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Semiconductor giant Nvidia reported avoiding $6.8 billion in federal income taxes last year. The company did this in a year when it reported greater earnings growth than almost any corporation in history, with U.S. pretax income coming in at an astonishing $123 billion.

the fast-food multinational that owns KFC, Taco Bell, and Pizza Hut reported this week that it made $1 billion of pretax profits in the U.S. last year—and didn’t pay a dime of federal income taxes on those profits.

As a result of the tax policies approved by President Trump and the Republican majority in Congress, all but the richest Americans are paying higher taxes on average in 2026 than they did last year.

The company paid zero federal income tax in 2025 despite reporting $145 million of U.S. profits.

Palantir reported $1.5 billion of U.S. income but paid exactly zero federal income tax in 2025. Despite explosive growth, tax breaks from the Trump tax law helped Palantir avoid paying even a dime of federal income tax on its earnings.

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.

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

Federal lawmakers passed a bill along party lines that would force the District of Columbia to override the decision of local elected officials and implement all of the costly and inequitable federal tax cuts passed under the “One Big Beautiful Bill Act” (OBBBA).

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).

Her timely book, The Second Estate: How the Tax Code Made an American Aristocracy, walks readers through federal tax policy history and the modern-day legal maneuvers the wealthy use to pay little to no taxes

Most states are adopting a very cautious approach so far this year as legislators begin their sessions and governors make their annual addresses, thanks to ongoing economic uncertainty and federal retrenchment.

They should take steps to protect and boost their own revenues. And they should take a second look at their own tax cuts.

State governors are beginning to lay out their top priorities as legislatures reconvene in statehouses around the country.

This provision in last summer’s tax law could actually make budget-balancing a little bit easier for states if they follow suit.

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 […]

It’s wildly inappropriate for a U.S. Treasury Secretary to lean on states to adopt or not adopt specific federal provisions in their own state tax codes.

The 2025 federal tax law risks making 529 plans more costly for states by increasing tax avoidance and allowing wealthy families to use these funds for private and religious K-12 schools.

Trump's Treasury is overstepping far beyond its constitutional role by giving unlegislated tax cuts to the wealthy.

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

Many lawmakers who were vocal supporters of this bill will see direct personal benefits while most of their constituents benefit little or will be worse off.

President Trump’s massive tax-and-spending bill continues the administration’s assault on racial and economic justice by prioritizing tax breaks for the top 1% while neglecting the economic well-being of poor and working families of all races, especially people of color.

States should decouple from the federal Qualified Small Business Stock (QSBS) exemption.