New Jersey Waives Telework Nexus During COVID-19 Crisis
New Jersey is temporarily waiving corporate nexus arising from employees teleworking due to the COVID-19 pandemic—a response to the crisis that other states should follow.
3 min read
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Working from Home Brings Greater Exposure to State Tax Codes
During the present crisis, remote work has become a necessity for many people. The tax implications, however, are very real and potentially quite complex.
7 min read
Tracking Economic Relief Plans Around the World during the Coronavirus Outbreak
Countries around the world are implementing emergency tax measures to support their economies under the coronavirus (COVID-19) threat.
51 min read
Tax Policy and Economic Downturns
The Great Recession provides some insight into how tax revenues declined during a deep recession. Across OECD countries, revenues fell by 11 percent from 2008 to 2009 with corporate income taxes seeing the steepest decline at 28 percent. Revenues from individual income taxes fell by 16 percent.
4 min read
Income Taxes Are More Volatile Than Sales Taxes During an Economic Contraction
In the short term, states must anticipate reduced tax collections as the economy slows. And here, not all taxes are created equal. As a general rule, income taxes are more volatile than consumption taxes.
4 min read
Comparison of Cross-Border Effective Average Tax Rates in Europe and G7 Countries
As policymakers consider ways to facilitate investment, effective average tax rates provide a valuable perspective on where burdens on those activities are high and where they are low.
16 min read
Sources of Government Revenue in the OECD, 2020 Update
OECD countries have on average become more reliant on consumption taxes and less reliant on individual income taxes. These policy changes matter, considering that consumption-based taxes raise revenue with less economic damage and distortionary effects than taxes on income.
13 min read
Analysis of Democratic Presidential Candidates Corporate Income Tax Proposals
2020 Democratic presidential candidates have proposed various changes to the corporate income tax, which includes increasing the rate, ranging from 25 percent to 35 percent, imposing a corporate surtax or a minimum tax, and lengthening depreciation schedules.
17 min read
The White House Budget Highlights the Need to Extend Pro-Growth TCJA Business Tax Provisions
Full expensing, if made permanent, would be one of the most cost-effective ways to increase growth as it would produce about 4.5 times more GDP growth per dollar of revenue than making the law’s individual tax provisions permanent, according to our analysis.
3 min read
State Corporate Income Tax Rates and Brackets, 2020
Forty-four states currently levy a corporate income tax. Rates range from 2.5 percent in North Carolina to 12 percent in Iowa. Over the past year, several states, including Florida, Georgia, Indiana, Mississippi, Missouri, and New Jersey, implemented notable corporate income tax changes.
7 min read