Massachusetts Should Reject Gross Receipts Taxes
Not only is the tax inequitable and inefficient, it also could be what drives businesses and remote workers into another state.
7 min read
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Rate Reductions Would Put Michigan in Top 10
Amid record surpluses, Michigan lawmakers are looking to give relief to taxpayers and enhance the state’s competitive standing.
3 min read
Massachusetts Flavored Tobacco Ban: No Impact on New England Sales
A recent JAMA Internal Medicine study on the impact of the Massachusetts flavored tobacco ban indicates that it has been a success. Unfortunately, it left out a very important piece of information: cross-border trade.
4 min read
Indonesia Reform Simplifies Tobacco Taxes but More Work Remains
More than 300 billion cigarettes are sold each year in Indonesia—making it the world’s second-largest cigarette market to China. As such, it is important how Indonesia taxes tobacco products.
4 min read
Business Tax Refunds Must Be Provided Quickly During Future Downturns
A new report finds many businesses have yet to receive tax refunds that they are due from pandemic-related emergency relief. Future business tax relief must be provided in a timely manner during the next downturn, because delayed tax relief is not much better than no relief at all.
3 min read
Four Issues with Proposal to Increase Tobacco and Vapor Taxes in Maine
Maine’s proposal to increase tobacco and vapor taxes has at least four major issues: flawed revenue allocation, risk of increased smuggling, regressivity, and violation of the harm reduction principle.
4 min read
U.S. Tax Incentives Could be Caught in the Global Minimum Tax Crossfire
The current prospect for the global minimum tax requires the attention of U.S. lawmakers. Otherwise, a tax benefit at home will just mean a tax increase abroad.
6 min read
States Should Act Fast on UC Trust Fund Deposits, and Other Takeaways from the New Treasury Guidance on ARPA Funding
States will continue to cut taxes because revenues are skyrocketing. But some will also be keeping a close eye on litigation targeting this dubious restriction on states’ fiscal autonomy.
8 min read
Tennessee Should Build on Success and Improve Corporate Taxes
While Tennessee now boasts no individual income tax, there is still more work to be done for businesses—Tennessee is in a good position to get the job done.
7 min read
Mississippi Nears Income Tax Repeal but Additional Work Is Necessary
Before declaring victory, it is imperative to get the details right. The latest proposal is a drastic improvement over the last one, but there is still more work to be done if the Magnolia State is to sustain the intended transformation.
7 min read
Taxes, Fiscal Policy, and Inflation
Consumer prices rose by 7 percent in 2021, the highest annual rate of inflation since 1982. Where did this inflation come from and what might its impacts be? Tax and fiscal policy offer important clues.
5 min read
What the US Can Learn from the Adoption (and Repeal) of Wealth Taxes in the OECD
Recent discussions of a proposed wealth tax for the United States have included little information about trends in wealth taxation among other developed nations. However, those trends and the current state of wealth taxes in OECD countries can provide context for U.S. proposals.
4 min read
Bumpy Tax Filing Season Ahead Due to IRS Backlog and Pandemic Tax Relief
The National Taxpayer Advocate argued the IRS telephone service “was the worst it has ever been” in 2021, with an answer rate of about 11 percent.
4 min read
Proposal to Raise Vapor Taxes in Washington State Gets Base and Rate Wrong
Lawmakers in Washington need not revisit their vapor tax. The current tax is levied at an appropriate level and it has the right tax base.
3 min read
Poor Tax Design in Alaska Vapor Tax Proposal
A proposal to introduce a wholesale tax on vapor products in Alaska could make switching from combustible tobacco products very expensive for smokers.
4 min read
California Considers Doubling its Taxes
Practically doubling state taxes—even if the burden is partially offset through state-provided health coverage—could send taxpayers racing for the exits.
6 min read
U.S. Fiscal Response to COVID-19 Among Largest of Industrialized Countries
As the U.S. grapples with rising price inflation, a large and growing national debt, as well as a possible economic slowdown due to Omicron, the decision to provide additional fiscal support will prove to be a difficult one. Policymakers can debate how much stimulus is appropriate, but what is clear is that the U.S. fiscal support so far during the pandemic outranks nearly every industrialized country.
3 min read
A Holiday Tradition: Tax Extenders Slated to Expire at End of 2021
Tax extenders this year can be split into three rough groups: expiring parts of the Tax Cuts and Jobs Act (TCJA), expiring parts of various COVID-19 economic relief packages, and the Island of Misfit Extenders.
8 min read
Gift or Lump of Coal: U.S. Cross-border Tax Changes Won’t Be Home for Christmas
As 2021 comes to a close, countries are moving toward harmonizing tax rules for multinationals, but stalled talks on the Build Back Better Act in the United States means new uncertainties for a global agreement and for taxpayers.
5 min read
What Do Global Minimum Tax Rules Mean for Corporate Tax Policies?
The new OECD global minimum tax rules are complex, and some countries may opt to put them in place on top of preexisting rules for taxing multinational companies. However, countries should also consider ways to reform their existing rules in response to the minimum tax.
7 min read