Comparing Europe’s Tax Systems: Consumption Taxes
How do consumption tax codes compare among European OECD countries? Explore our new map to see how consumption tax systems in Europe compare.
2 min read
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Ranking Corporate Income Taxes on the 2021 State Business Tax Climate Index
The corporate tax component of our Index measures each state’s principal tax on business activities. Most states levy a corporate income tax on a company’s profits (receipts minus most business expenses, including compensation and the cost of goods sold), while some states levy gross receipts taxes, which allow few or no deductions for a company’s expenses.
2 min read
A Preliminary Look at 2019 Tax Data for Individuals
The latest IRS data continues to illustrate that the net effect of the Tax Cuts and Jobs Act was to reduce effective tax rates across income groups. In 2019, the TCJA again expanded the use of several deductions and credits, made the standard deduction more favorable than itemizing, and lowered taxes for most taxpayers.
4 min read
Comparing Europe’s Tax Systems: Individual Taxes
How do individual income tax codes compare among European OECD countries? Explore our new map to see how individual income tax systems in Europe compare.
3 min read
Tax Treatment of Groceries, Candy, and Soda Can Get Tricky
Even in 2020, jack-o’-lanterns and fake skeletons have popped up in neighborhoods as they do every October, although Halloween may look and play out differently this time around.
4 min read
2021 Tax Brackets
The IRS recently released the new 2021 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.
6 min read
Comparing Europe’s Tax Systems: Corporate Taxes
A tax code that is competitive and neutral promotes sustainable economic growth and investment while raising sufficient revenue for government priorities.
3 min read
How Many Sales Tax Jurisdictions Does Your State Have?
Following the Wayfair decision, states’ move to tax online sales has increased the importance of simplicity in sales tax systems, as sellers now have to deal with differing regulations in multiple states. There are over 11,000 standard sales tax jurisdictions in the United States in 2020
2 min read
Carbon Taxes in Europe, 2020
17 European countries have implemented a carbon tax, ranging from less than €1 per metric ton of carbon emissions in Ukraine and Poland to over €100 in Sweden.
3 min read
Congressional Budget Office Releases 2017 Data on Household Income and Tax Burdens
Contrary to the perceptions of some, new data indicate that (1) income earned after taxes and transfers has increased over the past several decades for all income groups; (2) the federal tax system is increasingly progressive; and (3) that system relies heavily on higher earners to raise revenue for government services and means-tested transfers.
3 min read