1,134 posts
How the Revised Senate Tax Bill Would Affect Connecticut Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Connecticut, 57 percent of the federal tax cuts would go to the richest 5 percent of residents, and 22 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect District of Columbia Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In District of Columbia, 74 percent of the federal tax cuts would go to the richest 5 percent of residents, and 25 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Florida Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Florida, 60 percent of the federal tax cuts would go to the richest 5 percent of residents, and 8 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Illinois Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Illinois, 51 percent of the federal tax cuts would go to the richest 5 percent of residents, and 15 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Iowa Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Iowa, 34 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Kentucky Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Kentucky, 43 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Louisiana Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Louisiana, 50 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Massachusetts Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Massachusetts, 56 percent of the federal tax cuts would go to the richest 5 percent of residents, and 17 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Missouri Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Missouri, 45 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Michigan Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Michigan, 49 percent of the federal tax cuts would go to the richest 5 percent of residents, and 10 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Maryland Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Maryland, 77 percent of the federal tax cuts would go to the richest 5 percent of residents, and 27 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Maine Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Maine, 37 percent of the federal tax cuts would go to the richest 5 percent of residents, and 11 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Indiana Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Indiana, 42 percent of the federal tax cuts would go to the richest 5 percent of residents, and 7 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Idaho Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Idaho, 43 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Delaware Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Delaware, 42 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect California Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In California, 39 percent of the federal tax cuts would go to the richest 5 percent of residents, and 20 percent of households would face a tax increase, once the bill is fully implemented.
How the Revised Senate Tax Bill Would Affect Arizona Residents’ Federal Taxes
• By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Arizona, 48 percent of the federal tax cuts would go to the richest 5 percent of residents, and 12 percent of households would face a tax increase, once the bill is fully implemented.
House Tax Plan Would Make Offshore Tax Avoidance Substantially Worse
• By Richard Phillips
The Sunday release of the Paradise Papers has once again brought the issue of offshore tax avoidance to the forefront of public discussion. The papers expose the complex structures that companies such as Apple and Nike have pursued in recent years to pay little to nothing in taxes on their offshore earnings. Yet even as these revelations make headlines, House Republicans are moving forward with major tax legislation, the Tax Cuts and Jobs Act, that…
American Corporations Tell IRS that 61 Percent of Their Offshore Profits Are in 10 Tax Havens
• By Richard Phillips
Recent revelations that a Bermuda law firm helped facilitate offshore tax avoidance has heightened awareness of the vast amount of income and wealth flowing into tax and secrecy havens worldwide. The countries through which this firm helped funnel global elites’ assets also act as tax havens for multinational corporations. Recently released data from the Internal Revenue Service show that U.S. corporations claim that 61 percent of their foreign subsidiaries’ pretax worldwide income is being earned…
Paradise Papers Underscore Why Lawmakers Should Focus on Offshore Tax Avoidance
• By ITEP Staff
Following is a statement by Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, regarding the release of the “Paradise Papers,” a series of documents from Appleby, a leading offshore law firm. The International Consortium of Investigative Journalists released the investigative report today.
Fact Sheet: Nike and Tax Avoidance
• By Richard Phillips
Nike earned more than $10 billion in U.S. profits from 2008 to 2015 but only paid 18.6 percent in U.S. federal taxes during this time. This is just over half of the official U.S. corporate tax rate of 35 percent.
Fact Sheet: Facebook and Tax Avoidance
• By Richard Phillips
Since Facebook became a public company, its annual revenues have increased by 250 percent from around $8 billion in 2013 to nearly $28 billion last year. In the same time period, the company’s before-tax profits shot up four-and-a-half fold to $12.5 billion. But in this time it has also managed to avoid billions of dollars in U.S. taxes.
Fact Sheet: Apple and Tax Avoidance
• By Richard Phillips
Apple is the most valuable public company of all time with a market value of more than $800 billion. Last year, it cleared $45.7 billion[iii] in profits after taxes, making it the most profitable company in the Fortune 500 for the third straight year.
9 Things You Should Know About the Tax Debate
• By Richard Phillips
A Chart Book on the U.S. Tax System
The Manufacturing Deduction Is a Case Study in Tax Policy Gone Wrong
• By Richard Phillips
When you think of manufacturing, what comes to mind? According to the U.S. Congress, manufacturing may include things like the production of wrestling-rated films, assembling bouquets of flowers and even slicing cheesecake. These unusual definitions of manufacturing come from the domestic production activities deduction (better known as the manufacturing deduction), a tax break Congress created to encourage manufacturing in the United States.
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