State Tax Changes Taking Effect January 1, 2024
Thirty-four states will ring in the new year with notable tax changes, including 15 states cutting individual or corporate income taxes (and some cutting both).
17 min read
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State and Local Tax Collections by State, 2023
Contrary to initial expectations, the pandemic years were good for state and local tax collections, and while the surges of 2021 and 2022 have not continued into calendar year 2023, revenues remain robust in most states and well above pre-pandemic levels even after accounting for inflation.
5 min read
2024 Tax Brackets
Explore the IRS inflation-adjusted 2024 tax brackets, for which taxpayers will file tax returns in early 2025.
4 min read
Movers and Shakers in the International Tax Competitiveness Index
The 2023 version of the International Tax Competitiveness Index is the 10th edition of the report. Let’s take a look back and see how country ranks have changed over time.
5 min read
Details and Analysis of Making the 2017 Tax Reforms Permanent
Lawmakers will have to weigh the economic, revenue, and distributional trade-offs of extending or making permanent the various provisions of the TCJA as they decide how to approach the upcoming expirations. A commitment to growth, opportunity, and fiscal responsibility should guide the approach.
18 min read
Taxes and Interstate Migration: 2023 Update
The latest IRS and Census data show that people and businesses favor states with low and structurally sound tax systems, which can impact the state’s economic growth and governmental coffers.
8 min read
Blog
Short FormDo People Really Move Because of Taxes?
What do The Rolling Stones, NFL star Tyreek Hill, and Maryland millionaires have in common? They all moved because of taxes.
4 min read
2023 European Tax Policy Scorecard
The variety of approaches to taxation among European countries creates a need to evaluate these systems relative to each other. For that purpose, we have developed the European Tax Policy Scorecard—a relative comparison of European countries’ tax systems.
52 min read
2024 State Business Tax Climate Index
In recognition of the fact that there are better and worse ways to raise revenue, our Index focuses on how state tax revenue is raised, not how much. The rankings, therefore, reflect how well states structure their tax systems.
111 min read
Testimony: Considerations for Improving Indiana’s Tax Structure and Competitiveness
Indiana’s tax code is structured in a relatively sound and economically efficient manner overall, but additional improvements should be considered to make the state even more economically competitive.
International Tax Competitiveness Index 2023
While there are many factors that affect a country’s economic performance, taxes play an important role. A well-structured tax code is easy for taxpayers to comply with and can promote economic development while raising sufficient revenue for a government’s priorities.
88 min read
How Taxing Consumption Would Improve Long-Term Opportunity and Well-Being for Families and Children
Income taxes impose steeper economic costs, and often steeper administrative and compliance costs, than consumption taxes. Moving to a consumption tax would end the tax bias against saving and investment and provide an opportunity to greatly simplify anti-poverty programs embedded in the tax code.
45 min read
The Future of Arkansas Tax Reform: Next Steps on the Road Map to Competitiveness
Responsible pro-growth reforms to Arkansas’s tax code can help ensure that the Natural State is indeed a Land of Opportunity.
9 min read
It Pays to Keep It Simple
Simplicity in the tax code means taxes should be easy for taxpayers to pay and easy for governments to administer and collect.
County Data Shows Repealing SALT Cap Would Benefit High-Income Earners
Any move to repeal the cap or enhance the deduction would disproportionately benefit higher earners, making the tax code more regressive.
5 min read
Summary of the Tax Credits Claimed on the Form 1040, Tax Year 2020
In tax year 2020, taxpayers claimed more than 159 million tax credits on their individual income tax returns worth a total of more than $277 billion. That was an increase of $35.3 billion from tax year 2019, largely due to an influx of pandemic relief administered through the tax code in 2020.
6 min read
Details and Analysis of the American Families and Jobs Act
Details and analysis of the latest House GOP tax plan, the American Families and Jobs Act. Learn more about the House Republican tax plan.
7 min read
“Monetizing” Clean Energy Tax Credits Creates a Sham Market for Bad Policy
Explore IRS clean energy tax credits, including Direct Pay, the IRA and CHIPS Act tax provisions, and Section 1603 grant program. See more.
7 min read
A Tax Reform Plan for Growth and Opportunity: Details & Analysis
This tax reform plan would boost long-run GDP by 2.5%, grow wages by 1.4%, and add 1.3M jobs, all while collecting a similar amount of tax revenue as the current code and reducing the long-run debt burden.
38 min read
Sources of Personal Income, Tax Year 2020
Reviewing reported income helps to understand the composition of the federal government’s revenue base and how Americans earn their taxable income. The individual income tax, the federal government’s largest source of revenue, is largely a tax on labor.
10 min read