Rhode Island

We estimate that by 2032, QSBS will be costing states $1.1 billion a year, and since states must balance their budgets, that’s money they can’t use for public services.

A veritable superbloom of tax and budget policies occurred over these last few weeks, including both flowers worth admiring and weeds worth fighting back.

Second home taxes make a lot of sense for communities struggling with housing costs for full-time residents. They can raise real revenues too, which can be used to support further affordable housing development.

From surcharges on the income of high-earners to higher taxes on second homes, here are recent steps states have taken to tax the rich.

As many legislative sessions end, lawmakers are revealing their priorities.

Washington is on its way to making history after the legislature approved the “millionaires’ tax,” a 9.9 percent tax on income over $1 million. The bill, which is expected to raise more than $3 billion a year, making significant investments in public education and childcare, will also expand the Working Families Tax Credit – the […]

The results are a mixed bag, with some states enacting promising policies that will improve tax equity and others going in the opposite direction.

The findings demonstrate that tax changes over the past two decades—including the introduction and reduction of the flat tax and the shift from a five-bracket system with a top rate of 9.90 percent to today’s three-bracket system with a top rate of 5.99 percent—have disproportionately benefited the highest-income filers while steadily draining state revenue. The […]

Most states are adopting a very cautious approach so far this year as legislators begin their sessions and governors make their annual addresses, thanks to ongoing economic uncertainty and federal retrenchment.