Blog
Short FormWhy Your Tax Refund Is Nothing to Celebrate
Don’t be fooled by tax myths and misconceptions this tax filing season.
3 min read
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Tangible Personal Property De Minimis Exemptions by State, 2024
Does your state have a small business exemption for machinery and equipment?
3 min read
Portugal’s Corporate Taxes Stifle Investment and Economic Growth
Portugal has the second highest top corporate tax rate in the OECD at 31.5 percent, including multiple top-up taxes. Unlike most OECD countries, Portugal imposes a highly progressive tax structure on corporate income.
6 min read
Virginia Considers Expanding Its Sales Tax Base to B2B Digital Services
Expanding Virginia’s sales tax base to include B2B digital transactions could lead to tax pyramiding, hide the true cost of government, and make the sales tax system much less neutral and transparent.
5 min read
Sustainably Reforming Social Security and Medicare Will Need More than Just Tax Hikes
Creative options including changes in Social Security benefits growth for higher earners and reforms to how Medicare compensates for health services should be on the table, along with broad-based and well-structured tax reforms.
6 min read
The Fatal Flaw of Pillar Two
Pillar Two, the international global minimum tax agreement, has a considerable chance of failing and may ultimately allow the same problems it was designed to address.
6 min read
Wealth Taxes in Europe, 2024
Only three European countries levy a net wealth tax—Norway, Spain, and Switzerland. France and Italy levy wealth taxes on selected assets.
4 min read
The Biden Administration’s Misguided Approach to Defining “American” Companies
What does it mean to be an American company?
4 min read
Savings and Investment: The Tax Treatment of Stock and Retirement Accounts in the OECD and Select EU Countries (2024)
Tax-preferred private retirement accounts often have complex rules and limitations. Universal savings accounts could be a simpler alternative—or addition—to many countries’ current system of private retirement savings accounts.
19 min read
State Individual Income Tax Rates and Brackets, 2024
Individual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections. How do income taxes compare in your state?
8 min read
New CBO Report Shows Pandemic Response Sharply Reduced Inequality, Increased Progressivity in 2020
The pandemic led to one of the largest fiscal responses in U.S. history, impacting households across the income distribution.
4 min read
Blog
Short FormHow Are Remote and Hybrid Workers Taxed?
Working from home is great. The tax complications? Not so much.
4 min read
Tax Foundation Europe Launches Website and Prepares Brussels Office
The landscape of tax policy is changing—and we at the Tax Foundation are changing with it.
3 min read
Major Takeaways from CBO’s Updated Long-Term Outlook
The CBO projects deficits will be higher than historical levels, largely due to growth in mandatory spending programs While some recent legislation has reduced the deficit, the Inflation Reduction Act is proving to be more expensive than originally promised.
5 min read
Top Personal Income Tax Rates in Europe, 2024
Denmark (55.9 percent), France (55.4 percent), and Austria (55 percent) have the highest top statutory personal income tax rates among European OECD countries.
3 min read
Canada’s Tax-Free Savings Accounts Are a Huge Success. U.S. Lawmakers Should Take Note
For most Americans, saving is a taxing experience. Our neighbors to the north have found a better solution—and U.S. lawmakers should take note.
5 min read
Proposed “Junk Fee” Rule Would Create Inadvertent Tax Headaches
One particular provision of the Biden administration’s proposal to ban so-called “junk fees” would have unintended consequences.
5 min read
Treasury Finds TCJA Interest Limitations Had Small Impact on Corporate Activity
Limiting interest deductibility continues to be a worthwhile policy goal, but given the current climate, policymakers should opt to pair any further limitations with other pro-growth policies such as full expensing to ensure firms’ incentives to invest are preserved.
3 min read
State and Local Sales Tax Rates, 2024
Retail sales taxes are an essential part of most states’ revenue toolkits, responsible for 32 percent of state tax collections and 13 percent of local tax collections (24 percent of combined collections).
9 min read
Latest SALT Deduction Cap Proposal Increases Budget Deficit, Creates New Tax Cliffs, and is Regressive
From a revenue standpoint, about $9 billion of the $11.7 billion in lost revenue would accrue to joint filers earning more than $200,000.
5 min read