As Idaho attempts to further solidify its position as a growth-oriented, taxpayer-friendly state this special session, other states should look to its example and pursue similar reforms.
6 min read
Every change to a state’s tax system makes its business tax climate more or less competitive compared to other states and makes the state more or less attractive to business.
7 min read
The Inflation Reduction Act includes a book minimum tax, which is raising the eyebrows of accountants everywhere. Scott Dyreng, a professor of accounting at Duke University, and Daniel Bunn join Jesse to discuss how these minimum taxes work and how companies aim to comply with all these new complex rules and tax increases.
As Missouri legislators head into a special session, they should consider making a pro-growth change that the state is already so close to achieving: creating a flat income tax.
4 min read
Tennessee, Alaska, Hawaii, and Kentucky levy the highest beer excise tax rates in the nation. How does your state compare?
3 min read
The phaseout of 100 percent bonus depreciation, scheduled to take place after the end of 2022, will increase the after-tax cost of investment in the U.S. Permanently extending it would increase long-run economic output by 0.4 percent and increase employment by 73,000 FTE jobs.
20 min read
The Inflation Reduction Act focused more on enforcement and hiring more auditors rather than programs that make it easier for taxpayers to comply with the code and the IRS to administer it.
6 min read
The mix of tax sources states choose can have important implications for both revenue stability and economic growth, and the many variations across states are indicative of the different ways states weigh competing policy goals.
29 min read
In a pattern that has become all too common in recent decades, the newly enacted Inflation Reduction Act (IRA) added yet another layer of complexity to an already complex and burdensome federal tax code.
9 min read
In response to high oil prices, Sen. Wyden has proposed raising taxes on oil and gas companies in three ways. His “Taxing Big Oil Profiteers Act” would create an additional 21 percent tax on so-called excess profits earned over 10 percent of revenues of oil companies with annual revenues over $1 billion; levy a tax on stock buybacks; and remove last-in, first-out (LIFO) tax treatment of inventory accounting.
7 min read