Corporate Taxes

A year after Elon Musk’s Department of Government Efficiency (DOGE) cut a swath of destruction through vital federal agencies including the Internal Revenue Service, Musk’s apparent antipathy toward the IRS suddenly makes more sense.  

As we head into summer, many state legislatures are in the final stretches of their sessions. Rhode Island moved another step closer to joining the ranks of Washington, Maine, and Hawai’i in enacting a new high-income surcharge this year.

ITEP’s report on taxing advertising identifies some reasons why states are curtailing longstanding sales tax exemptions for the ad sector.

As rising costs strain our community and household budgets, Philadelphia Mayor Cherelle Parker’s proposed taxes attempted to patch gaping holes with meager solutions.

We estimate that by 2032, QSBS will be costing states $1.1 billion a year, and since states must balance their budgets, that’s money they can’t use for public services.

An advertising tax offers a way to raise significant money from a sector of the economy that has been getting a free ride for decades.

A veritable superbloom of tax and budget policies occurred over these last few weeks, including both flowers worth admiring and weeds worth fighting back.

North Carolina’s corporate tax cuts aren’t an incentive for economic growth. They’re a windfall for multinational companies that happen to sell into our state, regardless of whether they’ve made any meaningful investments here or not.

The oil and gas industry has long been known for widespread tax avoidance. Now, thanks to new disclosure rules, we have a better picture of how this occurs.

Amazon received $17.5 billion in tax subsidies in 2025. That’s about 10% of all federal income tax subsidies for publicly traded corporations in 2025.

The Institute on Taxation and Economic Policy (ITEP) hosted a press briefing to discuss how federal lawmakers can build a resilient and progressive corporate income tax system. The briefing is tied to the release of ITEP’s new report, A Resilient Framework for Corporate Tax Reform.

Corporate tax reforms should be the backbone of any progressive tax agenda and should be counted on to remain if other changes to our tax code are later thwarted by any of the three branches of government.

The next time Congress is serious about making the wealthiest pay their fair share in federal taxes, they will need to make three key changes to the federal corporate income tax so that it applies effectively to all the businesses that generate their income.

Most states questionably exempt advertising from sales taxes. States that extend their sales taxes to advertising and/or enact an excise tax stand to raise billions in revenue while correcting a structural bias in their tax codes that implicitly subsidizes some of the most profitable corporations in human history.

The effects of last year’s federal tax and spending cuts continue to ripple through the states. With gas prices soaring due to the Iran war, some states are attempting to provide a bit of relief in the form of gas tax reductions and suspensions.

Both companies acknowledge that they will save billions because of the Trump administration's weakening of the Corporate Alternative Minimum Tax (CAMT). Meta and Qualcomm are just two of the corporations that will benefit from this corporate tax cut provided unilaterally by the Trump's Treasury Department.

This week Hawaiʻi lawmakers reached a compromise to balance the state budget and maintain tax cuts for most residents by, in part, raising rates on the richest Hawaiians. Other states are working to generate revenue from their wealthiest residents, too.

Bezos' hand-picked editorial board argues that our tax code does not need to be more progressive because the share of federal income tax paid by the rich already exceeds their share of income. This is grossly misleading for at least two reasons.

When confronted with the completely accurate observation that their own annual reports disclose an estimated current federal income tax expense of zero on current-year income, the companies will desperately point to something else entirely.

Missouri lawmakers passed legislation that will have residents vote on a proposal at the ballot box. The ask: for them to pay more in sales taxes to offset cuts – and the possible elimination – of the state's individual income tax, which makes up nearly two-thirds of Missouri’s general fund.

States continue to debate whether and how to link their state tax codes to the 2025 federal tax law. This is not just a technical debate.

Yesterday was Tax Day, and with many state legislative sessions wrapping, some tax changes are gearing up or crossing over the finish line.

Tax cuts are looming large on the horizon in North Carolina. So large, in fact, that even some traditionally anti-tax voices are starting to get nervous.

At least 88 of the largest corporations in America paid $0 in federal income tax for 2025. Corporate tax avoidance has increased at least in part due to President Trump's “One Big Beautiful Bill Act” and the 2017 Tax Cuts and Jobs Act.

State legislative sessions are wrapping up, and final tax and budget packages are making their way to governors’ desks.