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State Income Tax Revenue from Unemployment Compensation SMART Act, state and local aid, state tax revenue collections beat state revenue expectations in FY 2020 coronavirus pandemic

State Income and Sales Tax Revenues Slide in Second Quarter

Today marked the release of second-quarter GDP data and provides a new glimpse into early changes in state and local revenues and spending. All told, second-quarter state and local tax receipts came in about 3.8 percent lower than they did in the same quarter a year ago. Income and sales taxes fell considerably while property and excise tax collections remained stable.

3 min read
2020 state gas tax rates, 2020 state fuel excise taxes, 2020 state gas tax rates by state, 2020 gas taxes

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
EU cigarette tax rates, Cigarette taxes in the EU, Excise duties on Tobacco European Union

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

Improved Cost Recovery Is A Wide-Ranging Policy Solution

Rather than limit improvements to certain sectors, lawmakers could pursue a broader policy of full expensing for all capital investment and neutral cost recovery for structures and clear the tax policy hurdles that currently stand in the way of private investment.

3 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

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
Pennsylvania legalize marijuana, Pennsylvania recreational marijuana tax, New Mexico legalize marijuana, New Mexico recreational marijuana tax, states taxing marijuana

Montana Voters Will Decide on Recreational Marijuana

Montana could vote to legalize and tax recreational marijuana in November, bringing in an estimated $39 million by 2025, but would the move help with short-term budget issues?

4 min read