Nevada
Cannabis Taxes Outraised Alcohol by 20 Percent in States with Legal Sales Last Year
• By Carl Davis
In 2021, the 11 states that allowed legal sales within their borders raised nearly $3 billion in cannabis excise tax revenue, an increase of 33 percent compared to a year earlier. While the tax remains a small part of state budgets, it’s beginning to eclipse other “sin taxes” that states have long had on the books.
State Rundown 3/16: The Scramble to Curb Rising Gas Prices is On
• By ITEP Staff
Rising gas prices have lawmakers around the country searching for ways to ease the pressure on consumers and almost half the states are considering reducing or temporarily repealing their gas tax, but another idea is taking hold...
State Rundown 3/2: State Tax News When You Need It
• By ITEP Staff
ITEP is happy to announce the launch of our new State Tax Watch page, where you can find out about the most up-to-date tax proposals and permanent legislative changes happening across the country...
State Rundown 2/10: Dems Also Set Sights on Tax Cuts
• By ITEP Staff
While record state revenue surpluses have led to big pushes in red states to make unnecessary permanent income and corporate tax cuts, Democrats are also getting in on the tax-cut mania...
State Rundown 2/2: The First Tax Cut Domino Falls…
• By ITEP Staff
One-time payments have become a common theme around the country, as Idaho is one of roughly eleven states with plans to provide tax relief in a similar fashion...
State Rundown 10/27: Pumpkin Spice & Everything Nice
• By ITEP Staff
The end of Spooky Season is near but that hasn’t stopped state lawmakers from adding their frightening plans into the bubbling cauldron of bad tax policy ideas...
State Rundown 10/13: Haven Sent Edition
• By ITEP Staff
The release of the ‘Pandora Papers’ showed once again that states and their tax systems play an important role in wealth inequality, and in this case, worsening it...
State Rundown 9/1: Labor Day Edition
• By ITEP Staff
Labor Day is around the corner and in the spirit of celebrating the achievements of workers around the country, we here at ITEP want to call attention to the states (and territories) that are using tax policy to support workers and residents alike...
State Rundown 7/7: The New Fiscal Year Starts off With a Bang, And Not Just Fireworks
• By ITEP Staff
States were busy over the past week despite the Fourth of July holiday. Many are gearing up for upcoming tax and budget clashes that could shape their futures for some time...
State Rundown 6/30: Resolutions Are in Order for the New Fiscal Year
• By ITEP Staff
Today is the last day of the fiscal year in many states, and some lawmakers might want to take the opportunity to make some new fiscal year resolutions. Legislators in Arizona, New Hampshire, Ohio, North Carolina, and Wisconsin, for example, should really cut back on the trickle-down tax-cut Kool-Aid, which may make parties with rich donors more fun but tends to be both harmful and habit-forming...
State Rundown 5/20: You Learn Something New Every Tax Day
• By ITEP Staff
“Tax Day” was earlier this week but the debates, research, and advocacy that determine our taxes and how they are used take place every day of the year...
Effects of the President’s Capital Gains and Dividends Tax Proposals by State
• By ITEP Staff, Matthew Gardner, Steve Wamhoff
President Biden’s proposal to eliminate the lower income tax rate on capital gains (profits from selling assets) and stock dividends for millionaires would affect less than half of one percent (0.4 percent) of U.S. taxpayers if it goes into effect in 2022. The share of taxpayers affected would be less than 1 percent in every state.
State Rundown 4/29: How You Like Them Washington Apples?
• By ITEP Staff
North Carolina lawmakers may have approved a massive tax subsidy giveaway to Apple, but we won’t let that news spoil our barrel this week. Nor will we be discouraged by Connecticut Gov. Ned Lamont’s threats to upset the apple cart full of positive progressive tax reforms state lawmakers recently came together to approve...Why all the optimism? Because the apple of our eye this week is Washington State, where advocates and lawmakers succeeded in a decade-long…
State Rundown 4/14: More Progressive Wins in the Headlines this Week, but Mind the Fine Print
• By ITEP Staff
Two significant victories headlined state tax debates in the past week, as New Mexico leaders improved existing targeted tax credits to give bigger boosts and reach more families in need, and West Virginia lawmakers unanimously shut down a destructive effort to eliminate the state’s progressive income tax. These developments follow last week’s major wins for progressive taxation and targeted assistance in New York, and more good news is likely soon as Washington legislators continue to…
State Rundown 4/1: Most States Resisting Foolish Tax Cut Games That Tear Revenues Apart
• By ITEP Staff
Supporters of tax fairness and adequate funding for public needs are hoping West Virginia’s income tax elimination effort turns out to be a prank, but most states are not fooling around with such harmful policies this year. For example...
State and Local Cannabis Tax Revenue Jumps 58%, Surpassing $3 Billion in 2020
• By Carl Davis
Cannabis taxes are a small part of state and local budgets, clocking in at less than 2 percent of tax revenue in the states with legal adult-use sales. But they’re also one of states’ fastest-growing revenue sources. Powered by an expanding legal market and a pandemic-driven boost in cannabis use, excise and sales taxes on […]
State Rundown 3/4: Progressive Tax Proposals Steal the Show
• By ITEP Staff
Although lawmakers in some states continue to push for expensive and regressive tax cuts that would primarily benefit wealthy households, worsen economic and racial injustices, and undermine funding for key public services, this week’s state fiscal news is dominated by efforts to do the opposite. Leaders in the District of Columbia, Maine, Nebraska, New York, Washington, and Wyoming made recent headlines by advocating for policies that improve on upside-down tax codes and generate needed funding…
Marketplace: High-income taxpayers help some states stay above water
March 1, 2021
However, in 22 states, tax revenue actually increased, with revenue in four states — Idaho, Utah, South Dakota and Colorado — up more than 5%. Revenue fell in the remaining states, with seven down more than 10% —Texas, Oregon, Florida, Nevada, North Dakota, Hawaii and Alaska. This disparity has a lot to do with the […]
State Rundown 2/4: Some Lawmakers, Governors Rising to Occasion with Progressive Tax Proposals
• By ITEP Staff
States face shifting landscapes as they attempt to deal with both emergent and longstanding issues in their tax codes and budget structures. This is particularly evident in Oklahoma, where lawmakers must adjust to a U.S. Supreme Court decision that literally redraws state boundaries by recognizing the rights of indigenous communities, but is true in every state, and lawmakers in many of them are rising to the challenge. Read below and see our blog posted today…
Nevada Current: NV can have a job-creating energy agenda, unless it costs money
February 2, 2021
The bottom 20 percent of Nevadans with an income of less than $20,500 pay 10.2 percent of their daily income in taxes, including 7 percent in sales tax, according to the Institute on Taxation and Economic Policy. However, Nevadans with an income of $473,600 or higher only pay about 2 percent share of their household […]
State Rundown 1/28: EITC Efforts a Welcome Contrast to State Tax Tug-of-War
• By ITEP Staff
Efforts to deliver and improve targeted tax credits to support low- and middle-income families proved to be unifying in Washington and Oregon, welcome developments in an otherwise divisive week in state tax debates. For example, Mississippi advocates hoping to end the state’s regressive grocery tax are up against a governor and many lawmakers pulling in the opposite direction by trying to eliminate its income tax. After Arizona residents approved an income tax increase to improve…
State Rundown 1/22: Somewhere Between a Flurry and a Blizzard of State Tax Activity So Far
• By ITEP Staff
You won’t find any images of Bernie Sanders and his mittens photoshopped into this week’s Rundown, but you will find the latest news on state fiscal debates, including proposals to generate needed funding by raising taxes on high-income households and profiting businesses in California, Delaware, Hawaii, Maryland, and Washington, as well as misguided efforts to slash taxes in Arizona, Iowa, South Carolina, Utah, and West Virginia. Also in the news are thoughtful improvements to targeted…
State Rundown 1/14: Bad Tax Cut Ideas Prove to Be Endemic
• By ITEP Staff
As states kick off their 2021 legislative sessions, it’s clear that many governors and lawmakers are attempting to “take a mulligan” on the last year and recycle tax-slashing ideas that were already bad in 2020 and are even worse now as states try to recover from the Covid-19 pandemic and accompanying downturn...On a brighter note, Illinois leaders showed they did learn from the events of 2020, passing a major criminal justice reform bill and payday…
Ghosts of Fiscal Crunches Past, Present, Future Have Advice for State Lawmakers
• By Dylan Grundman O'Neill
State policymakers and advocates may face some long sleepless nights as they close the book on 2020 and prepare for the important decisions they’ll be making in 2021 and beyond. So we at ITEP have consulted with ghosts of fiscal crunches past, present, and future, and distilled their lessons into seven key things to keep in mind for 2021 tax and budget debates:
State Rundown 12/17: New and Old State Tax Debates Await in 2021
• By ITEP Staff
Our last Rundown of 2020 includes news of yet another misguided proposal to eliminate a state income tax, this time in Arkansas. Florida and Missouri, on the other hand, are looking to modernize their tax codes by becoming the last two states to enforce their own sales taxes on online retailers. Leaders in Maryland and Oregon, meanwhile, are working to decouple the state from unnecessary and regressive tax cuts included in the federal CARES Act.…
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