Join Us for a Free “State Tax Policy Boot Camp”

We’re about to launch a free six-week course in state taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. ation, and we’d like you to join us. This coming Tuesday, February 16th, the Tax Foundation will kick off its “State Tax Policy Boot Camp,” designed with lawmakers and legislative staff in mind, but ideal for anyone interested in gaining a better understanding of state taxation.

Across six sessions in February and March, we’ll get into the weeds on tax policy in ways that really matter—not arcana, but relevant information to better equip policymakers and others to engage in informed deliberation.

Sessions will be held live every Tuesday at 10 AM, with an opportunity to ask questions—but since we know that this won’t fit into everyone’s schedule, we’re also making recordings of each event available after the fact. Whether you can participate live or want to watch or listen to the sessions afterwards, please sign up!

Here are just a few of the questions we’ll tackle in the first two sessions, a sort of Tax Policy 101 on major tax categories like individual and corporate income taxA corporate income tax (CIT) is levied by federal and state governments on business profits. Many companies are not subject to the CIT because they are taxed as pass-through businesses, with income reportable under the individual income tax. es, sales and excise taxAn excise tax is a tax imposed on a specific good or activity. Excise taxes are commonly levied on cigarettes, alcoholic beverages, soda, gasoline, insurance premiums, amusement activities, and betting, and typically make up a relatively small and volatile portion of state and local and, to a lesser extent, federal tax collections. es, property taxA property tax is primarily levied on immovable property like land and buildings, as well as on tangible personal property that is movable, like vehicles and equipment. Property taxes are the single largest source of state and local revenue in the U.S. and help fund schools, roads, police, and other services. es, unemployment insurance taxes, and severance taxes:

• How does multistate income taxation work?
• What are the different approaches to inflation indexingInflation indexing refers to automatic cost-of-living adjustments built into tax provisions to keep pace with inflation. Absent these adjustments, income taxes are subject to “bracket creep” and stealth increases on taxpayers, while excise taxes are vulnerable to erosion as taxes expressed in marginal dollars, rather than rates, slowly lose value. and why do they matter?
• How is corporate income apportioned, and what are the options for how to source services?
• What does it mean to tax Global Intangible Low-Taxed Income (GILTI)Global Intangible Low-Taxed Income (GILTI) is a special way to calculate a U.S. multinational company’s foreign earnings to ensure it pays a minimum level of tax. GILTI was adopted as part of the 2017 Tax Cuts and Jobs Act (TCJA) and can lead to high tax burdens on foreign profits, putting U.S. companies that operate abroad at a disadvantage. and what are the consequences?
• What is an unemployment insurance tax “experience rating” and how will different state approaches impact the post-pandemic recovery?
• What are throwback and throwout rules, what are they designed to accomplish, and what are their economic impacts?
• What are the three types of property tax limitations imposed by states, how do they differ, and what are the trade-offs and unintended consequences?
• How have states differed in their post-Wayfair approaches to taxing remote sales, and where is there still room for improvement?
• What competitiveness considerations and trade-offs are associated with different levels of reliance on different types of taxes?

In the remaining four sessions, we’ll tackle (1) the taxation and tax challenges of remote work; (2) excise taxation on new and existing markets, including marijuana, sports betting, vapor, and cigarettes; (3) new issues in state taxation, like wealth taxA wealth tax is imposed on an individual’s net wealth, or the market value of their total owned assets minus liabilities. A wealth tax can be narrowly or widely defined, and depending on the definition of wealth, the base for a wealth tax can vary. es, digital advertising taxes, and excess compensation taxes; and (4) tax policy and the economic recovery.

Please join us!

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