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2021 NOL Carryforward Policies in Europe

Net Operating Loss Carryforward and Carryback Provisions in Europe, 2021

Many companies have investment projects with different risk profiles and operate in industries that fluctuate greatly with the business cycle. Carryover provisions help businesses “smooth” their risk and income, making the tax code more neutral across investments and over time.

7 min read
2021 Wine States by State

How High Are Wine Taxes in Your State?

States tend to tax wine at a higher rate than beer but at a lower rate than distilled spirits due to wine’s mid-range alcohol content. You’ll find the highest wine excise taxes in Kentucky at $3.23 per gallon, far above Alaska’s second-place $2.50 per gallon. Those states are followed by Florida ($2.25), Iowa ($1.75), and Alabama and New Mexico (tied at $1.70).

2 min read
Worldwide investment at risk as business tax reform critical to capital investment costs expire and phase out Child Tax Credit changes and Child Tax credit reform options States should follow federal lead in postponing tax day

Net Operating Loss Policies in the OECD

During the COVID-19 pandemic, several OECD countries temporarily expanded their NOL carrybacks and carryforwards to provide relief to illiquid but otherwise solvent businesses. These policies should be made permanent and, where necessary, expanded.

21 min read

New Hampshire Closes in on Tax Cuts to Enhance State’s Competitive Advantage

New Hampshire lawmakers are scheduled to take up a budget conference report which contains several tax reforms negotiated by both chambers that would ultimately make New Hampshire the ninth state to impose no tax on individual income. These reforms floated at the beginning of the 2021 session found their way into HB 2, including rate reductions in the Business Profits Tax (BPT) and Business Enterprise Tax (BET) and a phaseout of the interest and dividends tax.

4 min read
Spain digital services tax Spain falling behind on digitalization, Spain Digital Tax, Digital Services Tax

Spain Determined to Cash in on Digital Services Tax

Spain’s digital services tax levies a 3 percent tax on revenues from online ads, deals brokered on digital platforms, and sales of user data by tech companies with at least €750 million (US $893 million) in total annual worldwide revenues and Spanish revenues of €3 million ($3.57 million).

4 min read