The Future of Arkansas Tax Reform: Next Steps on the Road Map to Competitiveness
Responsible pro-growth reforms to Arkansas’s tax code can help ensure that the Natural State is indeed a Land of Opportunity.
9 min readResponsible pro-growth reforms to Arkansas’s tax code can help ensure that the Natural State is indeed a Land of Opportunity.
9 min readAt least 32 notable tax policy changes recently took effect across 18 states, including alterations to income taxes, payroll taxes, sales and use taxes, property taxes, and excise taxes. See if your state tax code changed.
15 min readAs fiscal year 2023 draws to a close, North Carolina’s House and Senate have each passed their own versions of the biennial budget for fiscal years 2024-25. While legislative leaders have generally agreed to overall spending levels, negotiations remain ongoing to resolve different approaches to tax policy.
7 min readIn the closing days of the 2023 legislative session, Oklahoma lawmakers repealed the state’s corporate franchise tax and eliminated the marriage penalty in its individual income tax. Both tax changes represent a positive step forward for the state.
4 min readStates are in a better position to attract business investment when they maintain competitive real property tax rates and avoid harmful taxes on tangible personal property, intangible property, wealth, and asset transfers.
3 min readLegislation currently advancing in Louisiana—related to the franchise tax, inventory tax, and corporate rebate and exemption programs—would make the state’s tax code simpler and more competitive.
4 min readA recently enacted bill in Mississippi made the Magnolia State only the second state in the country to make full expensing permanent. The bill joins reductions to the individual income tax and capital stock tax rates, already in progress, as model, pro-growth reforms for the region.
5 min readStates can better position themselves for success by moving away from economically-damaging taxes like the capital stock tax.
3 min readThe changes put forth in a new package of bills would represent significant pro-growth change for Oklahoma that would set the state up for success in an increasingly competitive tax landscape.
7 min readThe proposed reforms would be welcome changes to the Commonwealth’s tax code, but the economic principles behind the reforms also have important implications for the Bay State’s income tax system writ large.
6 min readMost of the 2023 state tax changes represent net tax reductions, the result of an unprecedented wave of rate reductions and other tax cuts in the past two years as states respond to burgeoning revenues, greater tax competition in an era of enhanced mobility, and the impact of high inflation on residents.
20 min readPolicymakers from both parties in Harrisburg have proposed reducing Pennsylvania’s 9.99 percent corporate net income tax (CNIT) rate but could not agree on an approach—until now. With the enactment of HB 1342 lawmakers finally succeeded in cutting what had been the second highest state corporate tax rate in the nation.
7 min readIf Sooner State policymakers want to use a portion of their higher revenues to make the economy work better for all Oklahomans, they should consider repealing the franchise tax, trimming the income tax, or both—paired, if desired, with targeted aid to those in the greatest need—not writing a single round of gimmicky checks.
5 min readStates can better position themselves for success by moving away from economically-damaging taxes like the capital stock tax.
3 min readWhile Tennessee now boasts no individual income tax, there is still more work to be done for businesses—Tennessee is in a good position to get the job done.
7 min readOur new study identifies a number of deficiencies in Oklahoma’s tax code and outlines possible solutions for reform that would create a more neutral tax code and encourage long-term growth in the state.
6 min readPassage of Louisiana Amendments 1 and 2, which are aimed at the sales tax and individual and corporate income taxes, respectively, would substantially simplify the Pelican State’s tax code and provide tax relief in both the short and long term.
8 min readTaken together, the proposed reforms would further solidify North Carolina’s position as a leader in sound tax policy and as a state whose tax code is among the most conducive to generating long-term economic growth.
7 min read