In addition to its economic impact on Maryland businesses and the likelihood of serious legal challenges, Maryland’s proposed digital advertising tax is incredibly vague on vital definitions, creating uncertainty about where revenue is sourced and when it is subject to the tax.
17 min read
The potential override of Gov. Larry Hogan’s (R) veto of a digital advertising tax (HB732) looms large over the current legislative session in Maryland, though it is only one of many tax proposals under consideration in the state.
7 min read
House Ways and Means Democrats recently released a proposal to expand the child tax credit for one year as part of President Biden’s larger $1.9 trillion economic relief package.
5 min read
By failing to keep pace with modern consumption patterns, sales taxes have become less neutral, less equitable, and less economically efficient over time.
16 min read
Depending on your perspective, tariffs are either a great way to tax countries like China for their protectionist trade policies or they are a big reason why all those imported toys, clothing and holiday gifts cost more than you expected. You’ll learn what tariffs are, how they function, and how they can impact the domestic U.S. economy.
Sen. Mitt Romney (R-UT) recently proposed the Family Security Act, which features a new, more generous child allowance for families with children while reforming other sources of aid for low-income individuals.
5 min read
Two states—Florida and Missouri—have held back on online sales taxes thus far following the landmark 2018 Supreme Court case, South Dakota v. Wayfair. Now, lawmakers in both states have filed bills to address the issue this session.
4 min read
Improving trust fund solvency and staving off costly business tax increases is a win-win proposition for federal and state governments alike.
4 min read
Although this week’s Super Bowl festivities may be muted, states with legalized sports betting may have something to cheer: a tax revenue bump thanks to the accompanying excise taxes.
3 min read
This week, the Treasury Department added several new appointees as staffing continues following President Biden’s inauguration. Among them were three scholars of international tax policy: economist Kimberly Clausing and law professors Rebecca Kysar and Itai Grinberg. These three will be influential in developing the administration’s approach to changing U.S. tax rules for multinational corporations and negotiating international tax policy changes at the Organisation for Economic Co-operation and Development (OECD).
4 min read