Will Illinois Double Down on High Taxes?
Amending the Illinois constitution and adopting a graduated-rate income tax cannot solve the state’s fundamental problems. Instead, it doubles down on an already uncompetitive tax code.
16 min readAmending the Illinois constitution and adopting a graduated-rate income tax cannot solve the state’s fundamental problems. Instead, it doubles down on an already uncompetitive tax code.
16 min readSenator Hass’s proposal to limit the special pass-through deduction in Oregon is the right choice, protecting the state’s budget, while advancing sound tax policy.
3 min readThe Tax Cuts and Jobs Act tax preference for farm co-ops would distort agricultural activity and create tax planning opportunities for wealthy taxpayers.
9 min readOregon’s Legislative Revenue Office anticipates a $40 million revenue loss in fiscal year 2019, for one simple reason: absent legislative action to the contrary, Oregon will adopt the new pass-through deduction, while most other states will not.
3 min readFor policymakers in most states, the fact that the pass-through deduction doesn’t affect AGI should come as a relief. For those in the six states which use federal taxable income as their starting point for conformity, decoupling from the provision is an entirely viable option.
2 min readA more careful look shows that the Senate Tax Cuts and Jobs Act doesn’t put pass-through businesses at a disadvantage compared to C corporations.
4 min readThe Chairman’s Mark of the Senate’s Tax Cuts and Jobs Act includes a number of important changes. Here’s a quick overview of those that matter most.
3 min readThe Senate Tax Cuts and Jobs Act includes hundreds of structural reforms to the tax code. Here is a guide to the eight most important changes.
5 min readEven with large changes, many in the pass-through community are arguing that small pass-throughs don’t benefit since most or all of their taxable income falls below the 25 percent maximum rate. While correct on the small point, advocates miss the greater tax reform picture. Small pass-through businesses would still benefit from a number of other changes.
2 min readThough admittedly complex, the pass-through anti-abuse rules in the Tax Cuts & Jobs Act represent a well-thought-out approach to dealing with this issue.
5 min readTax reform should aim to get the tax code out of the way of entrepreneurship by making it simpler, less burdensome, and eliminating its anti-growth biases.
16 min read