All Related Articles
Gross Receipts Taxes by State, 2020
While it’s unclear how soon state economies may be able to fully open again, it’s not too early for states to consider how they can remove barriers to businesses & consumers resuming activity.
3 min read
The Three Basic Tax Types
Discover the three basic tax types—taxes on what you earn, taxes on what you buy, and taxes on what you own. Learn about 12 specific taxes, four within each main category. Develop a basic understanding of how these taxes fit together, how they impact government revenues and the economy, and where you may encounter them in your daily life.
Not All Taxes Are Created Equal
Discover why there are better and worse ways for governments to raise a dollar of revenue. Compare the economic impact of the three basic tax types—taxes on what you earn, buy, and own—including three specific taxes within each category. Learn about the basics of “dynamic scoring,” one tool economists can use to compare the economic and revenue impact of different tax policies.
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
Results of 2019 State and Local Tax Ballot Initiatives
Election Day 2019 will feature notable tax-related ballot measures in California, Colorado, New Mexico, Pennsylvania, Texas, and Washington. Once the polls close tonight, beginning with Pennsylvania and Texas at 8 PM EST, we will begin tracking the results as they come in.
4 min read
State Corporate Income Taxes Increase Tax Burden on Corporate Profits
The Tax Cuts and Jobs Act (TCJA) reduced the U.S. federal corporate income tax rate from 35 percent to 21 percent. However, most U.S. states also tax corporate income. These state-level taxes mean the average statutory corporate income tax rate in the U.S., which combines the average of state corporate income tax rates with the federal corporate income tax rate, is 25.8 percent in 2019.
2 min read
