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state sports betting tax legislation sports betting legislation state trends

States Continue to Bet on Sports

With many state legislative sessions wrapping up for this year, and a new fiscal year about to begin, it’s a good time to examine some of the 2021 legislative trends—and sports betting taxes are among the more prominent.

4 min read
2021 distilled spirits taxes, compare 2021 state distilled spirits taxes (2021 state liquor taxes and tax rates)

Distilled Spirits Taxes by State, 2021

Of all alcoholic beverages subject to taxation, stiff drinks—and all distilled spirits—face the stiffest tax rates. Like many excise taxes, the treatment of distilled spirits varies widely across the states.

3 min read
Tracking the 2021 Biden Tax Plan

Tracking the 2021 Biden Tax Plan and Federal Tax Proposals

Taxes are once again at the forefront of the public policy debate as legislators grapple with how to fund new infrastructure spending, among other priorities. Our tax tracker helps you stay up-to-date as new tax plans emerge from the Biden administration and Congress.

1 min read
expensing infrastructure Who bears the burden of corporate taxes? Learn more about who bears the burden of the corporate income tax (who actually pays corporate taxes) and the corporate tax burden

Expensing Is Infrastructure, Too

The Biden administration has suggested several tax increases for his infrastructure plan. Public infrastructure can help increase economic growth, but by raising taxes on private investment, the net effect on growth may be negative. However, tax options like retaining expensing for private R&D investment or making 100 percent bonus depreciation for equipment permanent would be complementary to the goals of infrastructure spending.

5 min read
DC tax hike, DC income tax DC flavored tobacco ban

Banning Tobacco Flavors Could Prove Costly for D.C.

Early signs indicate that flavors bans will not decrease tobacco consumption. It is not in the interest of the District of Columbia to pursue a public health measure that merely sends tax revenue to its neighboring jurisdictions without improving public health.

3 min read
Louisiana tax reform proposals Louisiana individual income tax reform Louisiana corporate income tax reform

Louisiana Fiscal Session Finishes Strong with Tax Reform

It took until the last day of the session, but Louisiana lawmakers succeeded in passing a tax reform package Thursday that would simplify a complicated tax code and make the state more economically competitive.

4 min read
Federal highway fund taxes federal infrastructure funding for highways federal excise tax on heavy commercial vehicles

Infrastructure Funding for Highways Digs into Issues of Outdated Taxes and Narrow Bases

As spending priorities are dividing lawmakers trying to negotiate among the various federal infrastructure plans, less time is being spent on the funding of one of the key components—our highways, both current and future taxes and fees. One of the current taxes, a federal excise tax on heavy commercial vehicles and trailers, is an important revenue generator, but its flawed tax design has a negative impact on investment and leads to unstable revenue.

4 min read
Wisconsin budget surplus Wisconsin budget tax proposals Wisconsin property tax system, Wisconsin State Assembly, Wisconsin Committee on Community Development

Wisconsin’s Surplus Presents Opportunity for Down Payment on Future Economic Growth

As Wisconsin emerges from the pandemic, state policymakers have a rare opportunity to reinvest excess revenues in a structurally sound manner that will make the state more attractive to individuals and businesses, promote a quicker and more robust economic recovery, and put the state on the path to increased in-state investment and growth for many years to come.

7 min read
Inflation Reduction Act book minimum tax Inflation Reduction Act accelerated depreciation change in corporate tax liablities, book tax, or corporate minimum tax congressional budget office cbo Eliminating the alternative minimum tax eliminating the AMT inflation indexing, inflation adjusting state tax codes, traditional CPI, index brackets for inflation, index for inflation

A Closer Look at Eliminating the AMT

In our new Options for Reforming America’s Tax Code 2.0, there are several options that would simplify the tax code, including eliminating the alternative minimum tax (AMT). While this move would remove a source of complexity, policymakers should also consider reforming the deductions that created a justification for the AMT in the first place.

3 min read
Business tax hikes Some Corporations Pay Zero Federal Income Taxes—and That Is Not a Problem Democrats child tax credit plan. tax administration issues, tax complexity cares act. trump tax cuts who benefited taxpayer subsidies for drug ads

Explaining the GAAP between Book and Taxable Income

A recent study identifies dozens of large companies that paid no income taxes in 2020. While such studies get headlines and may seem shocking, the reality is much more mundane.

5 min read
Ohio gross receipts tax Ohio commercial activity tax Ohio CATOhio budget tax proposals, including Ohio income tax reform and Ohio income tax cuts

Ohio Lawmakers Ponder Tax Relief after Rosy Revenue Outlook

Ohio is one of a growing number of states which experienced revenue increases despite the economic slowdown from the coronavirus pandemic and is now looking to return some of that through tax relief.

5 min read
2021 Carbon Taxes in Europe Which European Countries have a carbon European Countries have a carbon tax Sweden

Carbon Taxes in Europe, 2021

In recent years, several countries have taken measures to reduce carbon emissions, including instituting environmental regulations, emissions trading systems (ETS), and carbon taxes.

2 min read