Recent Work

Amidst Soaring Tech Earnings, Meta and Qualcomm Disclose a $13.7 Billion Tax Gift from Trump Administration

April 30, 2026 • By Matthew Gardner

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.

State Rundown 4/30: Aloha to Tax Cuts, Hawaiʻi Lawmakers Address Revenue Gap with High-End Tax Changes

April 30, 2026 • By ITEP Staff

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.

The Washington Post Is Wrong: Many Rich Americans Are Not Paying Their Fair Share

April 30, 2026 • By Jessica Vela

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.

The Big Corporations That Avoided All Federal Income Taxes on Their 2025 U.S. Profits Would Like Us All to Please Just Look at That Squirrel Over There

April 24, 2026 • By Matthew Gardner

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.

State Rundown 4/23: While Some States Stop Digging, Others Move Full Steam Ahead with Anti-Affordability Agendas

April 23, 2026 • By ITEP Staff

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.

The Next Illegal, Costly Tax Cut for the Rich: Indexing Capital Gains

April 21, 2026 • By Steve Wamhoff

Proposals to index taxes on capital gains for inflation would overwhelmingly benefit the richest 1 percent and increase the deficit by nearly $1 trillion over a decade.

While States Debate New Trump Tax Changes, Equity Must Be at the Core

April 20, 2026 • By Brakeyshia Samms

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.

State Rundown 4/16: Tax Day, a New Millionaires’ Tax and Late Blooming State Tax Action

April 16, 2026 • By ITEP Staff

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

Tax Break for Ultra-wealthy Investors Takes a Hit in Maine and Oregon

April 15, 2026 • By Nick Johnson

Policymakers in Maine and Oregon wisely said “no” last week to an income tax break for deep-pocketed tech investors and venture capitalists that was expanded in last year’s federal tax bill.

Maine Passes Millionaires’ Tax and Pushes Back on Federal Changes

April 14, 2026 • By Marco Guzman

Maine Gov. Janet Mills on Friday put her seal of approval on a supplemental budget bill that includes a “millionaires’ tax.”

North Carolina, Pushing Tax Cuts on Three Fronts, Risks a Repeat of Kansas Debacle

April 14, 2026 • By Carl Davis

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 Profitable U.S. Corporations Paid Zero Federal Income Tax in 2025

April 14, 2026 • By Matthew Gardner, Spandan Marasini

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 Rundown 4/8: Budget and Tax Packages Take Shape as Sine Die Approaches in Many States

April 8, 2026 • By ITEP Staff

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

Despite Any Refunds, You’re Probably Paying More Taxes Under Trump While Richest Pay Less

April 8, 2026 • By Steve Wamhoff

For a large majority of Americans, the tax increase resulting from Trump’s tariffs, along with the ending of the health care tax credits, more than offsets any tax cuts provided by OBBBA. The exception is the richest 5 percent of Americans, for whom the net result is a tax cut on average.

State Tax Watch 2026

April 8, 2026 • By ITEP Staff

ITEP tracks tax discussions in legislatures across the country and uses our unique data capacity to analyze the revenue, distributional, and racial and ethnic impacts of many of these proposals. State Tax Watch offers the latest news and movement from each state.