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How the Section 232 Tariffs on Steel and Aluminum Harmed the Economy
Data

Corporate Investment Outweighs Federal Revenue Losses Since TCJA

The Biden administration has argued for raising the corporate tax rate to offset the drop in federal corporate revenues following the Tax Cuts and Jobs Act (TCJA) of 2017, claiming it did not lead to more corporate investment as advertised. Although corporate revenues did drop following this tax reform, the ensuing increase in corporate investment far exceeds these revenue losses.

1 min read
State infrastructure revenue and state infrastructure spending, How are roads funded in your state? Road funding by state, infrastructure spending by state, infrastructure revenue by state, gas taxes and tolls 2021
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How Are Your State’s Roads Funded?

Traditionally, revenue dedicated to infrastructure spending has been raised through taxes on motor fuel, license fees, and tolls, but revenue from motor fuel has proven less effective over the last few decades.

4 min read
Inventory Valuation Method in Europe 2021, First-in, First-out (FIFO); Last-in, First-out (LIFO);
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Europe

Inventory Valuation in Europe

The method by which a country allows businesses to account for inventories can significantly impact a business’s taxable income. When prices are rising, as is usually the case due to factors like inflation, LIFO is the preferred method because it allows inventory costs to be closer to true costs at the time of sale.

2 min read
State local tax collections per capita in your state, 2021 state and local tax collections per capita in your state, 2021 state and local tax collections per capita by state
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How High Are State and Local Tax Collections in Your State?

Although Tax Day has been pushed back this year, mid-April is still a good occasion to take a look at tax collections in the United States. Because differing state populations can make overall comparisons difficult, today’s state tax map shows state and local tax collections per capita in each of the 50 states and the District of Columbia.

2 min read
2021 corporate tax rates in Europe, 2021 corporate income tax rates in Europe, 2021 corporate taxes in Europe, 2021 corporate tax rates in Europe
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Europe

Corporate Income Tax Rates in Europe, 2021

On average, European OECD countries currently levy a corporate income tax rate of 21.7 percent. This is below the worldwide average which, measured across 177 jurisdictions, was 23.9 percent in 2020.

2 min read
State vaping taxes 2021 state vaping tax rates and vaping taxes by state. 2021 state vapor tax rates (Vape and e-cigarette taxes)
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Vaping Taxes by State, 2021

Several states are considering introducing or increasing taxes on vapor products to make up declining tax revenue from traditional tobacco products or to fill budget holes in the wake of the coronavirus pandemic. However, lawmakers should approach the issue carefully because flawed excise tax design on vapor products could drive consumers back to more harmful combustible products like cigarettes.

3 min read
depreciation Capital allowances and capital cost recovery across OECD countries, 2021. Learn more about capital allowance and capital recovery.
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Capital Cost Recovery across the OECD, 2021

The ongoing pandemic has once again highlighted the importance of investment. To address the economic fallout of the pandemic, several OECD countries have temporarily accelerated depreciation schedules for various assets.

31 min read