OECD Report: Tax Revenue as a Percent of GDP in Latin American and Caribbean Countries Is below the OECD Average
Taxes on goods and services were on average the greatest source of tax revenue for Latin American and Caribbean countries
5 min read
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Louisiana Aims at Comprehensive Tax Reform
While many of the tax proposals work in tandem, some conflicts continue to exist. If lawmakers were able to repeal federal deductibility, reduce income tax rates, finish the job on inventory taxation, and phase out the capital stock tax, this would represent a marked improvement in the state’s tax climate, eliminating several of the most uncompetitive features of the current code.
6 min read
State and Local Individual Income Tax Collections Per Capita
The individual income tax is one of the most significant sources of revenue for state and local governments, generating approximately 24 percent of state and local tax collections in FY 2018.
2 min read
Effects of Proposed International Tax Changes on U.S. Multinationals
The international corporate tax changes in President Biden’s tax plan would increase tax rates on domestic income more than on foreign income, resulting in a net increase in profit shifting out of the US, according to our Multinational Tax Model.
33 min read
Providing Full Cost Recovery for Investment and Lowering Taxes on Firms Are Best Options for Boosting Growth
As policymakers consider tax options to boost the U.S. economy’s long-run economic growth, they should consider reforms that would increase growth the most while minimizing forgone tax revenue.
4 min read
Biden’s Proposed Capital Gains Tax Rate Would be Highest for Many in a Century
The Biden administration is proposing to tax long-term capital gains at ordinary income rates for high earners, which will bring the top federal rate to highs not seen since the 1920s.
2 min read
Excluding GILTI and Reducing the Corporate Tax Rate Would Improve Nebraska’s Economic Competitiveness
Excluding Global Intangible Low-Taxed Income (GILTI) from taxation and reducing the state’s top marginal corporate rate would improve the state’s economic competitiveness and are among the top income tax modernization priorities Nebraska policymakers ought to consider.
4 min read
Top Combined Capital Gains Tax Rates Would Average 48 Percent Under Biden’s Tax Plan
The top federal rate on capital gains would be 43.4 percent under Biden’s tax plan (when including the net investment income tax). Rates would be even higher in many U.S. states due to state and local capital gains taxes, leading to a combined average rate of over 48 percent compared to about 29 percent under current law.
3 min read