Corporate Taxes

Including NCTI in state corporate tax law is an effective way to neutralize much of the tax avoidance that occurs when multinational companies artificially shift their profits into overseas tax havens.

While some may be excited for a romantic Valentine’s Day this weekend, many state lawmakers are breaking up and decoupling from recent federal tax changes that are poised to leave states with revenue shortfalls – much like a bad date who forgets their wallet and asks you to pick up the tab.

This unilateral corporate tax cut from the Trump administration will cost $10 billion over a decade unless it is reversed.

The results are a mixed bag, with some states enacting promising policies that will improve tax equity and others going in the opposite direction.

Four of the corporations whose CEOs flanked President Trump at his 2025 inauguration ceremony have now disclosed that they collectively received $51 billion in federal tax breaks in 2025, much of that likely from the One Big Beautiful Bill Act (OBBBA).

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.

As tax filing season begins, families have fewer options than last year, thanks to the heavy lobbying efforts of big tax-preparation corporations like Intuit (the parent company of TurboTax).

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.

While this guidance is sorely needed to clean up the mess created by a hasty Congress, these notices stand in sharp contrast to the deregulatory, anti-tax approach that the Treasury Department has taken.

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. These four key policy reforms would greatly strengthen the corporate tax system: Eliminating or restricting special breaks and loopholes that […]

Corporations have publicly revealed that they are passing the cost of tariffs on to Americans—the opposite of what the executive branch has said is happening.

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 governments are rushing to offer billions of dollars in subsidies to data center construction, apparently without understanding their full costs.

Meta’s earnings setback is entirely attributable to an important tax reform championed by the Biden administration in 2022.

Since 2017, these companies paid $135 billion in income taxes to foreign governments, but just $29 billion to the U.S.

States should immediately decouple from four costly corporate tax provisions in the new federal tax law.

Corporate income taxes for the fiscal year that ended in September are $77 billion lower than in the previous year, a 15 percent drop.

If Coca-Cola only pays 3% of the $18 billion tax bill it's facing, then the rest of us will have to pick up the remaining 97%. 

The IRS's capacity to prevent big multinational corporations from avoiding income taxes is facing a generational crisis.

What currently stands in the way of better corporate tax transparency.

A drafting error in the 2017 tax law will cost U.S. taxpayers over $1 billion in unintended tax cuts for big multinationals.

The appropriations plan released by House Republicans this weekend threatens to withhold funding for an obscure but vital financial oversight board because that board now requires corporations to disclose basic information about their income tax payments (or lack thereof).

This country’s biggest historical challenge has been delivering this progress to all Americans, but Republicans have cut it back for everyone, retreating from many 20th century achievements in ways that will slam doors, rather than opening them, for the next generation.