Citations
6,242 posts
North Carolina Justice Center: BTC POLICY BASIC: Marginal versus Effective Personal Income Tax Rates
• By ITEP Staff
A great deal of confusion abounds in discussions about state personal income tax rates and how they apply to income. This policy basic clarifies the difference between marginal and effective tax rates, and gives a North Carolina-specific example of how these rates work in action. Read more here
North Carolina Justice Center: Still walking the path to zero: The Senate tax plan will harm North Carolina’s goal of building a stronger, inclusive economy
• By ITEP Staff
Senate leaders continue to pursue reductions to the income tax rate for wealthy taxpayers and profitable corporations even as they claim to be focused on helping low- and moderate-income taxpayers. This year they will do so without proposing immediate replacement of the revenue with sales-tax base expansions. The result is a loss of nearly $1 […]
Montana Budget & Policy Center: Capital Gains Tax Credit Valuing Wealth Over Work in Montana
• By ITEP Staff
In 2003, the Montana Legislature passed a capital gains tax credit that benefits a very narrow portion of our population at the great expense of our collective ability to adequately invest in public programs, from education to health care. Currently, Montana is one of just nine states offering a significant tax break for capital gains […]
Kansas Center for Economic Growth: A Flat Tax Would Only Worsen Kansas’ Budget Crisis
• By ITEP Staff
Governor Sam Brownback’s 2012 plan to phase out the state income tax created an unprecedented fiscal crisis for Kansas. Some options presented for addressing this crisis would “flatten” Kansas’ income tax and require all Kansans to pay the same income tax rate, regardless of how much they earn. Read more here
The Half Sheet: You Can’t Cut Your Way to Prosperity
• By ITEP Staff
Virginia’s tax system is upside down. Regular Virginians pay a higher share of their income in state and local taxes than the wealthy and powerful. An array of recently proposed schemes to give new handouts to the wealthy and powerful would make it even more unfair. Virginians can’t afford that. As part of our work […]
CBS MoneyWatch: Meet the 18 profitable companies that paid no taxes over 8 years
March 13, 2017
President Donald Trump and the GOP leadership have vowed to reduce U.S. corporate taxes, arguing that the statutory 35 percent rate is far too high. But thanks to loopholes and tax-minimization strategies, few large, profitable corporations actually pay that rate. Among the roughly half of Fortune 500 companies that were consistently profitable between 2008 and […]
The Huffington Post: The Country That Everyone Used To Know
March 13, 2017
Trump either cannot distinguish facts or he doesn’t care. He says crime is up when crime is down. He says, “I’m the least racist person there is,” then bans Muslims from entering the country. Do we even know how this will affect the economy? Undocumented immigrants currently contribute $11 billion in taxes each year, according […]
Alaska Dispatch News: How billion-dollar companies paid nothing in taxes
March 13, 2017
Although the top corporate rate is 35 percent, hardly any company actually pays that. The report, by the Institute on Taxation and Economic Policy, a left-leaning research group in Washington, found that 100 of them — nearly 40 percent — paid no taxes in at least one year between 2008 and 2015. Eighteen, including General […]
The Herald: Democrats, give us a reason to vote for you
March 13, 2017
The Institute on Taxation and Economic Policy says we have the most regressive tax system (harder on lower incomes) in the nation, and Democratic leaders in this state are determined to add to that tax burden. Read more
Boston Business Journal: Five things you need to know today, and a rough run for retail
March 13, 2017
With the corporate tax rate getting more attention under a Trump presidency than ever before, here’s a story for you: Eighteen companies — including two based in Massachusetts— paid no federal income tax from 2008 to 2015, despite earning pretax profits of nearly $178 billion over that time, according to a new study from the […]
Idaho Statesman: Unauthorized immigrants in Idaho pay millions in state and local taxes, report says Read more here: http://www.idahostatesman.com/news/state/idaho/article137452418.html#storylink=cpy
March 13, 2017
Unauthorized immigrants living and working in Idaho pay an estimated $28.6 million annually in state and local taxes, according to a new report by a Washington, D.C.-based think tank. They contributed $2.8 million in individual income taxes, $8.8 million in property taxes, and $17 million in sales and excise taxes to the state in 2015, […]
Cincinnati Business Courier: P&G among biggest beneficiaries of tax breaks; here’s how other Cincinnati companies fared
March 13, 2017
P&G had an effective federal corporate tax rate of 22.3 percent, paying $14.9 billion in taxes on nearly $67 billion in U.S. profits over that eight-year period, according to the Institute on Taxation and Economic Policy. A spokesman for P&G didn’t immediately provide a comment to the Business Courier. The Institute on Taxation and Economic […]
CNBC: Shares of General Electric rise on report that Immelt could be ‘pushed into retirement’
March 13, 2017
An uptick in stock price comes as a report was issued Thursday by the Institute on Taxation and Economic Policy, a left-leaning research group in Washington, claiming that 100 corporations, including GE, paid no taxes in at least one year between 2008 and 2015. The report also says that GE incurred a total federal income […]
The Seattle Times: GE, Priceline among top corporations paying no income tax over last 8 years
March 13, 2017
Although the top corporate rate is 35 percent, hardly any company actually pays that. The report, by the Institute on Taxation and Economic Policy, a left-leaning research group in Washington, D.C., found that 100 of them — nearly 40 percent — paid no taxes in at least one year between 2008 and 2015. Read more
Washington Post: Undocumented and paying taxes, they seek a foothold in the American Dream
March 13, 2017
About half of undocumented immigrants file personal tax returns, channeling $1.1 billion to state coffers, according to the Institute on Taxation and Economic Policy. The IRS could not say how much ITIN filers paid in income taxes last year, but past federal reports have estimated that they pay billions of dollars in federal taxes over […]
The Columbian: Teachers, parents and legislators gather for school funding forum
March 13, 2017
Stonier said the state should look to raise more revenue. Heather Lindberg, an education activist who ran for the Vancouver School Board in 2015, said the state’s tax code is “completely upside down” in making the poor pay a greater percentage of their income than the wealthy. (A 2015 study by the nonpartisan Institute on […]
The Maui News: Undocumented immigrants on Maui are unsure of future
March 13, 2017
In the U.S., more than 60 percent of undocumented immigrants have lived in the country for more than a decade, according to a report by the Institute on Taxation and Economic Policy. Many are mixed-legal status families. They pay an estimated $11.74 billion a year in taxes and contribute to Social Security but never take […]
Quad City-Times: Embrace immigrant past, be welcoming community
March 13, 2017
Immigrants are more likely to start a business than native-born Americans and are particularly over-represented in Main Street business — retail, restaurants and neighborhood services — that are crucial to local economies. They also contribute to local tax bases. Even unauthorized immigrants paid $11.74 billion in state and local taxes in 2014 ($758 million just […]
Scranton Times-Tribune: Tax Season Just for Some
March 13, 2017
A new study by the Institute on Taxation and Economic Policy demonstrates that any reform must be in multiple directions, rather than in just reducing rates at the top. President Donald Trump and others often lament that the top corporate tax rate is too high at 35 percent. But the study found that massive tax […]
Washington Post: We Didn’t Think We Agreed on Undocumented Immigrants
March 13, 2017
In fact, undocumented residents in the United States pay an estimated $11.74 billion annually in state and local taxes, an amount that would increase significantly if these immigrants were given a pathway to citizenship, according to a new report from the Institute on Taxation and Economic Policy. Read more
Investopedia: How Fortune 500 Companies Avoid Paying Income Tax
March 13, 2017
The Institute on Taxation and Economic Policy (ITEP), in a recent study, found that over the eight-year period from 2008 to 2015, 258 profitable Fortune 500 companies paid an average effective federal income tax rate of 21.2%. Over that same period, exactly 18 companies, including General Electric, International Paper, Priceline.com and PG&E Corp., avoided paying […]
CNBC: Business taxes may sound high, but these companies pay a lot less
March 13, 2017
The U.S. corporate tax rate may be 35 percent, but most companies end up paying far less after accounting for specific tax breaks. Some, like utilities, gas and electric companies, paid only 3.1 percent in taxes on their domestic income over the last eight years, according to an updated study released this week by the […]
CNBC: Tax policy expert: The 35% corporate rate is a myth, so cutting it won’t bring overseas money back
March 13, 2017
Don’t expect big companies to bring profits back from overseas in response to a U.S. corporate tax cut, said Matthew Gardner of the Institute on Taxation and Economic Policy. The lead author of a new report titled “The 35 Percent Corporate Tax Myth” told CNBC on Friday that scores of profitable Fortune 500 companies had, […]
The 35 Percent Corporate Tax Rate Is a Myth for Many Profitable Companies
March 9, 2017
258 Fortune 500 Companies Were Consistently Profitable Over an 18-Year Period and Paid a 21.2 Percent Average Effective Tax Rate A comprehensive, eight-year study of profitable Fortune 500 corporations finds that, on average, the nation’s richest firms paid a 21.2 percent effective tax rate between 2008 and 2015, but a significant number (100) managed to […]
Connecticut Voices for Children: Testimony Regarding S.B. No. 787 – AAC Revenue Items To Implement the Governor’s Budget
• By ITEP Staff
At Connecticut Voices for Children, we view the state budget as the clearest statement of Connecticut’s policy priorities. We believe that these priorities should advance long-term inclusive economic prosperity, equity of opportunity, and support for our most vulnerable residents. We believe that an effective revenue system can advance these core priorities by adhering to five […]
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
Subscribe to ITEP Emails
Tax research and policy news in your inbox.
Promote Fair Tax Policy
Your gift to ITEP promotes tax justice. With your help, we do research that supports taxing millionaires and billionaires, taxing big corporations and raising revenue for the things our people, our communities and our planet need.
Together, we can create a country with more economic justice, more racial justice, more climate justice… and more tax justice.