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State tax burden map, state and local tax burden, state-local tax burden rankings, 2021 state tax burden rankings, state tax burdens map
Data

State and Local Tax Burdens, Calendar Year 2019

New Yorkers faced the highest burden, with 14.1 percent of income in the state going to state and local taxes. Connecticut (12.8 percent) and Hawaii (12.7 percent) followed.

19 min read
Bank Taxes in Europe 2021 Bank Tax, financial stability contributions, 2008 financial crisis tax
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Europe

Bank Taxes in Europe

Today’s map shows which European OECD countries implemented financial stability contributions (FSCs), commonly referred to as “bank taxes.”

2 min read
State business inventory tax. Does your state tax business inventory? Are businesses tax on inventory? Explore state business tangible personal property tax as of July 1, 2020,taxes on business inventory, inventory taxes
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Does Your State Tax Business Inventory?

Inventory taxes are levied regardless of whether a business makes a profit, adding to the burden of businesses already struggling to stay afloat.

2 min read
Property taxes in Europe 2021 reliance on property tax revenue in Europe, 2021 property tax rates in Europe
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Europe

Reliance on Property Taxes in Europe

Property taxes are levied on the assets of an individual or business. There are different types of property taxes, with recurrent taxes on immovable property (such as property taxes on land and buildings) the only ones levied by all countries covered. Other types of property taxes include estate, inheritance, and gift taxes, net wealth taxes, and taxes on financial and capital transactions.

1 min read
Gross Receipts Taxes 2021 State Gross Receipts Tax Rates Which States Have a Gross Receipts Tax What States Charge Gross Receipts Tax Texas Gross Receipts Tax
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Gross Receipts Taxes by State, 2021

Moving away from state gross receipts taxes would represent a pro-growth change to make the tax code friendlier to businesses and consumers alike, which is especially necessary in the wake of the coronavirus pandemic.

3 min read
Consumption taxes in Europe, reliance on consumption taxes in Europe, reliance on consumption tax revenue in Europe, taxes on goods and services in Europe
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Europe

Reliance on Consumption Taxes in Europe

Hungary relies the most on consumption tax revenue, at 45.3 percent of total tax revenue, followed by Latvia and Estonia at 45.1 percent and 42.4 percent, respectively.

2 min read
2021 combined federal and state corporate income tax rates. 2021 federal and state corporate tax rates. combined corporate income tax ratesDo corporations pay state and federal taxes?
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Combined State and Federal Corporate Income Tax Rates in 2021

The state with the highest combined corporate income tax rate is New Jersey, with a combined rate of 30.1 percent. Corporations in Alaska, California, Illinois, Iowa, Maine, Minnesota, and Pennsylvania face combined corporate income tax rates at or above 28 percent.

3 min read
2021 state estate tax, 2021 state inheritance tax, states with estate tax, states with inheritance tax, which states have an estate tax? Which states have an inheritance tax? Which states do not have an estate or inheritance tax?
Data

Estate and Inheritance Taxes by State, 2021

In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax. Twelve states and Washington, D.C. impose estate taxes and six impose inheritance taxes. Maryland is the only state to impose both. Most states have been moving away from estate or inheritance taxes or have raised their exemption levels, as estate taxes without the federal exemption hurt a state’s competitiveness.

3 min read