Consequently, combined reporting represents the most comprehensive option available to states seeking to halt the erosion of their corporate tax bases and to curtail corporate tax avoidance. It ensures that…
Kentucky’s tax system currently faces two serious problems. The first – and most immediate – is that Kentucky’s tax system is insufficient, as it fails to produce enough revenue to…
As Kentucky grapples with the news of a potential $1 billion budget shortfall, there are good reasons for state lawmakers to turn to progressive tax reform instead of resorting to…
The stated purpose of this hearing is to evaluate the impact of New York’s business taxes on equity and economic growth. These are laudable concerns: the most basic questions to…
The Illinois tax system faces a crisis of both adequacy and equity. The state must confront a projected $11.6 billion budget shortfall over the next two fiscal years that will…
Earlier this week, the Missouri Senate Ways and Means Committee held a hearing on House Joint Resolution 36, which would eliminate the state’s individual and corporate income taxes while increasing…
Missouri House Bill 64 would change the state’s personal income tax in three important ways: • Expand the starting point for the 6 percent top income tax bracket from $9,000…
This policy brief examines the impact of the principal tax change in House Committee Substitute for Senate Bill 71, which would decrease each of the state’s income tax rates by…
On Friday, April 3, the Georgia General Assembly passed a budget for fiscal year 2010 that includes a major new tax cut (an exclusion for long-term capital gains income) and…
This report explains what capital gains are, how they are treated for tax purposes, and who typically receives them. It also details the consequences of providing preferential tax treatment for…
I am here today to offer testimony on House Bill 642, which was introduced by Representative Jessie Osborne earlier this year and which would improve New Hampshire’s tax system, both…
My testimony today focuses on one bill introduced in the Missouri House of Representatives: HB 567, which concerns reforming the state’s individual income tax structure. In particular, my testimony will…
We appreciate the opportunity to submit comments on ways to improve Minnesota’s business climate. Historically, Minnesota has ranked above the national average in terms of many economic and social indicators.…
Data released late last week by the Internal Revenue Service (IRS) indicate that 10 states have greater concentrations of reported income among their very wealthiest residents than the country as…
Louisiana lawmakers are in what appears to be an enviable position. At a time when legislators in many other states face daunting budget shortfalls, Louisiana enjoys a projected short-term budget…
On Wednesday, May 14, 2008, the House Ways and Means Committee approved SB 87, a measure originally sponsored by Senator Buddy Shaw and now backed by Governor Bobby Jindal. The…
Over the past few months, a strong consensus appears to have developed here in Massachusetts, a consensus that the Commonwealth should put a stop to tax avoidance by large and…
The tax plan approved by the Maryland General Assembly on Monday will help provide the revenue necessary to fund vital public services in Maryland, but, according to the latest analysis…
A new analysis of the tax legislation approved by the Senate Budget and Taxation Committee on Tuesday shows that the Senate’s tax changes would impose the largest tax hikes, as…
My testimony today focuses on the sales tax legislation included in the Tax Reform Act of 2007. In particular, my testimony will discuss the impact of the bill’s expansion of…
My testimony today focuses on the proposed changes to Maryland’s personal income tax put forward by Governor O’Malley and the impact that those changes would have on Marylanders at different…
My testimony examines a problem facing not just Maryland, but a number of different states – the erosion of the corporate income tax and the related emergence of profitable “zero-tax…
Early in the 2007 legislative session Missouri Governor Matt Blunt and House Speaker Rod Jetton made eliminating the state’s personal income tax on Social Security benefits a priority. In May,…
Over the past few years, a number of states, seeking to address longstanding flaws in their corporate income taxes and significant declines in the revenue they yield, have instituted a…
My testimony today focuses on the revenue-raising tax reform bill, House Bill 750 and Illinois’ current tax structure. In particular, my testimony will discuss the state’s current tax structure and…