The Maryland Tax Court has struck down the state’s digital advertising tax and ordered that refunds be paid to taxpayers for five and a half years’ worth of collections under the unconstitutional tax.
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In June, the Dominican Republic rushed through a package of tax legislation in seven days. International examples demonstrate that consultation, transparency, and clarity are key factors for successful tax reform.
5 min read
As the market share of electric vehicles (EVs) on the road grows, the gas tax’s ability to fund road projects and decrease traffic congestion erodes. Both federal and state real tax revenue per vehicle mile traveled has been on a steady decline for decades, creating a fiscal gap for road expenditures even as the demand for road infrastructure improvements has grown.
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US policymakers have put forward two new tax proposals to address concerns about how artificial intelligence (AI) will impact land, energy, and the workforce.
7 min read
If Canada doesn’t make these provisions permanent, it will drop to 12th place in the capital cost recovery ranking once provisions expire in 2034.
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Poland taxes its individual business owners through alternative regimes and a series of thresholds, several of them sharp notches that imply significant tax costs for businesses crossing them.
11 min read
The California Billionaire Tax Act (Proposition 40), which imposes a one-time 5 percent tax on billionaires’ net worth, is vulnerable to numerous constitutional challenges, any of which could invalidate the tax in whole or in part.
28 min read
Some taxes have more powerful economic effects than others, and that’s a lesson policymakers should absorb as they work to craft a tax code that encourages growth and raises sustainable revenue.
8 min read
Though they are often framed as affecting only the richest households, the economic effects of wealth taxes extend much further by reducing capital formation, discouraging entrepreneurship, curtailing wage and employment growth, and ultimately weakening the overall economy.
Wealth taxes not only collect little revenue and create legal uncertainty, but an OECD report argues that they can also disincentivize entrepreneurship, harming innovation and long-term growth.
5 min read