October 18, 2016Efforts to increase taxes usually face some opposition, particularly increases to broad-based taxes such as the sales or income tax. Yet in many states, lawmakers have been able to agree on one approach to revenue-raising: the cigarette tax. Since 2002, nearly every state has enacted a cigarette tax in-crease to fund health care, discourage smoking, or to help balance state budgets. This policy brief looks at the advantages and disadvantages of cigarette taxes, and cigarette tax increases, as a source of state and local revenue.
October 12, 2016This report explains the workings, and problems, with state-level tax subsidies for private K-12 education. It also discusses how the Internal Revenue Service (IRS) has exacerbated some of these problems by allowing taxpayers to claim federal charitable deductions even on private school contributions that were not truly charitable in nature. Finally, an appendix to this report provides additional detail on the specific K-12 private school tax subsidies made available by each state.
October 4, 2016This study explores how in 2015 Fortune 500 companies used tax haven subsidiaries to avoid paying taxes on much of their income. It reveals that tax haven use is now standard practice among the Fortune 500 and that a handful of the country's wealthiest corporations benefit the most from this tax avoidance scheme.
September 30, 2016We appreciate the Financial Accounting Standards Board's (FASB) ongoing review of its accounting standards to ensure that financial statements are "facilitating clear communication of information that is important to financial statement users." Overall, the changes to disclosure requirements proposed by FASB in the exposure draft would represent a significant step forward toward providing users of financial statements the clarity that they need. We believe, however, that the exposure draft does not go far enough in providing the clarity needed and sought by investors and the public alike.
September 15, 2016Despite this unlevel playing field states create for their poorest residents through existing policies, many state policymakers have proposed (and in some cases enacted) tax increases on the poor under the guise of "tax reform," often to finance tax cuts for their wealthiest residents and profitable corporations.
- State Tax Subsidies for Private K-12 Education
- State Tax Codes As Poverty Fighting Tools
- Undocumented Immigrants' State and Local Tax Contributions
- Who Pays? A Distributional Analysis of the Tax Systems in All 50 States (5th Edition)
- Improving Tax Fairness with a State Earned Income Tax Credit
- Debunking Laffer on Tax Cuts and Economic Growth
- The ITEP Guide to Fair State and Local Taxes
Tax Justice Blog
- Tax Justice Digest: Little Scrutiny over a Tax Scheme Outrage, Clinton's Tax Plan, and State Ballot Measures - 10/2016
- State Rundown 10/12: Lagging Revenues, Taxpayer Boondoggles, and Yet More Kansas Tax News - 10/2016
- On Revenues and Referenda: Will Oregon Require More from Large Businesses? - 10/2016
Cigarette Taxes: Issues and Options
State Tax Subsidies for Private K-12 Education
Offshore Shell Games 2016
Reports Using ITEP Data
Michigan League for Public Policy: Review tax expenditures to help fix Michigan's broken revenue stream