Comparing Europe’s Tax Systems: Corporate Taxes
A tax code that is competitive and neutral promotes sustainable economic growth and investment while raising sufficient revenue for government priorities.
3 min read
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How Many Sales Tax Jurisdictions Does Your State Have?
Following the Wayfair decision, states’ move to tax online sales has increased the importance of simplicity in sales tax systems, as sellers now have to deal with differing regulations in multiple states. There are over 11,000 standard sales tax jurisdictions in the United States in 2020
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Carbon Taxes in Europe, 2020
17 European countries have implemented a carbon tax, ranging from less than €1 per metric ton of carbon emissions in Ukraine and Poland to over €100 in Sweden.
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Congressional Budget Office Releases 2017 Data on Household Income and Tax Burdens
Contrary to the perceptions of some, new data indicate that (1) income earned after taxes and transfers has increased over the past several decades for all income groups; (2) the federal tax system is increasingly progressive; and (3) that system relies heavily on higher earners to raise revenue for government services and means-tested transfers.
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Throwback and Throwout Rules by State, 2020
State throwback and throwout rules may not be widely understood, but they have a notable impact on business location and investment decisions and reduce economic efficiency for the states which impose such rules.
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Recent Changes in Dividend Tax Rates in Europe
Over the last three years, eight European OECD countries have made changes to their dividend tax rates. Iceland, Norway, Slovenia, Switzerland, and Turkey increased their rates, each between roughly one and three percentage points. France, Greece, and Latvia cut their rates by 10 percentage points.
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Does Your State Have a Corporate Alternative Minimum Tax?
Five states currently collect corporate AMTs: California, Iowa, Kentucky, Minnesota, and New Hampshire. This is a significant drop from the eight states that levied AMTs in tax year 2017.
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Recent Changes in Top Personal Income Tax Rates in Europe
Ten European OECD countries recently changed their top personal income tax rates. Of the ten countries, six cut their top personal income tax rates while the other four raised their top rates.
4 min read
CBO Releases New Long-term Budget Outlook
The pandemic precipitated the steepest decline in economic output and employment in recent history, which is leading to a drop in tax revenue. At the same time, the federal response to the crisis is producing a large increase in spending. This combination will cause the federal budget deficit to spike.
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New Census Data Shows States Beat Revenue Expectations in FY 2020
State tax revenue collections were down 5.5 percent in FY 2020, driven by a dismal final quarter (April through June) as states began to feel the impact of the COVID-19 pandemic. While these early losses are certainly not desirable, they are manageable and far better than many feared.
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New European Commission Report: VAT Gap
Just as COVID-19 is putting pressure on other sources of revenue, the loss of VAT revenues resulting from the crisis will force governments to evaluate their VAT systems.
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Does Your State Have an Individual Alternative Minimum Tax (AMT)?
Under an individual AMT, many taxpayers are required to calculate their income tax liability under two different systems and pay the higher amount.
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Recent Changes in Statutory Corporate Income Tax Rates in Europe
Over the last two decades, corporate income tax rates have declined around the world. Our new map shows the most recent changes in corporate tax rates in European OECD countries, comparing how combined statutory corporate income tax rates have changed between 2017 and 2020.
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Does Your State Have a Marriage Penalty?
A marriage penalty exists when a state’s income brackets for married taxpayers filing jointly are less than double the bracket widths that apply to single filers.
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Tax Treaty Network of European Countries
Tax treaties usually provide mechanisms to eliminate double taxation and can provide certainty and stability for taxpayers and encourage foreign investment and trade. A broad network of tax treaties contributes to the competitiveness of an economy.
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Estate and Inheritance Taxes by State, 2020
In addition to the federal estate tax, with a top rate of 40 percent, some states levy an additional estate or inheritance tax.
3 min read
Thin-Cap Rules in Europe
To discourage a certain form of international debt shifting, many countries have implemented so-called thin-capitalization rules (thin-cap rules), which limit the amount of interest a multinational business can deduct for tax purposes.
4 min read
How High Are Property Taxes in Your State?
New Jersey has the highest effective rate on owner-occupied property at 2.21 percent, followed closely by Illinois (2.05 percent) and New Hampshire (2.03 percent).
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CFC Rules in Europe
To prevent businesses from minimizing their tax liability by taking advantage of cross-country differences in taxation, countries have implemented various anti-tax avoidance measures, one known as Controlled Foreign Corporation (CFC) rules.
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Property Taxes by County, 2020
The five counties with the highest median property tax payments are all located near New York City and have bills exceeding $10,000.
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