State Tax Changes Taking Effect July 1, 2024
Summer has arrived and states are beginning to implement policy changes that were enacted during the legislative session (or are being phased in over time).
13 min readSummer has arrived and states are beginning to implement policy changes that were enacted during the legislative session (or are being phased in over time).
13 min readDifferent layers of taxation on production and distribution combine to make up about 40 percent of the retail price of beer.
3 min readNewer products like spirits-based hard seltzers and ready-to-drink cocktails have fueled growth, while also blurring the lines of a categorical tax system. The result has been a spirited competition throughout the alcohol industry for market share, including calls to reform tax policy.
3 min readFacts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min readA tax based on alcohol content would be the most neutral, straightforward means of raising revenue from alcohol. But since such a tax would constitute a redesign of the entire alcohol tax system at both the state and federal levels, the next best approach is to create more categories for new products.
4 min readAn alcohol by volume (ABV) tax could replace the existing alcohol tax system. An ABV tax would make alcohol taxes simpler, more transparent, and substantially more neutral than the current system.
18 min readAs Oktoberfest celebrations kick off around the world, let’s look at how much tax European Union (EU) countries add to the world’s favorite alcoholic beverage.
2 min readTaxes are the single most expensive ingredient in beer, costing more than the labor and raw materials combined.
3 min readOf all alcoholic beverages subject to taxation, stiff drinks—and all distilled spirits—face the stiffest tax rates. Like many excise taxes, the treatment of distilled spirits varies widely across the states.
4 min readThe tax base around the world is shrinking for traditional excise taxes, including taxes on tobacco, alcohol, and motor fuel. But newer excise taxes on things like carbon, cannabis, and ride-sharing are on the rise. What makes a good design for these taxes and where may excise taxes go in the future as the traditional “sin tax” base continues to shrink?
When designed well, excise taxes discourage the consumption of products that create external harm and generate revenue for funding services that ameliorate social costs. The effectiveness of excise tax policy depends on the appropriate selection of the tax base and tax rate, as well as the efficient use of revenues.
83 min readYounger and healthier Brits have created a $17.1 billion budget hole by smoking and drinking less. Yet, despite this resounding piece of positive news, some see any decline in tax revenues as a public finance crisis. Excise taxes target a tax base that is intended to shrink. Less consumption is a stated goal of the policy.
3 min readFacts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min readTennessee, Alaska, Hawaii, and Kentucky levy the highest beer excise tax rates in the nation. How does your state compare?
3 min readThe 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 readIn dollar terms, the industries that would account for the largest book minimum tax liabilities are manufacturing, at $73.2 billion, followed by finance, insurance, and management at $46.9 billion.
6 min read’Tis the season to crack open a cold one. Ahead of International Beer Day on August 5th, let’s take a minute to discover how much of your cash is actually going toward the cost of a brew with this week’s tax map, which explores excise duties on beer.
3 min readFacts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min readThe highest excise duties are applied in Finland, Sweden, and Ireland, where the rates for a standard-size bottle of liquor are €14.10 ($16.08), €13.80 ($15.73), and €11.92 ($13.59), respectively.
3 min read