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Testimony: Prioritizing Comprehensive Tax Modernization in Nebraska

The Nebraska legislature has an excellent opportunity to make progress toward a simpler, stabler, less burdensome, and more competitive tax code.

Can GILTI and the GloBE be Harmonized in a Biden Administration?

While there are several parts of the policy that are subject to further discussion and agreement, GloBE is expected to be different from GILTI in several ways.

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.

Tax Incentives for Digital Nomads and Remote Workers

Policy changes to attract foreigners are not without benefits, but governments should carefully weigh the costs of the tax incentives against opportunities to implement broader tax reforms. A more efficient income tax system is a better objective than just focusing on incentives for foreigners to change their tax residence.

Lawmakers Reintroduce Bill to Protect Against Double Taxation of Financial Transactions

With several states entertaining proposals to tax the financial transactions of savers and investors who don’t even live in their states, some members of Congress see an interstate commerce question worthy of a federal response.

State Aid in American Rescue Plan Act Is 116 Times States’ Revenue Losses

Here’s each state’s estimated revenue gains or losses in 2020, alongside the state and local aid that would be allocated to each under the American Rescue Plan Act.

An Investment Boost in the UK’s 2021 Budget

The UK’s Chancellor of the Exchequer Rishi Sunak released the 2021 budget, and most important for near-term growth is the significant boost to capital allowances.

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.

Webinar: Putting President Biden’s Corporate Tax Agenda in Context

Sen. Elizabeth Warren’s Wealth Tax Legislation Faces Administrative and Economic Challenges

The international experience with wealth taxes should serve as a warning to the U.S. A wealth tax would reduce the size of the economy, shrink national income, and significantly distort international capital flows.