Corporate Taxes
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map February 21, 2025 Corporate Income Tax Filing Methods: States with Water’s Edge or Worldwide Combined Reporting
The purpose of state corporate income taxes is to tax the profit, or net income, an incorporated business earns in each state. Ascertaining the state where profits are earned is,… -
report February 20, 2025 A Revenue Analysis of Worldwide Combined Reporting in the States
Universal adoption of mandatory worldwide combined reporting would boost state corporate income tax revenues by roughly 14 percent. Thirty-eight states and the District of Columbia would experience revenue increases totaling $19.1 billion.
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blog February 11, 2025 The Five Biggest Corporations Represented at Trump’s Inauguration Could Save $75 Billion from One Tax Break Before Congress
New financial reports indicate five of America’s biggest corporations—Alphabet, Amazon, Apple, Meta, and Tesla—could win $75 billion in tax breaks if Congress and the President satisfy demands from corporate lobbyists to reinstate a provision repealed under the 2017 Trump tax law.
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blog January 29, 2025 Trump and Congress’ Tax Package Likely to Worsen Racial Inequities
While the country transitions to a new, yet familiar, presidential administration, lawmakers must keep in mind: fighting racial injustice should still be one of the focal points of this year’s tax debates. In theory, the debate over extending much of 2017’s Trump tax law represents an opportunity to advance racial equity. In practice, the tax package is likely to do the opposite, worsening racial inequities that already exist.
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brief December 12, 2024 Federal Tax Debate 2025
Congress will soon debate provisions from the Trump tax law that are set to expire at the end of 2025, as well as other tax policies that Trump proposed on the campaign trail. Here we examine what’s at stake as lawmakers consider significant changes to our tax system.
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blog October 23, 2024 How Would the Harris and Trump Tax Plans Affect Different Income Groups?
Presidential candidates Kamala Harris and Donald Trump have put forward a wide range of different tax proposals during this year’s campaign. We have now fully analyzed the distributional impacts of the major proposals of both Vice President Harris and former President Trump in separate analyses. In all, the tax proposals announced by Harris would, on average, lead to a tax cut for all income groups except the richest 1 percent of Americans, while the proposals announced by Trump would, on average, lead to a tax increase for all income groups except the richest 5 percent of Americans.