Taxes

Spain Windfall Tax on Energy & Banking Sectors Skip to content Home • Blog • Wartime Taxes Are Waging War on Sound Policy Choices Even though energy prices have declined from their recent peak, Spain is one of the few countries in Europe continuing to rely on windfall profits taxes to fund relief measures for

Trump Americans Abroad Tax Compliance Relief Proposal Skip to content Home • Blog • Americans Abroad Need Compliance Cost Relief Last week, Republican presidential nominee Donald Trump stated “I support ending the double taxationDouble taxation is when taxes are paid twice on the same dollar of income, regardless of whether that’s corporate or individual income.

Recent Changes to State GILTI Tax Base Treatment States’ treatment of GILTI has not changed significantly in recent years. Since our last map update on May 20, 2021, only two states, New Jersey and Minnesota, amended their state tax codes or provided supplementary regulatory guidance that invokes GILTI tax base changes: New Jersey decreased its

Blog January 31, 2024September 24, 2024 Tax Foundation Discussion on the Harms of Retaliatory Tax and Trade Policies Historical evidence and recent studies have shown that retaliatory tax and trade proposals raise prices and reduce the quantity of goods and services available to U.S. businesses and consumers, resulting in lower incomes, reduced employment, and lower

More Competitive EU Tax System: Recommendations | TFE Skip to content Home • Blog • What Does Moving Toward a More Competitive EU Tax System Mean? “There are two kinds of European nations. There are small nations and there are countries that have not yet realized they are small nations.” This quote by a former

Federal Budget Deficit: US Spending & Tax Collections Post-TCJA Skip to content Home • Blog • Another Huge Federal Deficit in Fiscal Year 2024 Despite Surging Corporate and Other Tax Collections The federal government’s budget deficit was $1.8 trillion in fiscal year 2024 (which ended in September), according to preliminary analysis by the Congressional Budget

Updated for tax year 2024. Ah, the ultimate tax question: What should you do if you owe more taxes to the Internal Revenue Service (IRS) than you can afford? Discovering you owe more tax than expected can leave you feeling defeated. Not getting a tax refund is bad enough, but finding out you owe a

Have you ever wondered how to make sense of Form W-2? A W-2 form is more than just a piece of paper; it’s a breakdown of your income, taxes, and other important details that your employer must provide to you and the IRS. This guide will explain everything you need to know about Form W-2,

If you’re a freelancer or a career independent contractor, you’re probably familiar with a W-9 form. As far as tax paperwork goes, it’s one of the better ones because it generally means you’ve won a new client! The form makes it easy to submit all your vital information to the client, so you can start

Oregon Measure 118 State Budget Cost: $2 Billion Skip to content Home • Blog • Oregon Measure 118 Is an $8 Billion Tax Increase That Raids $2 Billion from the State Budget Oregon Measure 118 would raise $8 billion a year in its first full year, and nearly $10 billion a year within five years

Changes from Last Year Estonia increased its excise duty on beer from €12.70 to €13.34 per hectoliter per alcohol content in January 2024, amounting to €0.01 more per drink. Finland decreased its excise duty on beer from €38.05 to €36.20 per hectoliter in January 2024, amounting to €0.03 less per drink. France increased its excise

Brazil Alcohol Tax System Reform | Tax Foundation Skip to content Home • Blog • Brazil Proposes Major Overhaul of Its Alcohol Tax System The Brazilian government is poised to make the biggest change to its alcohol taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or

US Economy vs Chinese Economy: Bolster US Economic Growth Skip to content Table of Contents Key Findings Competition with China has become a key theme of American politics. One crucial aspect of that competition is aggregate economic growth. One policy lever that affects aggregate economic growth (among many) is the structure of the corporate taxA

North Dakota Repeal Property Taxes Measure 4 Skip to content Home • Op-eds • Before Repealing the Property Tax, Look Under the Hood Imagine never again receiving a property taxA property tax is primarily levied on immovable property like land and buildings, as well as on tangible personal property that is movable, like vehicles and

Vice President Kamala Harris has touted a new economic plan to drive “broad-based economic growth,” but her policies contradict this message. Her narrowly targeted America Forward tax credit for “industries of the future” and taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

Every year brings new tax law changes to keep American taxpayers on their toes, and 2024 is no different. From simple inflation updates to changes in Form 1099-K reporting requirements, here’s everything you need to know about 2024 tax changes before you file your income tax return. At a glance: The standard deduction has increased,

Corporate Tax Rates by State under Kamala Harris Tax Plan Skip to content Home • Blog • Combined Corporate Rates Would Exceed 30 Percent in Most States Under Harris’s Tax Plan Vice President Kamala Harris’s proposal to raise the federal corporate income taxA corporate income tax (CIT) is levied by federal and state governments on

Sports Stadium Subsidies: Taxpayers Shoulder a Heavy Burden Skip to content Home • Blog • Taxpayers Shoulder a Heavy Burden for Sports Stadium Subsidies State and local governments spend significant sums for the construction, operation, and continued maintenance of sports stadiums and arenas. According to recent estimates by sports economists, “between 1970 and 2020 state

Louisiana Tax Reform Options to Boost Competitiveness Skip to content Home • Testimony • Pro-Growth Tax Reforms to Boost Competitiveness in Louisiana Note: The following is the testimony of Manish Bhatt, Senior Policy Analyst with the TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses

Georgia Property Tax Exemption, Amendment 1 Skip to content Home • Blog • Georgia Amendment 1 Threatens the State’s Housing Market Georgia’s Local Option Homestead Property Tax ExemptionA tax exemption excludes certain income, revenue, or even taxpayers from tax altogether. For example, nonprofits that fulfill certain requirements are granted tax-exempt status by the Internal Revenue