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.
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While other states are working to promote growth, Pennsylvania is headed in the opposite direction with a policy that dramatically overtaxes investment.
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Governor Justice’s proposal to roll back West Virginia’s tangible personal property tax, a tax on equipment and machinery, is an opportunity improve the state’s outmoded property tax structure.
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Federal tax reform gives states an opportunity to improve their own tax codes. This study surveys the federal provisions to which states conform, what each state can expect from federal tax changes, and what options are available to them.
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Tariffs on washing machines and solar cells, though designed to help U.S. manufacturing and protect consumers, will likely raise prices and distort markets.
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Legislation introduced in Washington State correctly diagnoses the problem with the state’s B&O tax, but the proposed remedy could use some work.
6 min read
For every 1 percentage point increase in a state’s corporate tax rate, employment in start-up firms declines 3.7 percent, according to a recent Federal Reserve study.
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There are many ways that states can compete with one another for residents, and tax rates and structures should certainly be part of the conversation for states looking to attract new residents.
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Though the focus has been on the Tax Cuts and Jobs Act, there are other federal changes that took place on January 1, 2018 which are also worth reviewing.
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The tax bill will boost investment and incomes in the United States, and make the country a better place to locate production and hiring. There will be a transitory rise in the trade deficit, but in the context of a stronger, faster-growing economy.
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With the Tax Cuts and Jobs Act, Congress took a historic step toward rewriting the U.S. tax code for the first time since 1986.
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Whether your state’s corporate income tax code conforms to the federal corporate income tax code matters a great deal for how the Tax Cuts and Jobs Act will impact revenue in your state.
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For policymakers in most states, the fact that the pass-through deduction doesn’t affect AGI should come as a relief. For those in the six states which use federal taxable income as their starting point for conformity, decoupling from the provision is an entirely viable option.
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