Blog Articles
Reviewing the Economic and Revenue Implications of Cost Recovery Options
Permanent full expensing for all types of investment is an effective policy change lawmakers can use to encourage additional investment and economic growth.
9 min readReviewing the Benefits of Full Expensing for the Post-Pandemic Economic Recovery
One of the most cost-effective policy changes would be to make full expensing of machinery and equipment permanent and extend this important tax treatment to structures as well as for firms in a net operating loss position.
7 min readApril 24th Afternoon State Tax Update
Virginia enacted a biennial budget, which includes a new excise tax on “skill games.” Meanwhile, Arizona and Connecticut announced plans to convene in special sessions later this year while Oklahoma gets the green light to use rainy day fund money to close budget gaps.
4 min readHistoric Oil Price Burns Hole in State Budgets
Alaska and North Dakota collect revenue primarily from oil-related taxes. These states must start thinking about how to plan for an era of reduced oil revenue.
5 min readLouisiana Can Look to Tax Reform for Aid in a Post-Coronavirus Recovery
As states look for a path out of these fiscally troubling times, Louisiana has several options for aspects of its tax code to promote economic recovery and growth. The Pelican State’s federal deductibility, Corporation Franchise Tax, and sales tax structure present opportunities for beneficial tax reform in the wake of the coronavirus crisis.
3 min readWatch: State Tax Policy and COVID-19
What could the next phase of relief look like and what role does tax policy play in ensuring the U.S. and countries around the world make a strong economic recovery?
1 min readNew Guidance on State Aid Under the CARES Act
The U.S. Department of the Treasury recently issued new guidance on allowable expenses using the $150 billion in state aid provided under the CARES Act, a point on which there has been considerable confusion.
3 min readSenate Passes Additional Funding for Small Business Relief, But Questions Remain on the Deductibility of PPP Expenses
The sooner federal policymakers or regulators clarify tax questions about the Paycheck Protection Program (PPP), the more certainty firms will have when they accept the economic relief to keep their businesses afloat.
3 min readKeeping it Simple: Approaching the Next Stage of Coronavirus Tax Policy
When businesses and taxpayers look to the government for relief, it is paramount that lawmakers do their best to craft transparent and coherent legislation that is the least confusing for all.
4 min readTax Policy After Coronavirus: Clearing a Path to Economic Recovery
Governments at all levels must work to remove the tax policy barriers that stand in the way of economic recovery and long-term prosperity following the COVID-19 crisis. Our new guide outlines several comprehensive options that policymakers can take at the federal and state levels.
26 min readStates Should Be Allowed to Levy Sales Taxes on Internet Access
On July 1, sales taxes levied on internet access in six states—Hawaii, New Mexico, Ohio, South Dakota, Texas, and Wisconsin—will become illegal under the provisions of the Permanent Internet Tax Freedom Act (PITFA)
4 min readA Review of Net Operating Loss Tax Provisions in the CARES Act and Next Steps for Phase 4 Relief
In addition to providing economic relief to individuals and loans to businesses struggling during the coronavirus crisis, the CARES Act changed several tax provisions to increase liquidity to ensure firms survive a large decline in cash flow.
7 min readNew OECD Study: Consumption Tax Revenues during Economic Downturns
Compared to other tax revenue sources, consumption tax revenue as a share of GDP tends to be relatively stable over time, even during economic downturns.
2 min readIs Now the Time for a $100 billion Tax Increase?
Seemingly unconcerned about how the digital project could impact the economy at this crisis moment, officials at the OECD recently released a statement boasting that they are continuing to work “full steam” on their global digital tax project.
5 min readApril 10th Afternoon State Tax Update
California extends tax filing and payment deadline to July 31 for a broad spectrum of business taxes as Virginia keeps May 1st tax filing deadline.
5 min readTrade-offs of Delaying Tax Filing and Instituting a Payroll Tax Holiday on Businesses and Individuals
Some policymakers are proposing a payroll tax holiday for businesses and individuals for 2020 and a complete delay in filing deadlines for tax year 2019 and 2020 to April 2021. What are the pros and cons of doing so?
4 min readEvaluating the Trade-offs of Small Business Relief Provisions of the CARES Act
The small business provisions in the CARES Act support small businesses and nonprofits seeking economic relief during this downturn. However, creating multiple programs with overlapping purposes and differing qualification requirements makes relief more complicated, vague, and not neutral.
6 min read