Taxes

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

Nebraska Property Tax Relief Proposal from Governor Pillen Skip to content Home • Blog • Evaluating Nebraska Governor’s Plan for Property Tax Relief While we await the details, early reporting indicates that Nebraska Governor Jim Pillen (R) plans to propose legislation that would deliver property taxA property tax is primarily levied on immovable property like

2024 Corporate Income Tax Rates in Europe | Tax Foundation Skip to content Table of Contents European countries—like almost all countries around the world—require businesses to pay corporate income taxes on their profits. The amount of taxes a business ultimately pays on its profits depends on both the corporate tax baseThe tax base is the

DC Tax Revision Commission Recommends Major Tax Changes Skip to content Home • Blog • D.C. Tax Revision Commission Recommends Major Tax Changes On January 5, the D.C. 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,

Corporate Tax Cuts: Effects on Workers/ Wages | Tax Foundation Skip to content Home • Blog • Don’t Ignore the Long Run When Evaluating Corporate Tax Cuts Do corporate 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

Belgium EU Presidency Tax Files: Details & Analysis Skip to content Home • Blog • Tax Files under New Council of EU Presidency: Belgium On 1 January 2024, Belgium took over the six-month rotating presidency of the Council of the European Union from Spain. In a presidency that will be heavily influenced by national and

Tax Cuts and Jobs Act Permanence: Details & Analysis Skip to content Home • Blog • Which Provisions of the Tax Cuts and Jobs Act Should Be Made Permanent? The 118th Congress returns to Washington this week with a major taxA tax is a mandatory payment or charge collected by local, state, and national governments

Americans Moved to Low-Tax States in 2023 Skip to content Table of Contents Americans were on the move in 2023, and many chose low-tax states over high-tax ones. That’s the finding of recent U.S. Census Bureau interstate migration data and commercial datasets released last week by U-Haul and United Van Lines. The U.S. population grew

Spain Tax Reform: Madrid, Catalonia, and Other Considerations Skip to content Home • Blog • Spanish Regions Are Not Surrendering Their Tax Competitiveness without a Fight Spain’s central government could learn some valuable lessons from its regional governments about sound taxA tax is a mandatory payment or charge collected by local, state, and national governments

Methane Fee to Take Effect in 2024: A Mini Carbon Price Skip to content Home • Blog • Methane Fee to Take Effect in 2024: A Mini Carbon Price While a broad-based carbon taxA carbon tax is levied on the carbon content of fossil fuels. The term can also refer to taxing other types of

Connecticut Tax Changes Effective January 1, 2024 Prior to 2018, pass-through entities were not subject to entity-level tax in the state as income was realized by the entity’s owners. However, in 2018, the state opted to institute the pass-through entity tax (PTET), which created a tax at the entity level with two base options. This

Virginia Governor Youngkin Tax Plan: Details & Analysis Skip to content Home • Blog • Governor Youngkin Unveils a New Tax Plan for Virginia On December 20th, Virginia Governor Glenn Youngkin (R) unveiled the contours of a taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or

Ukraine Tax System Competitiveness vs. EU Member States Skip to content Home • Blog • European Tax Policy Scorecard: How Competitive is Ukraine’s Tax System Relative to EU Member States? On 14 December, the European Council agreed to open accession negotiations with Ukraine. Negotiators from the European Union and Ukraine will now decide what reforms

Alcohol Tax Modernization: ABV Tax and other Drink Tax Reforms Skip to content December 19, 2023December 18, 202318 min readBy: Adam Hoffer Table of Contents Key Findings Alcohol is one of the most highly taxed products in the United States. The federal government takes a categorical approach to alcohol taxation (e.g., taxing based on classification

Transcript There’s one word that has impacted virtually every era of recorded history. From the rise and fall of entire nations, to the food you eat and the car you drive. From revolutionary wars, to revolutions in fashion. That word is…taxes. Yep, taxes. It turns out that many of our most basic tax types have