Our updated analysis of the state-by-state impact of the Tax Cuts and Jobs Act shows that the new federal tax law will create 215,000 full-time equivalent jobs in 2018. Here’s how each state will be affected.
A look at the data & methodology behind the Tax Foundation’s Mapping 2018 Tax Reform project which compares average 2018 tax cuts by congressional district.
While the burden of Trump’s tariffs will ultimately be felt by most U.S. consumers, two-thirds of the new taxes will be initially borne by 10 states.
Taxpayers reported $10.4 trillion of total income on their 2015 tax returns. This report breaks down the sources of this income: wages and salaries, business income, investment income, and retirement income.
Recent data show that Americans stand out for consuming much more than they invest, and this is due in part to the tax code’s bias against savings.
The Tax Cuts and Jobs Act significantly reduced the federal statutory corporate income tax rate. When combined with state and local taxes, it put the U.S.’s corporate tax rate in line with the average among OECD nations.
With the passage of the Tax Cuts and Jobs Act (TCJA), many tax brackets, thresholds, and rates will change in 2018. Explore 2018 tax brackets, standard and personal exemptions, earned income tax credit, and more.
Whether your state’s corporate income tax code conforms to the federal corporate income tax code matters a great deal for how the Tax Cuts and Jobs Act will impact revenue in your state.