3 min read
Consumption taxes in Europe, reliance on consumption taxes in Europe, reliance on consumption tax revenue in Europe, taxes on goods and services in Europe

Reliance on Consumption Taxes in Europe

Hungary relies the most on consumption tax revenue, at 45.3 percent of total tax revenue, followed by Latvia and Estonia at 45.1 percent and 42.4 percent, respectively.

2 min read
2021 combined federal and state corporate income tax rates. 2021 federal and state corporate tax rates. combined corporate income tax ratesDo corporations pay state and federal taxes?

Combined State and Federal Corporate Income Tax Rates in 2021

The state with the highest combined corporate income tax rate is New Jersey, with a combined rate of 30.1 percent. Corporations in Alaska, California, Illinois, Iowa, Maine, Minnesota, and Pennsylvania face combined corporate income tax rates at or above 28 percent.

2 min read
2021 state estate tax, 2021 state inheritance tax, states with estate tax, states with inheritance tax, which states have an estate tax? Which states have an inheritance tax? Which states do not have an estate or inheritance tax?

Does Your State Have an Estate or Inheritance Tax?

In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax. Twelve states and Washington, D.C. impose estate taxes and six impose inheritance taxes. Maryland is the only state to impose both. Most states have been moving away from estate or inheritance taxes or have raised their exemption levels, as estate taxes without the federal exemption hurt a state’s competitiveness.

3 min read
PPP state tax PPP loan forgiveness. State tax treatment of PPP loans. States tax forgiven PPP loans August 23 2021

Which States Are Taxing Forgiven PPP Loans?

Congress chose to exempt forgiven Paycheck Protection Program (PPP) loans from federal income taxation. Many states, however, remain on track to tax them by either treating forgiven loans as taxable income, denying the deduction for expenses paid for using forgiven loans, or both.

7 min read
Reliance on individual income tax revenue in Europe 2019

Reliance on Individual Income Tax Revenue in Europe

Denmark relies the most on revenue from individual income taxes, at 52.4 percent of total tax revenue, followed by Iceland and Ireland at 40.8 percent and 31.5 percent, respectively.

1 min read
Individual Taxes Are the Most Important Tax Revenue Source for the United States Sources of Tax Revenue in the United States US tax revenue, governmetn revenue in the US, US federal tax revenue 2021

Sources of U.S. Tax Revenue by Tax Type, 2021 Update

In the United States, individual income taxes (federal, state, and local) are the primary source of tax revenue, at 41.5 percent of total tax revenue. Social insurance taxes make up the second-largest share, at 24.9 percent, followed by consumption taxes, at 17.6 percent, and property taxes, at 12.1 percent.

4 min read
2021 state income tax rates. 2021 state individual income tax rates. States with no income tax. 2021 top state marginal individual income tax rates

State Individual Income Tax Rates and Brackets, 2021

Individual income taxes are a major source of state government revenue, accounting for 37 percent of state tax collections in fiscal year (FY) 2017. Several states had notable individual income tax changes in 2020: Arizona, Arkansas, Massachusetts, Michigan, Minnesota, North Carolina, Ohio, Tennessee, Virginia, and Wisconsin.

22 min read
Reliance on corporate tax revenue in Europe 2021 reliance on corporate income taxes in Europe how much do countries in europe rely on corporate income taxes? revenue from corporate income

Reliance on Corporate Income Tax Revenue in Europe

Despite declining corporate income tax rates over the last 30 years in Europe (and other parts of the world), average revenue from corporate income taxes as a share of total tax revenue has not changed significantly compared to 1990.

1 min read
Canada's Provinces Collect Almost the Same Amount of Revenue as Its Central Government Sources of OECD Tax Revenue by Level of Government, 2019, Sources of tax revenue in the OECD tax revenue

Sources of Government Revenue in the OECD, 2021 Update

Developed countries have on average become more reliant on consumption taxes and less reliant on individual income taxes. These policy changes matter, considering that consumption-based taxes raise revenue with less distortionary effects than taxes on income.

16 min read
State tax reliance, State income tax reliance. How much do states rely on income taxes? To what extent does your state rely on individual income taxes in 2021?

To What Extent Does Your State Rely on Individual Income Taxes?

Sources of state revenue have come under closer scrutiny in light of the impact of the coronavirus pandemic, as different tax types have differing volatility and economic impact—although even beyond these unique circumstances, it is important for policymakers to understand the trade-offs associated with different sources of tax revenue.

4 min read
2021 financial transaction taxes in Europe, 2021 financial transaction tax Europe. European OECD countries impose a type of FTT.

Financial Transaction Taxes in Europe

Belgium, Finland, France, Ireland, Italy, Poland, Spain, Switzerland, Turkey, and the United Kingdom currently levy a type of financial transaction tax

2 min read