ITEP's Research Priorities
Newark Star-Ledger: The 5 NJ Companies Reported Nearly $5 Billion in U.S. Income Last Year. Their Federal Tax Bill: $0
May 5, 2019
Identifying companies that pay nothing in federal taxes is no easy task, said Matthew Gardner, one of the authors of the IATEP report, and he suspects there are far more than the ones that his analysis uncovered. “The real number is probably bigger than 60,” he said. “Almost certainly.” The data examined by the group […]
Crain’s Detroit Business: If Whitmer’s Gas Tax Increase Is Dead, Sales Tax on Services, Anyone?
May 5, 2019
Car rentals at Detroit Metro Airport are subject to the sales tax. But ordering a ride from an Uber driver at the airport is exempted from sales tax because it’s a service. “Why should one of those people pay sales taxes and not the other?” asks Carl Davis, research director at the Institute on Taxation […]
Vox: Apple Is Spending Even More of Its Huge Tax Cut on Wall Street Stock Buybacks
May 1, 2019
Apple, like a lot of corporations, wasn’t paying the full 35 percent corporate tax rate even before the tax cut bill was passed, but the new legislation has been very good to it. According to the liberal-leaning Institute on Taxation and Economic Policy, dozens of profitable Fortune 500 companies paid no federal income taxes at all […]
Teachers in North Carolina and South Carolina are walking out and rallying this week for increased education funding, teacher and staff pay, and other improvements to benefit students—if you’re unsure why be sure to check out research on the teacher shortage and pay gap under “What We’re Reading” below. Meanwhile, budget debates have recently wrapped up in Indiana, Iowa, Massachusetts, New Hampshire, and Washington. And major tax debates are kicking into high gear in both Louisiana and Nebraska.
Houston Chronicle: Under New Tax Code, Oil Companies Get Rebates, Not Bills
May 1, 2019
Despite earning billions of dollars in profits, companies such as the California oil major Chevron, the Houston independent oil companies Occidental Petroleum and EOG Resources, and the Houston oil field services company Halliburton were able to claim tens of millions in tax rebates, according to a study earlier this month by the Institute on Taxation and Economic Policy.
Bloomberg: Gas Tax for Infrastructure Sparks Fears of Political Backlash
May 1, 2019
Some 30 states have raised their fuel taxes since 2003 -- including Republican-led Ohio, Arkansas and Alabama this year -- according to the Institute on Taxation and Economic Policy. States tack on an average tax of nearly 29 cents per gallon, according to the U.S. Energy Information Administration.
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