Taxes

TCJA Interest Limitations Had Small Impact on Corporate Activity Skip to content Home • Blog • Treasury Finds TCJA Interest Limitations Had Small Impact on Corporate Activity A new working paper published by U.S. Treasury economists found that the interest limitations implemented under the 2017 TaxA tax is a mandatory payment or charge collected by

Proposed “Junk Fee” Rule Would Create Tax Headaches Skip to content Home • Blog • Proposed “Junk Fee” Rule Would Create Inadvertent Tax Headaches Sellers in some states could soon be simultaneously required and prohibited from publishing sales taxA sales tax is levied on retail sales of goods and services and, ideally, should apply to

2024 Sales Tax Rates: State & Local Sales Tax by State Skip to content Table of Contents Key Findings Forty-five states and the District of Columbia collect statewide sales taxes. Local sales taxes are collected in 38 states. In some cases, they can rival or even exceed state rates. The five states with the highest

2024 VAT Rates in Europe | EU VAT Rates, 2024 Skip to content Table of Contents More than 170 countries worldwide—including all major European countries —levy a value-added taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services,

Credit Union Tax Treatment: Details & Analysis | Tax Foundation Skip to content Table of Contents Key Findings Credit unions are taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. -exempt nonprofit financial institutions

House Bipartisan Tax Deal: 5 Key Facts | Tax Foundation Skip to content Home • Blog • Five Facts to Know about the Bipartisan Tax Deal The U.S. House of Representatives has passed a highly anticipated bipartisan tax deal. The TaxA tax is a mandatory payment or charge collected by local, state, and national governments

House GOP SALT Deduction Cap Proposal: Details & Analysis Skip to content Home • Blog • Latest SALT Deduction Cap Proposal Increases Budget Deficit, Creates New Tax Cliffs, and is Regressive Shortly after the U.S. House of Representatives passed the bipartisan tax deal earlier this week, Rep. Mike Lawler (R-NY) introduced the SALT Marriage PenaltyA

Portugal VAT Reform Options | Tax Foundation Skip to content Home • Blog • Mind the Gap, Please! How Portugal Could Reform Its VAT System Note: This post is part of a series on Portugal’s taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to

Maryland Local Income Tax Reform: Details & Analysis Skip to content Home • Blog • Maryland Considers Raising Local Income Taxes On January 22, Maryland Delegate Palakovich Carr introduced H.B. 470, a bill that would significantly alter the local income taxA tax is a mandatory payment or charge collected by local, state, and national governments

The Harms of Retaliatory Tax and Trade Policies | Tax Foundation Skip to content Home • Blog • Tax Foundation Discussion on the Harms of Retaliatory Tax and Trade Policies The TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of

Impact of GILTI, FDII, and BEAT | Tax Cuts and Jobs Act (TCJA) Skip to content January 31, 2024January 30, 202430 min readBy: Alan Cole Table of Contents Key Findings The TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of

2024 Tax Relief Act: Details & Analysis | The Deduction Podcast Skip to content Today, we’re exploring the intricacies of the latest congressional act stirring up Washington—The TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods,

Kansas Flat Tax Reform & Relief: Details & Analysis Skip to content Home • Blog • A Lower, Flat Income Tax Would Promote Long-Term Economic Growth in Kansas Kansas has begun its fifth consecutive legislative session under politically divided government, with Republicans holding a slim supermajority in the legislature while Gov. Laura Kelly (D) begins

Permanent Bipartisan Tax Deal Revenue Challenges & Trade-offs Skip to content Home • Blog • Permanent Bipartisan Tax Deal Would Grow Economy but Create Revenue Challenges One concern surrounding the recent congressional bipartisan tax deal is that most of the proposed taxA tax is a mandatory payment or charge collected by local, state, and national

2024 State Corporate Income Tax Rates & Brackets Skip to content Table of Contents Key Findings Forty-four states levy a corporate income taxA corporate income tax (CIT) is levied by federal and state governments on business profits. Many companies are not subject to the CIT because they are taxed as pass-through businesses, with income reportable

Kentucky Sales Tax Reform & Modernization | Tax Foundation Skip to content Table of Contents Key Findings Under an ideal sales taxA sales tax is levied on retail sales of goods and services and, ideally, should apply to all final consumption with few exemptions. Many governments exempt goods like groceries; base broadening, such as including

Capital Gains Taxation in the EU | Tax Foundation Europe Skip to content January 23, 2024January 23, 20245 min readBy: Sean Bray Table of Contents Note: The following is the written testimony of Sean Bray, Director of European Policy at the TaxA tax is a mandatory payment or charge collected by local, state, and national

Corporate Tax Breaks Have Expanded: Corporate Tax Expenditures Skip to content Home • Blog • JCT Report Shows How Corporate Tax Breaks Have Expanded The Joint Committee on Taxation’s (JCT) December 2023 tax expenditureTax expenditures are a departure from the “normal” tax code that lower the tax burden of individuals or businesses, through an exemption,

Michigan Tobacco Tax Proposals: Details & Analysis Skip to content Home • Blog • Michigan Tobacco Bills Could Reduce Revenue and Increase Smuggling Two pieces of tobacco legislation in Michigan have the potential to decrease state taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses

2024 Bipartisan Tax Deal: Details & Analysis Skip to content Home • Blog • Details and Analysis of the Tax Relief for American Families and Workers Act of 2024 The House Ways and Means CommitteeThe Committee on Ways and Means, more commonly referred to as the House Ways and Means Committee, is one of 29