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Individual Income and Payroll Taxes

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trends in state tax policy, 2019 state tax trends

Tax Trends at the Dawn of 2020

From remote sales tax collection to taxes on marijuana and vaping products, we recap the top state tax trends from 2019 and break down which ones you should watch for in 2020.

38 min read
2023 State Tax Changes as of January 1, 2023, Comprehensive guide to 2020 tax changes and 2020 state tax changes

State Tax Changes as of January 1, 2020

This year was a significant one for state tax policy, and the wide range of changes taking effect January 1, 2020, reflects the scope and intensity of that activity. With states continuing to grapple with issues like the taxation of international income and collections obligations for remote sellers and marketplace facilitators, the coming year is unlikely to be any quieter.

23 min read
Effective tax rates on the top o.1 percent of u.s. households, taxing the rich, taxes on the rich, tax the rich

Comparing Wealth Taxation and Income Taxes

A low wealth tax rate is equivalent to a high-rate income tax. The interaction between wealth taxes and the existing income taxes must be considered when analyzing a wealth tax plan.

6 min read
Elizabeth Warren’s Plans Could Lead to Effective Tax Rates Over 100 Percent on Capital Income For Some

Illustrating Senator Warren’s Taxes on Capital Income

Taken together, these proposed tax changes would significantly raise marginal and effective tax rates and increase the cost of capital, all of which would lead to a reduced level of output and less revenue than anticipated.

5 min read
refundable tax credits definition What are the 2021 Tax Brackets?What are the 2020 Tax Brackets? 2021 federal income tax brackets, 2020 federal income tax brackets

2020 Tax Brackets

The IRS recently released the new 2020 tax brackets and rates. Explore updated credits, deductions, and exemptions, including the standard deduction & personal exemption, Alternative Minimum Tax (AMT), Earned Income Tax Credit (EITC), Child Tax Credit (CTC), capital gains brackets, qualified business income deduction (199A), and the annual exclusion for gifts.

5 min read
state tax revenue decline, state tax collections, local tax collections. Sources of Government Revenue

Reviewing the Deadweight Loss Effects of High Tax Rates

Deadweight loss effects demonstrate why policymakers should pursue a more efficient tax code to achieve distributional objectives, rather than pursuing high tax rates that create disproportionately high economic costs.

3 min read