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Navigating Alaska’s Fiscal Crisis

Analysis of Sen. Warren and Sen. Sanders’ Wealth Tax Plans

New modeling finds that the wealth taxes proposed by Sen. Warren and Sen. Sanders would raise significantly less revenue than promised, face serious administrative and compliance challenges, and would increase foreign ownership of U.S. capital.

The Impact of a Financial Transaction Tax

Policymakers should exercise caution in deciding whether to enact an FTT given the uncertainty regarding the FTT’s ability to raise revenue and the significant damage it could cause to the U.S. financial system

Looking Back on Taxation of Capital Gains

When considering options to eliminate the deferral advantage of capital gains taxation, a lookback charge provides a reasonable solution for taxing hard-to-value assets. However, policymakers need to understand the limitations of a lookback charge compared to both mark-to-market taxation and the current system.

Taxing Nicotine Products: A Primer

New nicotine products, along with a greater consciousness about the dangers of smoking, have prompted millions to give up smoking. This has contributed to federal and state excise tax collections on tobacco products declining since 2010. Our new report outlines the best way to tax nicotine products based on health outcomes and revenue stability.

Measuring Marginal Effective Tax Rates on Capital Income Under Current Law

Economic and Budgetary Impact of Extending Full Expensing to Structures

Full expensing is one of the most powerful pro-growth policies in terms of revenue forgone. Given that structures comprise a large share of the private capital stock, improving their tax treatment would end a large bias against investment in the tax code.

Tax Trends at the Dawn of 2020

From remote sales tax collection to taxes on marijuana and vaping products, we recap the top state tax trends from 2019 and break down which ones you should watch for in 2020.

State Tax Changes as of January 1, 2020

This year was a significant one for state tax policy, and the wide range of changes taking effect January 1, 2020, reflects the scope and intensity of that activity. With states continuing to grapple with issues like the taxation of international income and collections obligations for remote sellers and marketplace facilitators, the coming year is unlikely to be any quieter.

GILTI and Other Conformity Issues Still Loom for States in 2020

Even two years after enactment of the federal Tax Cuts and Jobs Act (TCJA), many states have yet to issue guidance explaining how they conform to key provisions of the law, particularly those pertaining to international income.