As many businesses may need time to return to profitability after this crisis, states should prioritize reducing reliance on capital stock taxes, and shift toward more neutral forms of business taxation.
4 min read
Permanent full expensing for all types of investment is an effective policy change lawmakers can use to encourage additional investment and economic growth.
9 min read
One of the most cost-effective policy changes would be to make full expensing of machinery and equipment permanent and extend this important tax treatment to structures as well as for firms in a net operating loss position.
7 min read
Virginia enacted a biennial budget, which includes a new excise tax on “skill games.” Meanwhile, Arizona and Connecticut announced plans to convene in special sessions later this year while Oklahoma gets the green light to use rainy day fund money to close budget gaps.
4 min read
Alaska and North Dakota collect revenue primarily from oil-related taxes. These states must start thinking about how to plan for an era of reduced oil revenue.
5 min read
As states look for a path out of these fiscally troubling times, Louisiana has several options for aspects of its tax code to promote economic recovery and growth. The Pelican State’s federal deductibility, Corporation Franchise Tax, and sales tax structure present opportunities for beneficial tax reform in the wake of the coronavirus crisis.
3 min read
What could the next phase of relief look like and what role does tax policy play in ensuring the U.S. and countries around the world make a strong economic recovery?
1 min read
The U.S. Department of the Treasury recently issued new guidance on allowable expenses using the $150 billion in state aid provided under the CARES Act, a point on which there has been considerable confusion.
3 min read
The sooner federal policymakers or regulators clarify tax questions about the Paycheck Protection Program (PPP), the more certainty firms will have when they accept the economic relief to keep their businesses afloat.
3 min read