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Business Tax Expenditures, Credits, and Deductions

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US international tax global tax 2

The Future of BEAT

Even when international relations are frayed, there is value in finding ways to combat corporate profit shifting while also fostering a healthy commercial atmosphere and positive trade relations.

7 min read
US Bonus Depreciation: US Tax Policy OECD Countries Should Copy

One US Tax Policy OECD Countries Should Copy

Rather than adopt temporary policies that phase out and expire, policymakers should focus their efforts on long-term reforms to support investment.

7 min read
OBBBA business expensing state tax codes 2025 One Big Beautiful Bill Business Expensing State Tax Conformity Questions

The OBBBA Gets Expensing Right. States Should Follow Suit.

However states choose to respond to other tax provisions of the One Big Beautiful Bill Act, they should conform to the pro-growth provisions, which represent a marked improvement in the corporate tax code.

12 min read
The Economic and Distributional Impact of the Trump Administration’s Tariff Actions Economic Impact of Tariffs, trade tensions, trade, Trump china tariffs, trade tensions

Trump’s Next Task Is Turning ‘Beautiful Bill’ Into Economic Boon

The administration has a strong desire to boost manufacturing investment and there are many provisions in the new tax bill that support this aim. But the administration’s erratic trade policy is driving up the costs of key inputs that manufacturers rely on to build things in the US.

Whats in the big beautiful bill details and who benefits

The One Big Beautiful Bill Is Law—Now What?

The One Big Beautiful Bill is now law—but what does it actually do? In this episode, we break down the new tax law’s key provisions, including who benefits, who doesn’t, and what it means for the economy, tax certainty, and the federal deficit. 

One Big Beautiful Bill Pros Cons

The Good, the Bad, and the Ugly in the One Big Beautiful Bill Act

The One Big Beautiful Bill Act makes many of the individual tax cuts and reforms of the TCJA permanent. It improves upon the TCJA by making expensing for R&D and equipment permanent. However, for the most part, it does not include further structural reforms, and instead introduces many new, narrow tax breaks to the code, adding complexity and raising revenue costs.

7 min read
State Implications of the GILTI to NCTI Conversion The One, Big, Beautiful Bill’s (OBBB) changes to the taxation of international income

State Implications of the GILTI to NCTI Conversion

The One Big Beautiful Bill’s changes to the taxation of international income have surprising implications for state codes, yielding tax increases and a revised tax base that, through quirks of state incorporation, bears very little resemblance to the federal base and almost nothing of its purpose.

10 min read
qbai exemption, one big beautiful bill, fdii and gilti

A Partial Defense of the QBAI Exclusion

Lawmakers should consider maintaining QBAI and applying the several billion dollars from the Senate’s change toward other pro-growth international tax reforms instead.

6 min read
whats in the big beautiful bill tax plan

The One Big Beautiful Tax Bill: What’s In It, What’s Out

Congress is racing to pass the One Big Beautiful Tax Bill before the July 4 deadline. In this episode, Kyle Hulehan and Erica York break down what just happened over the weekend, what’s actually in the bill, and what comes next as the House and Senate try to reconcile their differences.

2025 State Tax Changes Taking Effect July 1 | Tax Foundation 2025 state tax changes in my state

State Tax Changes Taking Effect July 1, 2025

Summer has arrived, and states are beginning to implement policy changes that were enacted during this year’s legislative session (or that have delayed effective dates or are being phased in over time).

28 min read

Tax Subsidies for R&D Expenditures in Europe, 2025

Many countries incentivize business investment in research and development (R&D), intending to foster innovation. A common approach is to provide direct government funding for R&D activity. However, a significant number of jurisdictions also offer R&D tax incentives.

4 min read