Many states levy taxes on liquids on a per-barrel basis. However, some states define a “barrel” differently than the standard measurement. The landscape of unharmonious units creates complexity and compliance costs for businesses that must pay these taxes in multiple states.
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The “no tax on” deductions show the drawbacks of using narrowly tailored provisions to provide tax relief.
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Jock taxes on highly paid athletes and entertainers are here to stay, but states could make life easier for the rest of us, at very little cost, by adopting reasonable nonresident filing and withholding thresholds for ordinary taxpayers.
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Investment in digital assets, long thought of as a niche interest reserved for enthusiasts, has broken into the mainstream. In 2026, about one in five US adults report being invested in or using cryptocurrency.
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Ten years ago, then-Speaker Paul Ryan and Ways and Means Chairman Kevin Brady released the “Better Way” Tax Plan, the blueprint that would eventually become the Tax Cuts and Jobs Act of 2017—the largest overhaul of the US tax code in over 30 years.
If America’s leaders today want to learn how to build a lasting system on the foundation of simplicity and neutrality, they should follow the Siim Kallas blueprint.
4 min read
How we support savings in the US is too complex, and Trump Accounts worsen the problem. If lawmakers truly want to increase savings for taxpayers from day one, they should look to the UK and Canada, which have done it successfully for many years.
With nearly 2 million US jobs tied to trade with Canada and Mexico, stalling renewal — or withdrawing outright — would compound tariff uncertainty at exactly the wrong time.
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A new bill introduced in the Minnesota House seeks to tax non-real assets, imposing an annual tax of 1 percent on “taxable wealth” exceeding $10 million for individuals and trusts from tax year 2026 onward.
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Most Americans don’t understand how the tax code works, and it’s costing them.
Millions of Americans, along with significant amounts of income and economic activity, are moving from high-tax states to those with more competitive tax systems and lower overall costs of living.
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The total amount refunded as of the sixth week of reporting is running ahead of the past filing season by nearly $23 billion at $202.6 billion compared to $179.5 billion, while the average refund is up 10.9 percent at $3,571.
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The past decade’s record suggests that countries have reliable legislative methods to improve their tax systems through ordinary tax reforms.
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Should you have to file a tax return in a state where you babysat for one hour? In 22 states, the answer is technically yes.
While it may feel good to receive a tax refund, it does not represent your tax burden—the tax liability you actually owe to the government.
Closing the EU’s value-added tax (VAT) actionable policy gap could yield €773 billion in government revenue—four times the EU’s 2026 budget.
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One year later, the evidence shows the tariffs were not reciprocal, did not generate the promised investment boom, raised less revenue than projected, and contributed to higher prices.
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
As the policy debate for the next presidential election begins to take shape, both sides need to be honest about their plans for addressing the actual challenges our country faces.
Enacting centralized sales tax collection and administration in Louisiana will help simplify the sales tax code and alleviate one of the issues that make it the least competitive sales tax regime in the country.
4 min read