Business Taxes

New Study Shows United States Taxes Capital Income at Above-Average Rates

Sources of Personal Income, Tax Year 2015

Taxpayers reported $10.4 trillion of total income on their 2015 tax returns. This report breaks down the sources of this income: wages and salaries, business income, investment income, and retirement income.

California’s Corporate Income Tax Rate Could Rival the Federal Rate

Testimony: Oregon Should Conform to the Federal International Provisions under the Tax Cut and Jobs Act

Tax Reform Moving Quickly in Georgia

In response to federal tax reform, Georgia is poised to reform its own tax code in a way that would make the state more competitive with its neighbors.

Idaho Tax Reform Bill Advances

Oregon’s Chance to Limit a Flaw in the Federal Tax Code

Senator 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.

Banks Urge Congress to Review Credit Union Exemption

Billions of New Revenue for Georgia Leads to Tax Reform Discussion

Testimony: Idaho Should Consider Decoupling from the Pass-Through Deduction

Testimony: Volatility and Legality of the Capital Gains Tax Proposal in Washington

Iowa Governor Outlines Plan to Cut Rates and Repeal Federal Deductibility

Americans Consume Much More than They Invest

Recent data show that Americans stand out for consuming much more than they invest, and this is due in part to the tax code’s bias against savings.

The United States’ Corporate Income Tax Rate is Now More in Line with Those Levied by Other Major Nations

The Tax Cuts and Jobs Act significantly reduced the federal statutory corporate income tax rate. When combined with state and local taxes, it put the U.S.’s corporate tax rate in line with the average among OECD nations.

Budget Deal Would Retroactively Extend Several Expired Tax Provisions

The ‘Grain Glitch’ Needs to Be Fixed

The Tax Cuts and Jobs Act tax preference for farm co-ops would distort agricultural activity and create tax planning opportunities for wealthy taxpayers.

State Corporate Income Tax Rates and Brackets, 2018

State corporate income tax rates range from 3 percent in North Carolina to 12 percent in Iowa. Download and compare each state’s 2018 rates and brackets here.

Testimony: Oregon Should Consider Decoupling From the Pass-Through Deduction

Oregon’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.

The U.S.’s New Ranking on the International Tax Competitiveness Index

The TCJA is projected to improve the United States’ current ranking from 30th among the 35 Organisation for Economic Co-operation and Development (OECD) countries to 25th, an improvement of five places.

Pennsylvania’s New Penalties on Investment Could Scare off Amazon, Others

While other states are working to promote growth, Pennsylvania is headed in the opposite direction with a policy that dramatically overtaxes investment.