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Massachusetts Flavored Tobacco Ban Causes Cigarette Sales’ Increase in Neighboring States Tax Stamps Sales in June-September 2020 versus June-September 2019. Massachusetts flavored tobacco ban and its impact on Massachusetts tax revenue

Massachusetts Flavored Tobacco Ban Has Severe Impact on Tax Revenue

The Massachusetts flavored tobacco ban highlights the complications of contradictory tax and regulatory policy, the instability of excise taxes that go beyond pricing in the cost of externalities, and the public risks of driving consumers into the black market through excessive taxation or regulation.

5 min read
How much does your state rely on property taxes? Compare 2021 state property taxes and 2021 property taxes by state. State property tax reliance map. Revenue through property taxes

To What Extent Does Your State Rely on Property Taxes?

New Hampshire and Alaska rely most heavily on property taxes. Neither have individual income taxes, and in New Hampshire, significant government authority often vested in state government is devolved to the local level, where services are overwhelmingly funded by property taxes.

4 min read
Where did Americans move in 2020? 2020 state migration data, 2020 moving study, state-by-state migration trends, state migration trends, state migration data

Where Did Americans Move in 2020?

States compete with each other in a variety of ways, including in attracting (and retaining) residents. Sustained periods of inbound migration lead to (and reflect) greater economic output and growth. Prolonged periods of net outbound migration, however, can strain state coffers, contributing to revenue declines as economic activity and tax revenue follow individuals out of state.

4 min read
Schumer marijuana bill recreational marijuana tax revenue by state

Several States Considering Legal Recreational Marijuana

With most states experiencing reduced tax revenues due to the coronavirus pandemic, several are contemplating whether recreational marijuana legalization and taxation may be one avenue to raise new revenue. While states that have already legalized do raise meaningful revenue, lawmakers should remember that establishment of legal markets takes time.

5 min read

How Expensing for Capital Investment Can Accelerate the Transition to a Cleaner Economy

Expensing for capital investments is a powerful tax policy for economic growth. But expensing can also help shift the economy to a more sustainable future through increased investment in new, less carbon-intensive technology. Expensing for capital investment would eliminate a tax bias against energy efficiency improvements that reduce operating costs but involve high upfront investments. It could also serve to accelerate the existing trend of movement towards more green energy power sources.

28 min read
Digital tax debate, Digital taxes around the world, Digital economy taxes

Digital Services Taxes

Over the last several years, policymakers in countries around the world have groped for new ways to tax e-commerce, social media, cloud-based, and other online businesses, in some cases stoking major international trade disputes in the process. In this episode of The Deduction, we explore the “digital services tax” (DST), one new and increasingly popular policy designed to address the digital economy.

2021 sales taxes, 2021 state and local sales tax rates. 2021 state sales tax rates, 2021 sales tax rates. sales tax rates by state, sales taxes by state

State and Local Sales Tax Rates, 2021

While many factors influence business location and investment decisions, sales taxes are something within lawmakers’ control that can have immediate impacts.

12 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

State Tax Changes Effective January 1, 2021

Twenty-six states and the District of Columbia had notable tax changes take effect on January 1, 2021. Because most states’ legislative sessions were cut short in 2020 due to the COVID-19 pandemic, fewer tax changes were adopted in 2020 than in a typical year.

24 min read
Federal cigarette tax harm reduction efforts, federal cigarette tax proposal House Democrats tobacco tax New Year's Resolutions for tax policymakers. New Year's Resolutions for tax policy

Three New Year’s Resolutions for Tax Policymakers

The world is ready to close the book on 2020 and start fresh in 2021, awaiting widespread vaccination, an end to the pandemic, and the beginning of a new chapter of economic recovery. With a fresh start in mind, and a healthy dose of optimism, here are three New Year’s resolutions for crafting better tax policy in the coming year.

2 min read
New Year's Eve taxes, Sparkling wine taxes in Europe

Sparkling Wine Taxes in Europe

This week, people around the world will celebrate New Year’s Eve, with many opening a bottle of sparkling wine to wish farewell to—a rather consequential—2020 and offer a warm welcome to the—by many of us, long-awaited—new year 2021.

1 min read
What is a Tax Refund? Why do I get a tax refund? How much do I owe in taxes? Advance Child Tax Credit Payments IRS Tax Refund Where's my refund? Tax Refund calculator, How much will my tax refund be? Tax withholding calculator, How much taxes did I pay? Form 1040 and W2 IRS tax withholding estimator tool

COVID-19 Relief Package FAQ

The latest $900 billion coronavirus relief bill extends and modifies several provisions first enacted in the CARES Act, Congress’s $2.2 trillion pandemic relief law that was passed in March. With this package, lawmakers will have responded to the coronavirus and related economic hardship with a record-setting $3 trillion of fiscal support.

14 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

Tax Extenders Hitch a Ride on Omnibus and COVID-19 Relief Deal

Tax extenders are no stranger to hitching a last-minute ride on year-end legislation. This year they made another last-minute appearance, finding a hold in their own division of the 5,593-page bill to fund the government through the fiscal year and provide additional coronavirus relief through March.

2 min read