New York

Billionaires can afford to pay a larger share of their income in taxes than teachers, nurses and firefighters. But our tax code often allows them to pay less, as demonstrated by the latest expose from reporters at ProPublica using IRS data.    According to their calculations, Betsy DeVos, the Education Secretary under former President Donald Trump, […]

Eighteen states have legalized the sale of cannabis for general adult use and sales are already underway in 10 of those states. Every state allowing legal sales applies an excise tax to cannabis based on the product’s quantity, its price, or both. Quantity taxes are typically based on weight, though New York measures quantity by the amount of THC sold. ITEP research indicates that taxes based on quantity will be more sustainable over time because prices are widely expected to fall as the cannabis industry matures. Most states allowing for legal cannabis sales apply their general sales taxes to the…

Two prominent blue states made headlines this past week when they passed budget agreements that include relief for taxpayers, and fortunately, the budget plans don’t include costly tax cuts that primarily benefit the wealthy...

Last week we highlighted how several states were pushing through regressive tax cuts as their legislative sessions are coming to a close. Well, this week many of those same states took further actions on those bills and it’s safe to say we’re even less impressed than before...

The deck is stacked against those who have the least, and ongoing racism makes it even more difficult for people of color to avoid punitive systems that are intentionally structured to extract what, for poor people, can be usurious penalties. The nation collectively shrugs about such injustices because they are either invisible or we chalk up entanglements in any legal morass to personal behavior. But the truth is that, indirectly, we are all part of the fines-and-fees matrix that entraps poor people in debt or keeps them tethered to the criminal justice system. None of us should look away. 

Several states have dropped a few late-session surprises, and from the looks of it, they’re not the good kind...

The Biden administration has several options to address tax reform even when Congress is unable or unwilling to help.

Spring is around the corner and like those pesky allergies that come along with it, equally pesky tax proposals continue to pop up in states across the U.S....

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...

The avalanche of regressive tax-cut proposals coming out of state legislatures has not slowed over the course of the winter months, but one state has provided a shot of hope to advocates of tax equity...

A common theme is emerging out of states, as governors around the U.S. begin the year with their annual state speeches, and the news does not bode well for long-term growth and sustainable budgets...

As expected, with the start of many new legislative sessions around the country, lawmakers have introduced a slew of tax cut plans following better-than-expected budget outlooks that have, so far, weathered the impact of the pandemic...

The new year often brings with it a reinvigorated commitment to new goals and a fresh perspective on how to accomplish them, but it seems like lawmakers in states around the country are giving up already...

As the holiday season kicks into full gear, we’re putting the finishing touches on our State Tax Naughty or Nice list, and it looks like some late entrants are making a good case to be included...

If the bill becomes law, in 2022 federal taxes would go up for the average taxpayer among the richest one percent and down for the average taxpayer in other income groups.

ProPublica this year released multiple exposés revealing how the nation’s wealthiest individuals and families avoid taxes on an unimaginable scale. Most recently, it uncovered Republican and Democratic elected officials and political appointees who used complex strategies to avoid taxes.  Richard Painter, a White House ethics lawyer under George W. Bush, said these revelations should be “troubling […]

Covid-19 dramatically altered how and where many employees work, a shift that could have a long-term negative effect on commercial real estate occupancy rates and, ultimately, on local governments’ tax revenue base, a new study reveals.  The Impact of Work from Home on Commercial Property Values and the Property Tax in U.S. Cities concludes that even as the recovery strengthens, if […]

The fiscal implications of a decline in commercial property values are important because the property tax is the dominant local source of taxes, and commercial property makes up a significant portion of the property base in cities.

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...