Georgia Implements Structurally Sound Tax Changes
Two bills in Georgia will lower the flat individual income tax rate and align the corporate income tax rate with the individual income tax rate.
4 min read
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Why Are the Individual Tax Cuts Expiring?
The TCJA improved the U.S. tax code, but the meandering voyage of its passing and the compromises made to get it into law show the challenges of the legislative process.
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Taxocracy Tales with Scott Hodge
All taxes tell a story, and today we’ll explore how taxes influenced Bob Dylan’s decision to sell his music catalog, how the “chicken tax” reshaped the auto industry, and how the historic “tax on air and light” had profound effects on architecture and living conditions.
Estate, Inheritance, and Gift Taxes in Europe, 2024
As tempting as inheritance, estate, and gift taxes might look—especially when the OECD notes them as a way to reduce wealth inequality—their limited capacity to collect revenue and their negative impact on entrepreneurial activity, saving, and work should make policymakers consider their repeal instead of boosting them.
2 min read
State Income Taxes and the 2024 NFL Draft Class
Here’s how much NFL players can expect to pay in state and local income taxes—to all relevant states—at multiple salary levels, by team.
7 min read
How Burdensome Are Your State’s Nonresident Income Tax Filing Laws?
One relatively easy but meaningful step policymakers can take to make future tax seasons less burdensome is to modernize their state’s nonresident income tax filing, withholding, and reciprocity laws.
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When Looking to Reform Inflation Reduction Act, Start with EV Credits
Over the next 10 years, the IRA’s energy tax credits are projected to cost north of $1 trillion, adding to the federal government’s budgetary challenges and burgeoning debt.
6 min read
Unstable Taxes and an Unpredictable Future
When the tax code is stable and predictable, individuals, families, and businesses can set goals for the future and make plans to achieve them.
Survey Says Tax Confusion
All Americans are affected by the tax code—but do they understand the tax code?
Excise Duties on Electricity in Europe, 2024
EU Member States should seek to minimize the rate and broaden the base of electricity duties, consolidating their rates to the required minimum rate.
3 min read
New National Tax Literacy Poll Highlights Need for Better Tax Education
Despite taxes playing a significant role in personal finances and being levied on a sizable portion of the U.S. population, most Americans are not just unhappy with the current tax code but also do not understand it.
4 min read
Vermont Tax Proposals Would Leave the State and Vermonters Behind
With proposals to adopt the nation’s highest corporate income tax, second-highest individual income tax, and most aggressive treatment of foreign earnings, as well as to implement an unusually high tax on property transfers, Vermont lawmakers have no shortage of options for raising taxes dramatically.
7 min read
Portugal’s Personal Income Tax System: High Top Rate, Threshold, and Tax Credits
Portugal’s personal income tax system levies high tax rates on an unusually narrow set of high earners, striking a poor balance between earnings incentives and revenue contributions.
4 min read
Facts & Figures 2024: How Does Your State Compare?
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min read
Blog
Short FormDoes the Federal Tax Code Privilege the Rich?
The federal income tax drives the tax code’s progressivity. In 2021, taxpayers with higher incomes paid much higher average income tax rates than taxpayers with lower incomes.
4 min read
State Tax Rates on Long-Term Capital Gains, 2024
Savings and investment are critical activities, both for individuals’ and families’ financial security and for the health of the national economy as a whole. As such, policymakers should consider how they can help mitigate—rather than add to—tax codes’ biases against saving and investment.
5 min read
Can States Afford Their Recent Tax Cuts?
With state tax revenues receding from all-time highs, there’s been a great deal of handwringing about whether states can afford the tax cuts adopted over the past few years. Given that 27 states reduced the rate of a major tax between 2021 and 2023, is there reason for concern?
4 min read
Considering Tax Reform Options for 2025 (and Beyond)
Given that U.S. debt is roughly the size of our annual economic output, policymakers will face many tough fiscal choices in the coming years. The good news is there are policies that both support a larger economy and avoid adding to the debt.
6 min read
Sources of US Tax Revenue by Tax Type, 2024 Update
Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
3 min read