Citations

Pies and Charts is the annual mid-session briefing hosted by Colorado Fiscal Institute. 

The complex set of tax changes in the recent federal tax bill creates a set of challenging decisions for states like Minnesota. Because Minnesota’s state income and corporate taxes use federal tax law as their starting points, when federal laws change, Minnesota policymakers need to decide whether to incorporate those changes into our tax system. Read more […]

Although corporate taxes are not reported on individual income tax forms, corporate tax cuts benefit those who own stocks, and the vast majority are owned by upper-income individuals. For that reason, ITEP included corporate tax breaks in its analysis of the federal tax law.

A proposal before the Legislature seeks to amend the child tax credit that was created through recent legislation passed by both chambers and signed by the Governor. This analysis presents the effect of the revised credit amount proposed in House Bill 675 together with the provisions of House Bill 463 on Idaho families, as enacted. […]

As a result of TCJA, Legislative Council estimates the state will see increased revenue of $196.5 million in FY 2018-2019, and $329.8 million in increases in FY 2019-2020. However, new analysis from the Institute on Taxation and Economic Policy suggests the revenue increase next year could be closer to $28 million.

The tax bill that recently passed the Iowa Senate included a provision from the recent federal tax cut bill that provides preferential tax treatment for certain kinds of business income earned mostly by the highest income taxpayers. The “Qualified Business Income Deduction” (QBID) provides a 20 percent exemption of that income from the personal income tax.

The tax bill that recently passed the Iowa Senate included a provision from the recent federal tax cut bill that provides preferential tax treatment for certain kinds of business income earned mostly by the highest income taxpayers. The “Qualified Business Income Deduction” (QBID) provides a 20 percent exemption of that income from the personal income […]

Iowa’s General Assembly opened with promises from legislative leadership and the Governor for tax reform. We noted key opportunities to assure a fairer and sustainable system in a brief report last fall, “Introduction to 2018: What should be part of tax reform? And what should not?”[i] These options remain; some are gaining attention — such as the elimination of federal deductibility and the closing of sales tax loopholes — and some are not.

Many people in our state work at low-paying jobs. Arkansans who work hard for little money pay a much higher share of their income to state and local taxes compared to the wealthiest. That’s not the way it should be. Fortunately, there is a great option for Arkansas (just ask the 29 other states that are already using it!) that can help turn things around for working families. That option is a state-level Earned Income Tax Credit (or EITC). At Arkansas Advocates for Children and families, we are so in love with the Earned Income Tax Credit that we decided to sing about it.

A range of tax bills are still in the pipeline at the General Assembly after lawmakers already approved a sweeping package of income tax cuts. Georgia’s 2018 General Assembly advanced 11 pieces of tax legislation by the Feb. 28 Crossover Day milestone that affect state revenues if approved by the House, Senate and the governor. […]