Results of 2020 State and Local Tax Ballot Measures
See the results of the most notable state and local tax ballot measures during Election 2020 with our curated resource page.
11 min readSee the results of the most notable state and local tax ballot measures during Election 2020 with our curated resource page.
11 min readWhile other countries in Europe are working towards introducing tax cuts and stimulating economic recovery by supporting business investment and employment, Spain is putting more fiscal pressure on households and businesses.
4 min readIncreasing the corporate tax rate is often offered as a solution to income inequality because higher-income individuals tend to own more corporate shares than others and may bear the burden of a tax increase on corporate income.
4 min readZoom Video Communications announced that, come November, the company will start collecting and remitting local utility and communications taxes in California, New York, Maryland, and Virginia.
5 min readThe IRS recently released the new 2021 tax brackets and rates. Explore updated credits, deductions, and exemptions, including the standard deduction & personal exemption, Alternative Minimum Tax (AMT), Earned Income Tax Credit (EITC), Child Tax Credit (CTC), capital gains brackets, qualified business income deduction (199A), and the annual exclusion for gifts.
6 min readThey may not draw as much attention as elections for office, but Election Day 2020 will also feature a number of important votes on tax-related ballot initiatives in states around the country. What are the ballot measures taxpayers should be paying attention to this year and what could they mean for the future of state tax policy? Tax Foundation Vice President of State Projects Jared Walczak and Senior Policy Analyst Katherine Loughead break down measures ranging from recreational marijuana legalization in New Jersey and Montana to income tax increases in Illinois and Arizona.
Our new guide identifies key areas for improvement in UK tax policy and provides recommendations that would support long-term growth without putting a dent in government revenues.
24 min readIf we consider Biden’s tax plan over the entire budget window (2021 to 2030) as a percentage of GDP—1.30 percent—it would rank as the 6th largest tax increase since the 1940s and and one of the largest tax increases not associated with wartime funding.
6 min readWhat has President Joe Biden proposed in terms of tax policy changes? Our experts provide the details and analyze the potential economic, revenue, and distributional impacts.
23 min readThe UN tax committee will be considering a change to the UN’s model tax treaty that, if adopted and implemented, could result in digital companies paying more taxes in countries where their customers are located even if those companies do not have physical locations there.
5 min readA tax code that is competitive and neutral promotes sustainable economic growth and investment while raising sufficient revenue for government priorities.
3 min readThe difference that the OECD presents between the potential impact in the context of agreement compared to a harmful tax and trade war should show policymakers the value of continuing multilateral discussions.
6 min readPresident Joe Biden’s tax plan would yield combined top marginal state and local rates in excess of 60 percent in three states: California, Hawaii, and New Jersey (also New York City).
4 min readWhile the Biden campaign is certainly focused on increasing taxes on U.S. businesses and high-income earners, it is important that policymakers also understand what that reversal might do to U.S. competitiveness, and the competitive global environment in which U.S. companies and U.S. workers operate.
3 min readWhile there is still plenty of work to be done to get unemployed Americans back to work, the U.S. economy as a whole is now recovering strongly from the pandemic-induced economic downturn, outperforming forecasts from earlier in the year and outperforming most other developed countries.
4 min readHouse Republicans recently introduced HR 11, the Commitment to American GROWTH Act, outlining an alternative to Democratic presidential nominee Joe Biden’s tax vision. The proposal would address upcoming expirations of the 2017 Tax Cuts and Jobs Act (TCJA) and create or expand other tax provisions designed to boost domestic investment.
5 min readOur International Index compares OECD countries on over 40 variables that measure how well each country’s tax system promotes sustainable economic growth and investment.
13 min readThe OECD released blueprints for proposals on changing international tax rules alongside an impact assessment based on the overall design of the proposals. While the blueprints cover proposals both for changing where large multinationals owe corporate tax and designing a global minimum tax, there are still many unanswered questions. In the meantime, other digital tax proposals are moving forward and have the potential to result in a harmful tax and trade war.
4 min read