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Real Value of $100 by Metropolitan Area, 2020

California is home to 7 of the 10 most expensive metro areas in America. See what’s the real value of $100 in your metro area with our new purchasing power map.

4 min read
Does my state tax social security benefits? States that tax social security benefits
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Does Your State Tax Social Security Benefits?

The question, “Does my state tax Social Security benefits?” may be simple enough, but the answer includes a lot of nuance. Many states have unique and specific provisions regarding the taxation of Social Security benefits, which can be broken into a few broad categories.

3 min read
real property taxes in Europe, European property tax rankings, property tax collections as a percent of the private capital stock in 2019
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Europe

Real Property Taxes in Europe, 2020

High property taxes levied not only on land but also on buildings and structures can discourage investment because they disincentivise investing in infrastructure, which businesses would have to pay additional tax on. For this reason, it may also influence business location decisions away from places with high property tax.

3 min read
2020 state gas tax rates, 2020 state fuel excise taxes, 2020 state gas tax rates by state, 2020 gas taxes
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Gas Tax Rates by State, 2020

California pumps out the highest tax rate of 62.47 cents per gallon, followed by Pennsylvania (58.7 cpg), Illinois (52.01 cpg), and Washington (49.4 cpg).

2 min read
state sales tax holiday, tax-free weekend, sales tax holiday weekend
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Sales Tax Holidays by State, 2020

In the midst of the coronavirus crisis, some states are hoping that a sales tax holiday might help restart struggling industries by stimulating the economy. However, sales tax holidays can mislead consumers about savings and distract from genuine, permanent tax relief.

41 min read
EU cigarette tax rates, Cigarette taxes in the EU, Excise duties on Tobacco European Union
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Europe

Cigarette Taxes in Europe, 2020

Ireland and the United Kingdom levy the highest excise duties on cigarettes in the European Union (EU), at €8.00 ($8.95) and €6.83 ($7.64) per 20-cigarette pack, respectively. This compares to an EU average of €3.22 ($3.61). Bulgaria (€1.80 or $2.01) and Slovakia (€2.07 or $2.32) levy the lowest excise duties.

3 min read
tax exemption definition TaxEDU 2021 state tax changes. net operating loss policies in the OECD NOL omnibus covid-19 relief deal. phase 4 coronavirus relief, phase 4 business relief, phase 4 relief net operating loss, cost recovery
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Sources of Personal Income, Tax Year 2017

Reviewing the sources of personal income shows that the personal income tax is largely a tax on labor, primarily because our personal income is mostly derived from labor. However, varied sources of capital income also play a role in American incomes.

9 min read
2020 state tax rates and changes as of July 1, 2020, 2020 tax changes, 2020 state tax changes as of July 1, 2020
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State Tax Changes Effective July 1, 2020

Nineteen states had notable tax changes take effect on July 1, 2020. Pandemic-shortened sessions contributed to less—and different—activity on the tax front than is seen in most years, and will likely yield an unusually active summer and autumn, with many legislatures considering new measures during special sessions.

12 min read
estimated economic impact of improved cost recovery by state
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Estimated Impact of Improved Cost Recovery Treatment by State

We estimate that moving to permanent full expensing and neutral cost recovery for structures would add more than 1 million full-time equivalent jobs to the long-run economy and boost the long-run capital stock by $4.8 trillion.

4 min read