Despite taxes playing a significant role in personal finances and being levied on a sizable portion of the U.S. population, most Americans are not just unhappy with the current tax code but also do not understand it.
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Facts & 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.
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Focusing on competitiveness, neutrality, and efficient policies to raise revenue would go a long way in increasing economic growth and stabilizing public finances over the long term.
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Given that U.S. debt is roughly the size of our annual economic output, policymakers will face many tough fiscal choices in the coming years. The good news is there are policies that both support a larger economy and avoid adding to the debt.
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By violating the principles of simplicity, neutrality, and stability, and failing to raise significant revenue, worldwide combined reporting at the state level is doomed to fail.
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Designing tax policy in a way that sustainably finances government activities while minimizing distortions is important for supporting a productive economy.
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We’re examining the differences between the broad incentives provided by the Tax Cuts and Jobs Act and the targeted approach of the Inflation Reduction Act and the CHIPS and Science Act.
Though providing permanent R&D expensing alone would not be a China-competition magic bullet, it is a no-brainer place to start. In this technological race, we should first make sure we have not tied our own shoes together.
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Does your state have a small business exemption for machinery and equipment?
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As the world of tax policy becomes more interconnected, the Tax Foundation is stepping up, recognizing the pressing need for informed and principled tax policy education in an ever-evolving landscape.
Short FormWorking from home is great. The tax complications? Not so much.
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Sales taxes go beyond a few extra bucks at the register. It’s not just about what you pay, but who pays. What are the implications of state sales tax bases across the U.S.?
The U.S. House of Representatives has passed a highly anticipated bipartisan tax deal. The Tax Relief for American Workers and Families Act now awaits action in the Senate.
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Local income taxes in Maryland constitute about 35 percent of local tax collections and more than 17 percent of local revenue, giving Maryland’s localities the highest dependence on income taxes in the nation.
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Portugal’s value-added tax (VAT) policy is a treasure trove of tax oddities. Thankfully, VAT base broadening is an ideal instrument to give the Portuguese government the fiscal room to implement pro-growth tax reforms
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The Tax Cuts and Jobs Act of 2017 (TCJA) reformed the U.S. system for taxing international corporate income. Understanding the impact of TCJA’s international provisions thus far can help lawmakers consider how to approach international tax policy in the coming years.
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We’re exploring the intricacies of the latest congressional act stirring up Washington—The Tax Relief for American Families and Workers Act of 2024.
Credit unions’ privileged status as tax-exempt nonprofit organizations may have filled a market need during the Great Depression, but 90 years later, there is no longer a justification to subsidize these institutions.
After years of strong revenue growth, Kansas has substantial cash reserves on hand, and policymakers on both sides of the aisle have expressed a desire to return some of the extra revenue to taxpayers.
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As policymakers continue efforts to improve Kentucky’s tax structure and competitiveness, they should keep in mind that not all offsets are created equal.
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