Utah

In a year of cautious uncertainty around current and ongoing revenues, many state lawmakers strengthened their tax credits for families and children.

This year several states raised income tax rates on high-income people to fund crucial services and make progress toward remedying the regressive tilt of their tax codes.

ITEP’s report on taxing advertising identifies some reasons why states are curtailing longstanding sales tax exemptions for the ad sector.

An advertising tax offers a way to raise significant money from a sector of the economy that has been getting a free ride for decades.

Most states questionably exempt advertising from sales taxes. States that extend their sales taxes to advertising and/or enact an excise tax stand to raise billions in revenue while correcting a structural bias in their tax codes that implicitly subsidizes some of the most profitable corporations in human history.

In Washington, Gov. Bob Ferguson and lawmakers decided to stop fooling around with one of the nation’s most upside-down tax codes and finally brought to life a new millionaires’ tax, the first new income tax created in a state since 1991.

As states lawmakers continue to weigh their linkages to the federal tax code in light of the recent federal tax law, New Mexico provides a blueprint for limiting multinational corporate tax avoidance.

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 […]

National Sausage Month isn’t until October, but now is the time of year when state lawmakers are really diving into their sausage-making processes, as separate legislative houses and oftentimes political parties send competing bills, budgets, and visions back and forth to grind out their differences.