Business Taxes

Corporate Income Tax Rates in Europe, 2022

Portugal, Germany and France have the highest corporate tax rates in Europe. How does your country compare?

10 Tax Reforms for Growth and Opportunity

By reducing the tax code’s current barriers to investment and saving and simplifying its complex rules, lawmakers would greatly enhance the ability of Americans to pursue new ideas, create more opportunities, and build financial security for themselves and their families.

Proposal to Rid Ohio of Gross Receipt Taxes

A group of lawmakers in Ohio have proposed to repeal the state’s gross receipt tax (GRT), also known as the commercial activity tax (CAT).

Sources of U.S. Tax Revenue by Tax Type, 2022 Update

Compared to other industrialized countries, the United States relies more on individual income taxes and property taxes and less on consumption taxes.

Sources of Government Revenue in the OECD, 2022 Update

Designing tax policy in a way that sustainably finances government activities while minimizing distortions is important for supporting a productive economy.

Large Spread in Tax Treatment of Sports Betting Operators

Since 2018, 30 states and the District and Columbia have legalized and imposed taxes on sports betting. States that have yet to legalize, but which may do so, should pay attention to the impact of tax design in states that already have legal and taxed sports betting—specifically tax base design.

Massachusetts Should Reject Gross Receipts Taxes

Not only is the tax inequitable and inefficient, it also could be what drives businesses and remote workers into another state.

Rate Reductions Would Put Michigan in Top 10

Amid record surpluses, Michigan lawmakers are looking to give relief to taxpayers and enhance the state’s competitive standing.

States on the Move: Cutting Across Party Lines

After a whirlwind of cuts and reforms in 2021, it looks like 2022 might be an even bigger year for state tax codes. Republican and Democratic governors alike used their annual State of the State addresses to call for tax reform, and there is already serious momentum from state lawmakers nationwide to get the job done. We discuss why states are looking to make so many tax changes now and how these proposals might play out in statehouses.

Capital Stock Tax (Franchise Tax)

Indonesia Reform Simplifies Tobacco Taxes but More Work Remains

More than 300 billion cigarettes are sold each year in Indonesia—making it the world’s second-largest cigarette market to China. As such, it is important how Indonesia taxes tobacco products.

Business Tax Refunds Must Be Provided Quickly During Future Downturns

A new report finds many businesses have yet to receive tax refunds that they are due from pandemic-related emergency relief. Future business tax relief must be provided in a timely manner during the next downturn, because delayed tax relief is not much better than no relief at all.

Does Your State Levy a Capital Stock Tax?

States can better position themselves for success by moving away from economically-damaging taxes like the capital stock tax.

OECD Pillar One

OECD Pillar Two (Global Minimum Tax)

U.S. Tax Incentives Could be Caught in the Global Minimum Tax Crossfire

The current prospect for the global minimum tax requires the attention of U.S. lawmakers. Otherwise, a tax benefit at home will just mean a tax increase abroad.

States Should Act Fast on UC Trust Fund Deposits, and Other Takeaways from the New Treasury Guidance on ARPA Funding

States will continue to cut taxes because revenues are skyrocketing. But some will also be keeping a close eye on litigation targeting this dubious restriction on states’ fiscal autonomy.

Tennessee Should Build on Success and Improve Corporate Taxes

While Tennessee now boasts no individual income tax, there is still more work to be done for businesses—Tennessee is in a good position to get the job done.

VAT Rates in Europe, 2022

The VAT is a consumption tax assessed on the value added in each production stage of a good or service. Every business along the value chain receives a tax credit for the VAT already paid. The end consumer does not, making it a tax on final consumption.

Mississippi Nears Income Tax Repeal but Additional Work Is Necessary

Before declaring victory, it is imperative to get the details right. The latest proposal is a drastic improvement over the last one, but there is still more work to be done if the Magnolia State is to sustain the intended transformation.