Category: State Corporate Taxes

Aidan Davis
State Policy Director

July 18, 2024

Five Tax Takeaways from 2024 State Legislative Sessions

Major tax cuts were largely rejected this year, but states continue to chip away at income taxes. And while property tax cuts were a hot topic across the country, many states failed to deliver effective solutions to affordability issues.
Carl Davis
Research Director

April 1, 2024

Five Things to Know About Tax Foundation’s Critique of Maryland’s Worldwide Combined Reporting Proposal

Maryland lawmakers are considering enacting worldwide combined reporting (WWCR), also known as complete reporting. This policy offers a more accurate, and less gameable, way to calculate the amount of profit subject to state corporate tax. Enacting WWCR in Maryland would represent a huge step toward eliminating state corporate tax avoidance as it neutralizes a wide […]
Marco Guzman
Senior Policy Analyst

March 20, 2024

States Move to Tax the Top in 2024

These forward-thinking states are demonstrating the wide variety of options for policymakers who want to raise more from the wealthiest people, rein in corporate tax avoidance, create fair tax codes and build strong communities.
Aidan Davis
State Policy Director

July 7, 2023

The Highs and Lows of 2023 State Legislative Sessions

Nearly one-third of states took steps to improve their tax systems this year by investing in people through refundable tax credits, and in a few notable cases by raising revenue from those most able to pay. But another third of states lost ground, continuing a trend of permanent tax cuts that overwhelmingly benefit high-income households and make tax codes less adequate and equitable.
Matthew Gardner
Senior Fellow

July 7, 2023

Minnesota’s Tax Battle of 2023 Signals a Turning of the Tide Against Corporate Tax Avoidance

The qualified success of Minnesota’s GILTI conformity—to say nothing of the state’s serious dalliance with the game-changing worldwide combined reporting--sends a clear signal that the days may be coming to an end when big multinationals can scare state lawmakers into allowing them to game the tax system.
Matthew Gardner
Senior Fellow

May 7, 2023

Minnesota Poised to Enact Landmark Loophole-Closing Corporate Tax Reforms

With Minnesota poised to enact worldwide combined reporting of corporate income taxes, business lobbyists are pulling out all the stops to make state lawmakers believe the apocalypse is upon them.
Neva Butkus
State Policy Analyst

May 3, 2023

Minnesota Lawmakers Re-Envision State Tax System to Center Equity

Minnesota’s House, Senate and Governor’s office have each proposed their own vision as to how the state should maximize its $17.5 billion surplus and raise new revenue, and these tax plans make one thing clear: Minnesota lawmakers are serious about using tax policy to advance tax equity and improve the lives of Minnesotans.
Marco Guzman
Senior Policy Analyst

February 28, 2023

New Jersey, New York, and Connecticut Should Keep Corporate Taxes Strong, Extend Surcharges

At a time when corporations are seeing record profits while not paying their fair share of federal taxes, state corporate income taxes can and should play a role in raising sustainable revenue and adding progressivity to state tax codes. Right now, lawmakers in New Jersey, New York, and Connecticut have a unique opportunity to extend targeted tax changes that have raised billions of dollars from profitable corporations for meaningful public investments.
Carl Davis
Research Director

February 22, 2023

The Five Best Tax Ideas Coming from Governors This Year

The word “tax” appears 97 times and counting in one recent summary of governors’ addresses to state legislators so far this year. The policy visions that governors are bringing, however, vary enormously. While there's good reason to worry about tax cuts for wealthy families and the flattening or elimination of income taxes, there are at least five great tax ideas coming directly out of governors’ offices this year.
Carl Davis
Research Director

October 31, 2022

Tax Foundation’s ‘State Business Tax Climate Index’ Bears Little Connection to Business Reality

The big problem with the Index is that it peddles a solution that not only falls short of the goal of generating business investment, but one that actively harms state lawmakers’ ability to provide the kinds of public goods – like good schools and modern, efficient transportation networks – that businesses need and want.
Richard Phillips
Senior Policy Analyst

January 17, 2019

How States Can Help Shut Down Tax Havens by Cracking Down on Profit Shifting

A core problem with our corporate income tax laws at the federal and state levels is that they allow companies to use accounting gimmicks to shift significant amounts of their profits into low or zero-tax jurisdictions. Federal lawmakers had an opportunity to address this with the 2017 tax law, but they failed to do so, and, in fact, the law may incentivize more offshore tax avoidance. State lawmakers, however, can buck the federal trend and crack down on profit shifting themselves.
Carl Davis
Research Director

November 13, 2018

Three Tax Takeaways on Amazon’s Expansion Announcement

Today Amazon announced major expansions in New York and Virginia, where it intends to hire up to 50,000 full-time employees. The announcement marks the culmination of a highly publicized search that lasted more than a year and involved aggressive courting of the company by cities across the nation. The following are three tax-related observations on the announcement.
Aidan Davis
State Policy Director

October 17, 2018

New Report Finds that Upside-down State and Local Tax Systems Persist, Contributing to Inequality in Most States

State and local tax systems in 45 states worsen income inequality by making incomes more unequal after taxes. The worst among these are identified in ITEP’s Terrible 10. Washington, Texas, Florida, South Dakota, Nevada, Tennessee, Pennsylvania, Illinois, Oklahoma, and Wyoming hold the dubious honor of having the most regressive state and local tax systems in the nation. These states ask far more of their lower- and middle-income residents than of their wealthiest taxpayers.
Aidan Davis
State Policy Director

April 27, 2017

New State Corporate Study: 3 Percent and Dropping

States are experiencing a rapid decline in state corporate income tax revenue, and the downward trend has become increasingly pronounced in recent years. Despite rebounding bottom lines for many corporations, a new ITEP report, 3 Percent and Dropping: State Corporate Tax Avoidance in the Fortune 500, 2008 to 2015,finds that effective tax rates paid by […]
Lisa Christensen Gee
Director of Special Initiatives

April 21, 2017

No Room to Swing a CAT in Louisiana Legislature

The Louisiana Legislature has been in session for two weeks now. The stage has been set for fiscal reform and the stakes are high. The state faces a $1.3 billion loss of revenue starting July 1, 2018 when the temporary sales tax base expansion and rate increase expires if lawmakers fail to close the gap […]
Dylan Grundman O'Neill
Senior Policy Analyst

February 27, 2017

States Should Require Combined Reporting of Corporate Income

An important aspect of a 21st century tax code is ensuring that corporate income taxes are easy for corporations to follow, but not easy for them to avoid. As our newly updated policy brief on Combined Reporting of State Corporate Income Taxes explains, “combined reporting” remains an essential tool for states to achieve these goals. […]