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blog
June 10, 2022
Rising Prices: Another Reason to Be Wary of Tax Cutting Right Now
Many state lawmakers see any economic challenge as an excuse to cut taxes and in 2022, some are citing inflation as a reason to do… -
blog
June 8, 2022
State Rundown 6/8: Tax Policy Features Prominently During Budget and Primary Season
As voters head to the polls to weigh in on their state’s primary elections and legislators convene to hash out budget deals, tax policy remains atop the agenda…
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blog
May 25, 2022
State Rundown 5/25: Tax Discussions Heating Up as Summer Begins
While the temperature ticks up outside, the temperature in state legislatures around the country has fallen slightly. But with several states still dealing with ongoing tax and budget issues, this summer could be a hot one…
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blog
May 11, 2022
State Rundown 5/11: Mid-Year Special Elections and Primary Season Kicks Off with Taxes in the Spotlight
As 2022 inches closer to its midpoint, important tax policy decisions are being put in the hands of voters, as special elections and the primary season begin…
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blog
May 6, 2022
Most Senate Democrats Join Republicans in Calling for Corporate Tax Break
The vast majority of Senate Democrats joined their Republican colleagues in approving a new corporate tax break related to research in legislation that contains no offsetting corporate tax increases.
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blog
April 27, 2022
State Rundown 4/27: States Remain Active on the Tax Front
While tax discussions among federal lawmakers continue in fits and starts, major tax news continues to make waves across the nation…
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report
April 26, 2022
Revenue-Raising Proposals in President Biden’s Fiscal Year 2023 Budget Plan
President Biden’s latest budget plan includes proposals that would raise $2.5 trillion in new revenue. While many of these reforms appeared in his previous budget, some of them are brand new, such as his proposal to prevent basis-shifting in partnerships and his Billionaires Minimum Income Tax.
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blog
April 21, 2022
Biden’s Proposals Would Fix a Tax Code that Coddles Billionaires
Billionaires can afford to pay a larger share of their income in taxes than teachers, nurses and firefighters. But our tax code often allows them… -
blog
April 20, 2022
State Rundown 4/20: New Tax Changes in Full Bloom
This Spring looks to be bringing a mix of showers and flowers as states around the nation continue to act on a range of tax proposals…
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map
April 20, 2022
How Is Recreational Cannabis Taxed in Your State?
Eighteen states have legalized the sale of cannabis for general adult use and sales are already underway in 10 of those states. Every state allowing legal sales applies an excise tax to cannabis based on the product’s quantity, its price, or both. Quantity taxes are typically based on weight, though New York measures quantity by the amount of THC sold. ITEP research indicates that taxes based on quantity will be more sustainable over time because prices are widely expected to fall as the cannabis industry matures. Most states allowing for legal cannabis sales apply their general sales taxes to the product and local sales taxes also typically apply where such taxes exist.
