Tax extenders this year can be split into three rough groups: expiring parts of the Tax Cuts and Jobs Act (TCJA), expiring parts of various COVID-19 economic relief packages, and the Island of Misfit Extenders.
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According to the 2021 International Tax Competitiveness Index, Switzerland has the best-structured consumption tax among OECD countries while Poland has the worst-structured consumption tax code.
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While there are many ways to show how much is collected in taxes by state governments, our State Business Tax Climate Index is designed to show how well states structure their tax systems and provides a road map for improvement.
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Policymakers and taxpayers should understand the scope of tax changes necessary to fully pay for the large-scale social spending programs that would be initiated under the Build Back Better Act.
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The bulk of economic evidence shows for most of the new tariffs imposed under the Trump administration, U.S. firms or consumers bore 100 percent, or even more, of the burden through lower profits or higher retail prices.
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As the Senate weighs changes to the spending and tax portions of the Build Back Better Act, the Congressional Budget Office (CBO) and Tax Foundation find the bill would increase the cumulative budget deficit over the next 10 years—contrary to claims the legislation is “fully paid for.”
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Faced not only with immediate surpluses but with the expectation of sustained revenue growth in coming years, Arkansas policymakers have chosen to return some of the additional revenue to taxpayers in the form of individual and corporate income tax rate reductions, with additional rate cuts if future revenues permit.
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In most states, you don’t have to visit for long before you start accruing tax liability.
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Michael J. Graetz is the Columbia Alumni Professor of Tax Law and a leading expert on national and international tax law.
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With the adoption of its new budget in mid-November, North Carolina has reinforced its position as a leader in pro-growth tax reform, becoming the 12th state to enact income tax rate reductions in 2021 alone.
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Learn more about the House Build Back Better Act, including the latest details and analysis of the Biden tax increases and reconciliation bill tax proposals.
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Senior policy analyst Garrett Watson joins host Jesse Solis to discuss the Build Back Better Act’s prospects and what tax changes—ranging from the SALT deduction to the Child Tax Credit—could change in order to gain enough support for passage.
According to the 2021 International Tax Competitiveness Index, Switzerland has the best-structured consumption tax among OECD countries while Poland has the worst-structured consumption tax code.
2 min read
Temporary tax relief measures, like refund checks or gas tax holidays, are not necessarily bad, and can be justified as ways to return excess revenues to taxpayers, but they often miss an opportunity to do better by taxpayers in the long run.
7 min read
Mississippi lawmakers should deliver tax relief in 2022, but they need not take an all-or-nothing approach. There are many ways to improve the state’s tax code, even if full income tax repeal doesn’t remain on the table.
6 min read
When looking at the tax burden on businesses over time, it is important to provide a complete picture by accounting for the different types of businesses in the U.S. and the timing effects of the 2017 tax law. Doing so provides important context on existing tax burdens and for considering the impact of raising taxes on corporations and pass-through firms.
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France’s individual income tax system is the least competitive of all OECD countries. It takes French businesses on average 80 hours annually to comply with the income tax.
3 min read