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Corporate and Pass-through Business Income and Returns Since 1980
More business income is reported on individual tax returns than corporate returns. The U.S. now has fewer corporations and more individually owned businesses. Corporations make up less than 5 percent of businesses but earn 60 percent of revenues.
3 min read![OECD tax revenues 2021 sources of government revenue in the oecd, 2019, government tax revenue corporate tax revenue corporate tax revenues](https://taxfoundation.org/wp-content/uploads/2019/04/Sources-of-government-revenue-euros-CROP-e1555963525137-300x188.jpeg)
Sources of Government Revenue in the OECD, 2019 Update
OECD countries have on average become more reliant on consumption taxes and less reliant on individual income taxes. These policy changes matter, considering that consumption-based taxes raise revenue with less economic damage and distortionary effects than taxes on income.
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Tax Treaty Network of European Countries
1 min read![Elizabeth Warren real corporate profits tax, Senator warren real corporate profits tax, elizabeth warren corporate tax proposal, Senator warren corporate tax proposal](https://taxfoundation.org/wp-content/uploads/2019/04/linkedin-In-Stream_Wide___elizabeth-warren-22-e1555533338764-300x158.jpg)
An Analysis of Senator Warren’s ‘Real Corporate Profits Tax’
Sen. Elizabeth Warren introduced a 7 percent surtax on corporate profits called the “Real Corporate Profits Tax.” We estimate that this tax would reduce the incentive to invest in the United States, and result in a 1.9 percent smaller economy, a 3.3 percent smaller capital stock, and 1.5 percent lower wages. The surtax would raise $872 billion between 2020 and 2029 on a conventional basis and $476 billion on a dynamic basis. The tax would make the tax code more progressive, but it would fall on taxpayers in every income group.
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An Overview of Capital Gains Taxes
Capital gains taxes create a burden on saving because they are an additional layer of taxes on a given dollar of income. The capital gains tax rate cannot be directly compared to individual income tax rates, because the additional layers of tax that apply to capital gains income must also be part of the discussion.
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Who Wants a Tax Increase?
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The First Filing Season under the TCJA
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Recapping the 2019 Arkansas Tax Reform
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Notable Tax Policy Changes in Europe
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How High Are Cigarette Taxes in Your State?
Cigarette taxes around the country are levied on top of the federal rate of $1.0066 per 20-pack of cigarettes. As of 2016, taxes accounted for almost half of the retail cost of a pack of cigarettes.
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A Tradition Unlike Any Other: The Masters Tax Exemption
Augusta National Golf Club is famous for more than green jackets and pimento cheese sandwiches—legend has it that it’s the impetus for one of the tax code’s many exemptions.
3 min read![American independence, which we celebrate this week, was born of a tax revolt. See more on "No Taxation without Representation" Fourth of July tax revolt.](https://taxfoundation.org/wp-content/uploads/2019/04/American-flag-e1554903204138-300x200.jpg)
Tax Freedom Day 2019 is April 16th
Tax Freedom Day represents how long Americans as a whole have to work in order to pay the nation’s tax burden. In 2019, Americans will pay $3.4 trillion in federal taxes and $1.8 trillion in state and local taxes, for a total bill of over $5.2 trillion, or 29 percent of the nation’s income.
5 min read