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Excise Taxes on New and Existing Markets

Tax Policy 101, Part 2: Sales, Property, and Other Taxes

Tax Policy 101, Part 1: Income and Unemployment Insurance Taxes

Summary of the Latest Federal Income Tax Data, 2021 Update

The latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.

State Corporate Income Tax Rates and Brackets, 2021

North Carolina’s 2.5 percent corporate tax rate is the lowest in the country, followed by Missouri (4 percent) and North Dakota (4.31 percent). Seven other states impose top rates at or below 5 percent: Florida (4.458 percent), Colorado (4.55 percent), Arizona (4.9 percent), Utah (4.95 percent), and Kentucky, Mississippi, and South Carolina (5 percent).

Modeling Different Proposals for Round Three Direct Payments

President Biden is calling for a third round of economic impact payments to households as part of his $1.9 trillion American Rescue Plan. Under the plan, the payments would be $1,400 per person, topping off the recent round of $600 payments for a combined $2,000 per person. Senate Republicans have proposed payment amounts of $1,000 per individual and $500 per dependent, lower income thresholds, and faster phaseout rates.

Thirteen Priorities for Pro-Growth Tax Modernization in Nebraska

We identify 13 of the highest tax reform priorities Nebraska policymakers should consider in their effort to create a more growth-friendly tax code. We also offer a sample comprehensive tax reform plan to show one way policymakers could begin tackling these objectives over the next couple legislative sessions, with further progress to be made in the years ahead.

Washington State Lawmakers Considering New Bans and Higher Taxes on Nicotine Products

Washington state lawmakers have proposed a bill that would make it the second state to ban all flavored tobacco and the first to impose a nicotine cap on vapor products, and would increase taxes on vapor to among the highest in the nation.

Value-added Taxes in the Pandemic

Many governments have chosen to use VAT as a tool to provide tax relief for consumption in various sectors throughout the pandemic, but in the long term, VAT should not be used as a tool for relief.

Wisconsin’s PPP Loan Recipients Face Hundreds of Millions in Surprise Taxes

Unless the legislature acts, businesses that have received PPP loans and related federal assistance will face $457 million in state taxes through 2024—with more than half of those taxes coming due this spring—despite Wisconsin being on track to see continued general fund revenue growth even amid the pandemic.