Tax Trends at the Dawn of 2020
From remote sales tax collection to taxes on marijuana and vaping products, we recap the top state tax trends from 2019 and break down which ones you should watch for in 2020.
38 min read
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State Tax Changes as of January 1, 2020
This year was a significant one for state tax policy, and the wide range of changes taking effect January 1, 2020, reflects the scope and intensity of that activity. With states continuing to grapple with issues like the taxation of international income and collections obligations for remote sellers and marketplace facilitators, the coming year is unlikely to be any quieter.
23 min read
Illustrating Senator Warren’s Taxes on Capital Income
Taken together, these proposed tax changes would significantly raise marginal and effective tax rates and increase the cost of capital, all of which would lead to a reduced level of output and less revenue than anticipated.
5 min read
UK Taxes: Potential for Growth
3 min read
Booker’s Plan to Eliminate Step-up in Basis and Expand the Estate Tax
Removing step-up in basis would encourage taxpayers to realize capital gains and it would plug a hole in the current income tax, while increasing federal revenue. Combined, however, with the estate tax, this would result in a significant tax burden on certain saving by requiring both the appreciation in and total value of transferred property to be taxed at death
2 min read
Senator Van Hollen Introduces Proposal to Raise Taxes on High-Income Households
Van Hollen’s proposals add to the long list of Democratic Party tax proposals that attempt to both raise additional revenue from corporations and high-income households and make the tax code more progressive and “equitable.”
3 min read
The Composition of Federal Revenue Has Changed Over Time
The federal income tax and federal payroll tax make up a growing share of federal revenue. Individual income taxes have become a central pillar of the federal revenue system, now comprising nearly half of all revenue.
2 min read
Sanders’ Estate Tax Plan Won’t Likely Raise the Revenue Intended
While progressivity may look appealing—particularly at a time when policymakers in Congress seem to be competing on how best to extract revenue from the wealthiest in the country—it may not raise the revenue intended.
2 min read
New IRS Data Reiterates Shortcomings of the Estate Tax
The estate tax’s narrow base and high rate limit its ability to generate revenue. The estate tax discourages economic growth by discouraging investment.
3 min read
Enhancing Tax Competitiveness in Connecticut
Connecticut has failed to live up to the expectations of 1991. Changes intended to make tax collections more stable, combined with constraints intended to promote fiscal prudence, have strayed far wide of the mark. To turn things around, Connecticut needs a more competitive tax code.
32 min read
Trends in State Tax Policy, 2018
In 2018, trends to watch in state tax policy will include reductions in corporate tax rates, the spread of gross receipts taxes, new and lower taxes on marijuana, estate tax repeal, a wait-and-see approach on federal tax reform, and more.
16 min read