States
435 posts
Latest IRS Data Reveal Fundamental Mismatches in the States
• By ITEP Staff
Data released late last week by the Internal Revenue Service (IRS) indicate that 10 states have greater concentrations of reported income among their very wealthiest residents than the country as a whole. Unfortunately, the tax systems in those ten states generally ignore that very important reality. Of those ten states: • four lack a broad-based […]
Combined Reporting – How Does Your State Stack Up?
• By ITEP Staff
Over the past few years, a number of states, seeking to address longstanding flaws in their corporate income taxes and significant declines in the revenue they yield, have instituted a major reform: combined reporting. Combined reporting requires multi-state corporations to report the income earned by both the parent corporation and all of its subsidiaries and […]
Why Large Corporations Can Do Business in Your State Tax-Free – The “Substantial Nexus” Test
• By ITEP Staff
The holiday season is in full swing — and chances are you’re buying gifts on the Internet or over the phone, from people you will never meet and companies that will never set foot in your state. These companies are clearly benefitting from services provided by your state government. They could not conduct their business […]
State Corporate Income Taxes 2001-2003
• By ITEP Staff
Last September, Citizens for Tax Justice and the Institute on Taxation and Economic Policy published Corporate Income Taxes in the Bush Years, an in-depth look at the taxes that 275 large, profitable corporations paid, or failed to pay, on their U.S. profits over the 2001-03 period. That study found that by 2003, these corporations were […]
Corporate Income Taxes in the Bush Years
• By ITEP Staff
This study details which companies have benefitted the most from the decline in corporate taxes over the past three years, and which have been less fortunate. It also measures the effects of loopholes in our corporate tax laws that predated the George W. Bush administration. Specifically, the study looks at the federal income taxes paid […]
The Effects of Replacing Most Federal Taxes with a National Sales Tax
• By ITEP Staff
Recently, there has been renewed discussion of the possibility of replacing most federal taxes with a national retail sales tax. Such an idea was broached in the 1990s, but political interest waned when it was discovered that it would take a sales-tax rate well in excess of 50 percent to replace existing federal revenues. In […]
Federal Taxation of Earnings Versus Investment Income in 2004
• By ITEP Staff
How do personal taxes on total investment income compare to taxes on earnings right now? This paper addresses that question. The analysis includes both the individual income tax, which applies in varying degrees to both earnings and investment income, and Social Security and Medicare taxes, which apply only to wages and selfemployment earnings. The central […]
Who Pays? A Distributional Analysis of the Tax Systems of All 50 States [2003 Edition]
• By ITEP Staff
State governments are facing a profound fiscal crisis. In the past year, states have grappled with mounting budgetary shortfalls, as tax revenues have slumped while spending pressures have continued to grow—and these problems will probably get even worse in the upcoming year. As state and local governments are forced to make hard decisions about how […]
Who Pays? A Distributional Analysis of the Tax Systems of All 50 States [1996 Edition]
• By ITEP Staff
This study looks at taxes paid by income group, as shares of income, for every state and the District of Columbia. Our primary finding is that by an overwhelming margin, most state and local tax systems take a greater share of income from middle- and low-income families than from the wealthy. That is to say, […]
The Hidden Entitlements
• By ITEP Staff
In short, while not all “tax expenditures” are evil, many of them undermine tax fairness, impede economic growth and divert scarce tax dollars away from better uses. If we hope to “reinvent government” to make it more effective and less burdensome—in short, a better deal for ordinary American families—then scaling back wasteful and pernicious tax […]
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