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Individual Income and Payroll Taxes

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Biden’s Tax Proposals Could Impact Small Businesses Over Time

The Biden administration has primarily focused on increasing taxes on top earners to generate revenue to fund its spending priorities. However, these proposals would hit many pass-through businesses and much of pass-through business income, including small businesses, family-owned businesses, and farms.

3 min read
Arizona tax reform, Arizona income tax reform, Arizona budget tax package Arizona tax plan signed by Gov. Ducey tax

What’s in Arizona’s Tax Reform Package?

After weeks of deliberations, Arizona Gov. Doug Ducey signed into law a budget for fiscal year (FY) 2022 that reduces the state’s individual income tax rates and consolidates brackets, a plan that will help restore Arizona’s reputation as a low-tax alternative to California.

7 min read
Wisconsin state budget tax proposals Wisconsin standard deduction increase, Wisconsin tangible personal property tax reform, Madison Wisconsin

Wisconsin Legislature Considering Several Pro-Growth Tax Reforms

Reducing the second-highest individual income tax rate, repealing the TPP tax, and freezing UI tax rates are three valuable reforms that would help promote a smooth economic recovery in Wisconsin while setting the state up for robust economic growth for years to come.

6 min read
2022 state tax changes effective January 1, 2022 child tax credit changes and child tax credit reform options 2021 state tax changes July 1 2021 US business tax collections remained close to historical norm in 2018. US business tax revenue and taxes paid by pass-through firms

State Tax Changes Taking Effect July 1, 2021

Thirteen states have notable tax changes taking effect on July 1, 2021, which is the first day of fiscal year (FY) 2022 for every state except Alabama, Michigan, New York, and Texas. Individual and corporate income tax changes usually take effect at the beginning of the calendar year for the sake of maintaining policy consistency throughout the tax year, but sales and excise tax changes often correspond with the beginning of a fiscal year.

11 min read

New Hampshire Closes in on Tax Cuts to Enhance State’s Competitive Advantage

New Hampshire lawmakers are scheduled to take up a budget conference report which contains several tax reforms negotiated by both chambers that would ultimately make New Hampshire the ninth state to impose no tax on individual income. These reforms floated at the beginning of the 2021 session found their way into HB 2, including rate reductions in the Business Profits Tax (BPT) and Business Enterprise Tax (BET) and a phaseout of the interest and dividends tax.

4 min read
Tracking the 2021 Biden Tax Plan

Tracking the 2021 Biden Tax Plan and Federal Tax Proposals

Taxes are once again at the forefront of the public policy debate as legislators grapple with how to fund new infrastructure spending, among other priorities. Our tax tracker helps you stay up-to-date as new tax plans emerge from the Biden administration and Congress.

1 min read
Louisiana tax reform proposals Louisiana individual income tax reform Louisiana corporate income tax reform

Louisiana Fiscal Session Finishes Strong with Tax Reform

It took until the last day of the session, but Louisiana lawmakers succeeded in passing a tax reform package Thursday that would simplify a complicated tax code and make the state more economically competitive.

4 min read
Wisconsin budget surplus Wisconsin budget tax proposals Wisconsin property tax system, Wisconsin State Assembly, Wisconsin Committee on Community Development

Wisconsin’s Surplus Presents Opportunity for Down Payment on Future Economic Growth

As Wisconsin emerges from the pandemic, state policymakers have a rare opportunity to reinvest excess revenues in a structurally sound manner that will make the state more attractive to individuals and businesses, promote a quicker and more robust economic recovery, and put the state on the path to increased in-state investment and growth for many years to come.

7 min read
Inflation Reduction Act book minimum tax Inflation Reduction Act accelerated depreciation change in corporate tax liablities, book tax, or corporate minimum tax congressional budget office cbo Eliminating the alternative minimum tax eliminating the AMT inflation indexing, inflation adjusting state tax codes, traditional CPI, index brackets for inflation, index for inflation

A Closer Look at Eliminating the AMT

In our new Options for Reforming America’s Tax Code 2.0, there are several options that would simplify the tax code, including eliminating the alternative minimum tax (AMT). While this move would remove a source of complexity, policymakers should also consider reforming the deductions that created a justification for the AMT in the first place.

3 min read