Blog Profile / Tax Foundation's Tax Policy Blog

Filed Under:Business & Finance / Taxes
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Archived Since:March 8, 2011

Blog Post Archive

Oklahoma Considering Income Tax Changes to Address Budget Shortfall

A new proposal in the state of Oklahoma would increase state income tax collections by $175.7 million. The income tax changes are part of a larger package of proposed tax increases to cover the state’s estimated $100 million budget shortfall, increase pay for educators, and fund other expenditures. The proposal would make several changes to […]

A Brief Review of Federal Infrastructure Trust Funds

Federal government investments in highways, mass transit, and other modes of transportation are crucial to facilitate the economic activity of the nation. As policymakers turn their attention to federal infrastructure investment, itShow More Summary

A Look Ahead at Expiring Tax Provisions

The recently passed Tax Cuts and Jobs Act (TCJA) added numerous temporary provisions to the tax code, which can be hard to keep track of. Thankfully, the Joint Committee on Taxation (JCT) recently put out an overview on all expiring and already expired tax provisions between 2016 and 2027. While many of these temporary provisions […]

Summary of the Latest Federal Income Tax Data, 2017 Update

The Internal Revenue Service has recently released new data on individual income taxes for tax year 2015, showing the number of taxpayers, adjusted gross income, and income tax shares by income percentiles.[1] The data demonstrate that the U.S. individual income tax continues to be very progressive, borne primarily by the highest income earners. In 2015, […]

New Federal Reserve Paper: State Corporate Taxes Hurt Entrepreneurship

Add another study to the growing literature of the importance of state tax policy on economic outcomes. On January 2nd, the D.C. branch of the Federal Reserve released an article by Professor E. Mark Curtis of Wake Forest University and Ryan A. Decker of the Federal Reserve examining how state tax policies impact employment at […]

Supreme Court Agrees to take South Dakota v. Wayfair Online Sales Tax Case

The U.S. Supreme Court has agreed to take South Dakota v. Wayfair Inc., which could result in a ruling that settles the years-long debate over how to apply sales taxes to online retail activity.

EU Seeks Tax Revenue to Close Brexit Budget Gap

The European Union is preparing for a budget shortfall as the United Kingdom leaves the union. The EU is expecting a €12 billion-€13 billion loss of revenue without the contributions from the UK. The hole in the EU budget is forcing the European Commission to search for new revenue sources. One proposal on the table […]

New OECD Study Reviews Research on Who Bears the Burden of Business Taxes

A new study provides a robust discussion of the economic incidence of business taxes, emphasizing that business tax burdens are allocated across consumers, workers, capital owners, and other actors in the economy. The study, by Anna Milanez of the Organisation for Economic Co-operation and Development (OECD), quantifies the amount of taxes businesses are legally obligated […]

Where did Americans Move in 2017?

There are many ways that states can compete with one another for residents, and tax rates and structures should certainly be part of the conversation for states looking to attract new residents.

Mississippi Lawmakers Consider Creation of State Lottery

As Mississippi policymakers contemplate a lottery, it may be tempting to think of it as free money—new revenue raised without having to adopt a new tax. A better way of thinking about the issue, however, would recognize the lottery for what it is: a regressive form of high implicit taxation.

New OECD Study Quantifies Crucial Role of Businesses in the Tax System

A new study by the Organisation for Economic Co-operation and Development (OECD) that compares the key role of businesses in the tax systems of member countries finds that U.S. businesses rank highest for taxes remitted on behalf of other taxpayers in the economy as a share of total government tax revenues. Analyses of business taxes […]

State Strategies to Preserve SALT Deductions for High-Income Taxpayers: Will They Work?

The scramble to restore the full state and local tax deduction for high-income taxpayers has resulted in inventive proposals that, for both legal and practical reasons, are unlikely to succeed.

What Percentage of Lottery Winnings Would be Withheld in Your State?

You probably aren’t going to win the Powerball jackpot, but your state already has. Here's a look at lottery withholding tax rates by state.

Other Federal Tax Changes in the New Year

Though the focus has been on the Tax Cuts and Jobs Act, there are other federal changes that took place on January 1, 2018 which are also worth reviewing.

Retirement Savings Left Largely Untouched by Tax Reform

While rumors flew around Washington in the fall that the Tax Cuts and Jobs Act would dramatically impact retirement savings accounts, the plan has made only a few minor modifications.

State Tax Changes That Took Effect on January 1, 2018

Many states rang in the new year with changes to their tax codes. Overshadowed in the public consciousness by federal tax reform, tax changes at the state level are nonetheless highly significant. Here are the key changes implemented at the state level on January 1, 2018. Connecticut: Large businesses have long faced a 20 percent […]

SALT Update: Property Tax Prepayments Need an Assessment

The tax world has been ablaze the last several weeks with discussion of ways to mitigate the Tax Cuts and Jobs Act’s limitation of the state and local taxes paid deduction. The bill previously stated that individuals couldn’t prepay state and local income taxes, but it made no mention of property taxes, raising the question: […]

States Estimating Revenue Increases from Federal Tax Bill; Montana One Exception So Far

Many state officials are spending the days leading up to Christmas analyzing the federal tax bill to see how it will impact state revenues. We at the Tax Foundation have been doing a lot of calls and answering a lot of emails on this, and states are generally finding a revenue boost from the bill. […]

Trade and Capital Flow Consequences of Tax Reform: A Means to a Faster Expansion of U.S. Capital Formation and Employment

H.R.1 – originally named “The Tax Cuts and Jobs Act of 2017” and subsequently retitled to conform to Senate Budget rules as “An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” – has passed the Congress and awaits the President’s signature. […]

Statement on Final Passage of the Tax Cuts and Jobs Act

With the Tax Cuts and Jobs Act, Congress took a historic step toward rewriting the U.S. tax code for the first time since 1986.

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