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2025 State tax changes taking effect January 1

State Tax Changes Taking Effect January 1, 2025

Thirty-nine states will begin 2025 with notable tax changes, including nine states cutting individual income taxes. Recent years have seen a wave of significant tax reforms, and the changes scheduled for 2025 show that these efforts have not let up.

25 min read
Christmas gifts Christmas shopping tariffs holiday shopping

Are Tariffs the Ghost of Christmas Future?

The holiday season is marked by time with friends and family, joy, and gift-giving. But could tax policy make the sticker shock from your shopping list next year tariff-ying?

4 min read

Behind the Numbers: Budget Shenanigans and the National Debt

What happens to your taxes when the Tax Cuts and Jobs Act expires on January 1, 2026? In this episode, we explore the potential tax hikes facing millions of Americans and the debate over measuring the budgetary impacts of extending tax cuts.

Louisiana tax reform 2024 and 2025 Louisiana income tax rates, franchise tax, full expensing, and inventory change sales tax changes

Louisiana Now Boasts a More Competitive and Pro-Growth Tax Code

Lawmakers will enter the 2025 fiscal legislative session with an opportunity to build on the successes of the November special session. Efforts should include addressing the outstanding issues within the corporate and sales tax codes that currently hold the state back.

7 min read
Summary of the Latest Federal Income Tax Data, 2025 Update

Summary of the Latest Federal Income Tax Data, Tax Year 2022

New IRS data shows the US federal income tax system continues to be progressive as high-income taxpayers pay the highest average income tax rates. Average tax rates for all income groups remain lower after the Tax Cuts and Jobs Act (TCJA).

6 min read
Trump Tax Cuts, Tariffs, and Reconciliation After the 2024 Election

Questions About Tax Cuts, Tariffs, and Reconciliation After the Election

Fiscal pressures are likely to weigh heavily on lawmakers as they craft a tax reform package. That increased pressure could result in well-designed tax reform that prioritizes economic growth, simplicity, and stability, or it could encourage budget gimmicks and economically harmful offsets. Lawmakers should avoid the latter.

8 min read
2025 State Tax Competitiveness Index

2025 State Tax Competitiveness Index

The State Tax Competitiveness Index enables policymakers, taxpayers, and business leaders to gauge how their states’ tax systems compare. While there are many ways to show how much state governments collect in taxes, the Index evaluates how well states structure their tax systems and provides a road map for improvement.

115 min read

Trump’s Income Tax Math Doesn’t Add Up

Trump has floated a proposal to replace the US income tax system with a new system of tariffs, moving the United States back to the tax mix of the late 19th century. The plan, simply put, is a mathematical impossibility.

Taxes in the Internet Age, World Wide Web, E-file, and Internet Tax Policy

Taxes in the Internet Age

Today marks 55 years since two students sent the first message across the Advanced Research Projects Agency Network (ARPANET) between computers at four universities, which would later become the internet we enjoy today.

5 min read