Recreational Marijuana Taxes by State, 2022
Recreational marijuana taxation is one of the hottest policy issues in the U.S. Currently, 19 states have implemented legislation to legalize and tax recreational marijuana sales.
6 min read
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Putting a Face on America’s Estate Tax Returns
While supporters of the federal estate tax may be correct that only a fraction of estate tax returns eventually pays the estate tax, IRS data shows that it disproportionately impacts estates tied to successful privately owned businesses. Thus, it acts as a second or third layer of federal tax on these successful businesses over the owners’ lifetime.
9 min read
Comparing Europe’s Tax Systems: Corporate Taxes
According to the corporate tax component of the 2022 International Tax Competitiveness Index, Latvia and Estonia have the best corporate tax systems in the OECD.
3 min read
2023 Tax Brackets
The IRS recently released the new inflation adjusted 2023 tax brackets and rates. Explore updated credits, deductions, and exemptions, including the standard deduction & personal exemption, Alternative Minimum Tax (AMT), Earned Income Tax Credit (EITC), Child Tax Credit (CTC), capital gains brackets, qualified business income deduction (199A), and the annual exclusion for gifts.
4 min read
Taxes and Interstate Migration: 2022 Update
IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
12 min read
Windfall Profit Taxes in Europe, 2022
It’s unlikely these implemented and proposed windfall taxes will achieve their goals of addressing high gas and energy prices and raising additional revenues. They would more likely raise prices, penalize domestic production, and punitively target certain industries without a sound tax base.
9 min read
Combined Federal and State Corporate Income Tax Rates in 2022
When examining tax burdens on businesses, it is important to consider both federal and state corporate taxes. Corporate taxes are one of the most economically damaging ways to raise revenue and are a promising area of reform for states to increase competitiveness and promote economic growth, benefiting both companies and workers.
3 min read
Net Operating Loss Carryforward and Carryback Provisions in Europe, 2022
Carryover tax provisions help businesses “smooth” their risk and income, making the tax code more neutral across investments and over time.
4 min read
Property Taxes by State and County, 2022
Property taxes are the primary tool for financing local government and generating state-level revenue in some states as well.
5 min read
Inflation and Europe’s Personal Income Taxes
With continued concerns over inflation, individuals may be wondering how their tax bills will be impacted. Less than half of OECD countries in Europe automatically adjust income tax brackets for inflation every year.
3 min read