How the State and Local Tax Deduction Interacts with the AMT and Pease Limitation
The way the state and local tax deduction, alternative minimum tax, and Pease limitation interact is complex. This primer makes things easier to understand.
5 min readThe way the state and local tax deduction, alternative minimum tax, and Pease limitation interact is complex. This primer makes things easier to understand.
5 min readExcessive tax rates on cigarettes approach de facto prohibition in some states, inducing black and gray market movement of tobacco products into high-tax states from low-tax states or foreign sources.
7 min readThis comprehensive overview of the of the House Tax Cuts and Jobs Act includes a summary of its details and macroeconomic analysis of how it would impact federal revenue, wages, GDP, and after-tax incomes.
21 min readThe widely anticipated House Tax Cuts and Jobs Act includes hundreds of structural changes to the tax code. Here are the eight most important provisions in no particular order.
6 min readThe House Tax Cuts and Jobs act would fundamentally reform the U.S. tax code for the first time in over 30 years. Here are all the important details.
4 min readTo achieve meaningful tax reform, Congress will require significant base-broadeners. Saving the property tax deduction makes the math more difficult, but still leaves clear paths forward.
6 min readDue in part to historical accident and also to the proliferation of exemptions, the effectiveness of the state sales tax continues to erode. The median state sales tax, which should apply to all personal consumption, is nonly applied to 23 percent of personal consumption.
27 min readThe state and local tax deduction isn’t just a costly federal subsidy. It also skews state and local tax policy decisions.
2 min readFor 15 years, our State Business Tax Climate Index has been the standard for legislators and taxpayers to understand how their state’s tax code compares and how it can be improved. Now, for the first time ever, you can explore our Index’s 100+ variables in an easy to use, interactive format.
16 min readThe broad conclusion here is that, in drafting the Republican Framework, lawmakers have left themselves with at least one significant lever for delivering middle class tax relief: the child tax credit.
7 min readA cap on the state and local deduction would limit tax increases for high-income taxpayers but also raise about one-quarter the revenue as full repeal.
2 min readTax reform should aim to get the tax code out of the way of entrepreneurship by making it simpler, less burdensome, and eliminating its anti-growth biases.
16 min readBased on the details we have, the Big Six tax plan would lower taxes on the bottom 80% of taxpayers, and raise the tax burden on the top 20% of taxpayers.
7 min readThe state and local tax deduction favors high-income individuals in high-tax states. Six states—California, New York, New Jersey, Illinois, Texas, and Pennsylvania—claim more than half of the value of the deduction.
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