Corporate Income Taxes

How Biden’s Tax Plans Could Negatively Impact Housing

While President Biden has many proposals aimed at increasing the supply of affordable housing, including tax credits, his plans to raise business taxes could hinder that goal.

Options for Reforming the Taxation of U.S. Multinationals

The Biden administration’s international tax proposals would impose a 7.7 percent surtax on the foreign profits of U.S. multinationals, resulting in a net increase in profit shifting out of the U.S.

Senator Warren’s Corporate Book Tax Is Wrong Way to Fund New Spending

The arguments for a new surtax on corporate book income misconstrues why there are differences between a corporation’s taxable income and book income.

Does Your State Have a Corporate Alternative Minimum Tax (AMT)?

Should the U.S. Copy Denmark’s Social Welfare Policies?

To fully follow the Scandinavian model would require additional taxes that place a higher burden on middle-income earners, but instead, Biden proposes higher taxes on corporations and households making more than $400,000.

Comparing Three Financing Options for President Biden’s Spending Proposals

While Congress continues to debate how to pay for President Biden’s spending proposals in the fiscal year 2022 budget, it is useful to consider the economic impact of a range of financing options in addition to the President’s proposed tax increases.

Corporate Tax Revenue Forecasted as Robust following the 2017 Tax Reform

In light of these forecasts, which could be revised upwards further given the pace of growth in the economy and corporate profits, it seems clear that the 2017 tax reform did not substantially reduce the revenue potential of the corporate tax.

Here’s How Louisiana’s Tax Plan Would Simplify the Tax Code and Benefit Residents

Louisiana legislators passed a tax reform plan that has received overwhelming support in both the House and Senate, but voters will get the ultimate say on whether that plan succeeds. In light of this, it may be valuable to walk through what is included in these reforms and what effect the changes will have on taxpayers.

How Did We Ever Agree to Fund Infrastructure Investments?

As lawmakers explore funding mechanisms for additional federal infrastructure investment, they should focus on permanent, sustainable, and transparent revenue options that conform to the benefit principle. Permanent user fees, appropriately adjusted to restore and maintain their purchasing power, would serve as ideal revenue sources for federal infrastructure investments.

Asian and Pacific Countries Faced Revenue Loss Prior to COVID-19 Outbreak

As economies are starting to recover and growth is expected to rebound in the region during 2021, Asian and Pacific countries should start exploring changes to their fiscal tax policies while carefully evaluating the optimal time for eliminating fiscal stimulus and temporary tax relief.

North Carolina Considers Corporate Income Tax Repeal and Individual Income Tax Relief

Taken together, the proposed reforms would further solidify North Carolina’s position as a leader in sound tax policy and as a state whose tax code is among the most conducive to generating long-term economic growth.

How Biden’s Business Tax Proposals Would Impact Taxpayers Across States

The Biden administration has targeted U.S. businesses, including corporations and passthrough entities, to raise revenue to fund new spending. However, individual taxpayers across America will end up footing the bill.

The State of State Income Taxes

On this episode of The Deduction, host Jesse Solis and Senior Policy Analyst Katherine Loughead explore how stronger-than-expected revenues and increased workplace flexibility have led to a wave of reforms aimed at enhancing tax competitiveness in states around the country.

Even Within States, Tax Treatment Differs by Industry

States can enhance tax neutrality across industries by reforming tax structures that penalize certain business activity, leaning less on generous incentives, and focusing more on creating a tax code that provides for low and competitive burdens for all comers.

Piling on the GILTI Verdicts

The Biden administration has proposed to significantly increase the tax burden on foreign income through a policy known as Global Intangible Low-Tax Income (GILTI). While the administration’s rhetoric focuses on doubling the tax rate on GILTI from 10.5 percent to 21 percent, this is less than half the story.

States Respond to Strong Fiscal Health with Income Tax Reforms

As states close their books for fiscal year 2021, many have much more revenue on hand than they anticipated last year. Eleven states have responded by reducing income tax rates and making related structural reforms as they strive to solidify a competitive advantage in an increasingly competitive national landscape.

Biden Plan’s Higher Taxation of Businesses Would Boost Collections to Highest in 40-Plus Years

President Biden’s tax proposals released as part of his fiscal year 2022 budget would collect about $2 trillion in new tax revenue from businesses over 10 years. This new revenue would bring income tax collections on businesses as a portion of GDP to its highest level on a sustained basis in over 40 years.

Property and Sales Taxes Are a Major Driver of Corporations’ State and Local Tax Burdens

As policymakers consider ways to improve their tax structure to encourage business investment and promote economic growth, corporate income tax rate reductions are a crucial part of that conversation, but they shouldn’t be the only consideration.

Biden’s Top Marginal Capital Gains Tax Rate Would Be Highest in OECD

President Biden’s proposal to tax capital gains at higher, ordinary income tax rates would lead the U.S. to have the highest top marginal tax rate on capital gains in the OECD.

Semiconducting Tax Policy

If you’ve read any headlines in the last few months, you’ve no doubt heard about the semiconductor shortage gripping global supply chain—and if you’ve tried to buy anything from a toaster to a car, you’ve witnessed it firsthand. But what’s really driving today’s crisis, can the U.S. manufacture its way out of it, and what role does tax and economic policy have to play in all this?