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2048 items
California: Who Pays? 7th Edition
January 8, 2024 • By ITEP Staff
California Download PDF All figures and charts show 2024 tax law in California, presented at 2023 income levels. Senior taxpayers are excluded for reasons detailed in the methodology. Our analysis includes nearly all (99.2 percent) state and local tax revenue collected in California. State and local tax shares of family income Top 20% Income Group […]
Arkansas: Who Pays? 7th Edition
January 8, 2024 • By ITEP Staff
Arkansas Download PDF All figures and charts show 2024 tax law in Arkansas, presented at 2023 income levels. Senior taxpayers are excluded for reasons detailed in the methodology. Our analysis includes nearly all (99.5 percent) state and local tax revenue collected in Arkansas. As seen in Appendix D, recent legislative changes have significantly increased the […]
State Rundown 1/4: New Year, New Opportunities, Same Tax Cut Proposals
January 4, 2024 • By ITEP Staff
The year may be new, but state lawmakers seem to have the same old resolution: slashing state income taxes...
Three states allow an unusual income tax deduction for federal income taxes paid. Missouri and Oregon limit these deductions by capping and/or phasing out the deduction, while Alabama, offers what amounts to an unlimited deduction. These deductions are detrimental to state income tax systems on many fronts, as they offer large benefits to high-income earners […]
Everything You Need to Know About Proposals to Better Tax Billionaires
December 21, 2023 • By Steve Wamhoff
Tax policy may not be on the minds of most Americans during the final weeks of 2023, but billionaires with an eye on their own tax bills have been riveted by developments in D.C.
Even as revenue collections slow in many states, some are starting the push for 2024 tax cuts early. For instance, policymakers in Georgia and Utah are already making the case for deeper income tax cuts. Meanwhile, Arizona lawmakers are now facing a significant deficit, the consequence of their recent top-heavy tax cuts. There is another […]
The Estate Tax is Irrelevant to More Than 99 Percent of Americans
December 7, 2023 • By Steve Wamhoff
The federal estate tax has reached historic lows. In 2019, only 8 of every 10,000 people who died left an estate large enough to trigger the tax. Legislative changes under presidents of both parties have increased the basic exemption from the estate tax over the past 20 years. This has cut the share of adults leaving behind taxable estates down from more than 2 percent to well under 1 percent.
With the Moore vs. United States Case, the Supreme Court Could Unleash Chaos on Our Tax System
December 1, 2023 • By Steve Wamhoff
On Tuesday, the U.S. Supreme Court will begin hearing oral arguments in Moore vs. United States, which could become the most important tax case in a century. A broad ruling could destabilize our tax system, enrich many profitable corporations, and widen existing economic and racial inequalities.
Though Turkey Day has passed, lawmakers in states across the U.S. have yet to get their fill of delicious tax policy goodness...
Hidden in Plain Sight: Race and Tax Policy in 2023 State Legislative Sessions
November 21, 2023 • By Brakeyshia Samms
Race was front and center in a lot of state policy debates this year, from battles over what’s being taught in schools to disagreements over new voting laws. Less visible, but also extremely important, were the racial implications of tax policy changes. What states accomplished this year – both good and bad – will acutely affect people and families of color.
The Latest Convoluted Arguments in Favor of Rich People Not Paying Taxes
November 13, 2023 • By Steve Wamhoff
Two Senate hearings last week focused on how the richest Americans are avoiding and evading taxes in ways that ordinary Americans could hardly imagine. All the experts brought in to testify seemed to agree that the House GOP’s recent tactic of “paying for” a spending proposal by cutting IRS funding makes no sense because it […]
States differ dramatically in how much they allow families to make choices about whether and when to have children and how much support they provide when families do. But there is a clear pattern: the states that compel childbirth spend less to help children once they are born.
Year-End Tax Package Must Prioritize Children and Families Over Corporations and Private Equity
November 8, 2023 • By Joe Hughes
While Congress considers extending expired tax provisions, it should first and foremost focus on expanding the Child Tax Credit, a policy with a proven track record of helping families and children.
State Rundown 11/8: Election Results Bring Victories, Opportunities for More Common-Sense Tax Reform
November 8, 2023 • By ITEP Staff
Voters had the chance to impact tax policy across the country on election day, and some chose to enact common-sense reforms to raise revenue...
Far From Radical: State Corporate Income Taxes Already Often Look Beyond the Water’s Edge
November 7, 2023 • By Carl Davis, Matthew Gardner
State lawmakers are increasingly interested in reforming their corporate tax bases to start from a comprehensive measure of worldwide profit. This provides a more accurate, and less gameable, starting point for calculating profits subject to state corporate tax. Mandating this kind of filing system, known as worldwide combined reporting (WWCR), would be transformative, as it would all but eliminate state corporate tax avoidance done through the artificial shifting of profits into low-tax countries.
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