Microsoft avoided federal income tax on almost all of its U.S. income for fiscal year 2026. The company’s 2.44 percent federal tax rate on over $100 billion of U.S. income is largely attributable to tax breaks that were either created or expanded by Republican tax cuts enacted at the behest of President Donald Trump in 2017 and 2025.

A former Democratic senator from Nebraska has joined Saving America’s Family Enterprises and taken up its cause of opposing wealth taxes.

Jenell Burns is the Operations Manager at ITEP. She supports the organization’s financial administration, operations, and organizational systems. Formerly with Funders for Justice, Jenell has spent her career supporting mission-driven organizations by strengthening their operations, streamlining processes, and helping teams work more effectively. She is passionate about building sustainable systems, fostering collaboration, and enabling organizations […]

The spending plan, signed into law by Gov. Dan McKee today, features a new millionaires’ tax, the state’s first permanent child tax credit, expanded eligibility for its Social Security exemption , and strategic decoupling from federal business tax provisions.

The task for local elected officials in this moment is therefore clear: use available tools to make the wealthy pay their fair share to fund the essential public goods that allow our communities to live safe, healthy, and thriving lives.

Proposals to index taxes on capital gains for inflation would overwhelmingly benefit the richest 1 percent and increase the deficit by nearly $1 trillion over a decade.

Maine Gov. Janet Mills on Friday put her seal of approval on a supplemental budget bill that includes a “millionaires’ tax.”

ITEP tracks tax discussions in legislatures across the country and uses our unique data capacity to analyze the revenue, distributional, and racial and ethnic impacts of many of these proposals. State Tax Watch offers the latest news and movement from each state.

Taxing tourists is a relatively efficient way to ensure that visitors are paying a share of essential government services. Places with a modest number of tourists should limit general sales tax rates to minimize the effect on the full-time population. Places with higher proportions of tourists may have higher sales tax rates to better capture the economic behavior of tourists.

Williamson speaks about why tax politics has long been tied to questions of democratic inclusion, what history can teach us about today’s tax debates, and how tax policy shapes the future of American democracy.

This week, troubling revenue projections are making headlines, with many lawmakers scrambling to determine how the tax changes at the federal level, plus price hikes driven by national policy decisions, will impact their states.

The leaders of Alphabet, Amazon, Meta, and Tesla publicly supported Trump to ensure the most favorable corporate tax policies possible. And Trump delivered for them, both in his 2017 tax bill and again in 2025 with the so-called One Big Beautiful Bill Act.

Semiconductor giant Nvidia reported avoiding $6.8 billion in federal income taxes last year. The company did this in a year when it reported greater earnings growth than almost any corporation in history, with U.S. pretax income coming in at an astonishing $123 billion.

FDDEI deductions should be repealed for policy reasons alone as they do not serve a legitimate purpose at the state level.

Palantir reported $1.5 billion of U.S. income but paid exactly zero federal income tax in 2025. Despite explosive growth, tax breaks from the Trump tax law helped Palantir avoid paying even a dime of federal income tax on its earnings.

The following is a statement by Amy Hanauer, executive director at the Institute on Taxation and Economic Policy, in response to yesterday’s announcement that President Trump and his family are suing the IRS over the leak of his tax returns by an IRS contractor: “Several years ago, an IRS contractor leaked confidential tax return data […]

The Trump administration’s Council of Economic Advisors suggests that states consider drastically raising sales taxes and using those new revenues to pay for repealing taxes on corporate and personal income. Working-class families would face dramatic tax increases while the nation’s wealthiest families would see their state tax bills plummet.

Tesla enjoyed almost $5.7 billion of U.S. income in 2025 but paid $0 in federal income tax. Over the past three years, the Elon Musk-led company reported $12.5 billion of U.S. income on which its current federal tax was just $48 million.

A ballot initiative in Massachusetts has proposed cutting the base rate for nearly all income sources from 5 to 4 percent. In 2026, this would cost the state about $5 billion per year of which $347 million would come from the reduced rate on long-term capital gains.

Missouri lawmakers have been pushing regressive and shortsighted tax policies that undermine everyday workers and sabotage the Show-Me State’s ability to raise revenue.

From Congressional discussions over the so-called "One Big Beautiful Bill Act" to debates on property taxes, ITEP kept busy this year analyzing tax proposals and showing Americans across the country how tax decisions affect them.

The U.S. needs a tax code that is more progressive and that raises more revenue than the one we have now. An important way to achieve this is to reform the taxation of business profits.

American corporations use accounting gimmicks to make profits appear to be earned in tax havens. This widespread problem could be fixed by Congress enacting legislation to implement a minimum tax on corporations that meets the standards of the global minimum tax that other countries have begun to implement.

State deductions for tips and overtime are not only ineffective at supporting working-class people, it will come at a substantial cost to state budgets.

FIFA demanded sales tax breaks on World Cup Tickets. That means millions in lost revenue for host cities already shouldering the costs on providing infrastructure, security and logistics.