Tax

Last Saturday, the U.S. House of Representatives passed a bill (reportedly pending some potential technical changes) to help aid those affected by the current coronavirus crisis. The bill, the Families First Coronavirus Response Act, would expand federal medical leave, create an emergency paid sick leave requirement, and provide tax credits against employer-side payroll taxes to…

Over the last few years, concerns have been raised that the existing international tax system does not properly capture the digitalization of the economy. Under current international tax rules, multinationals generally pay corporate income tax where production occurs rather than where consumers or, specifically for the digital sector, users are located. However, some argue that…

Key Findings The Maryland General Assembly is on the verge of adopting a vaguely worded, legally dubious tax on digital advertising in the final days of this session—now paired with new tobacco taxes. Although lawmakers intend to tax large out-of-state businesses, much of the tax burden would be borne by Maryland-based businesses and Maryland consumers.…

On Monday, Georgia’s House of Representatives passed House Bill 378, which would extend the state’s municipal rental car excise tax onto  marketplace facilitators of rental motor vehicles, including peer-to-peer car sharing firms. This proposal, like other proposals contemplated by policymakers in other states, goes in the wrong direction by expanding a tax that violates the…

Countries around the world are implementing emergency tax measures to support their debilitated economies under the coronavirus (COVID-19) threat. The following countries implemented or plan to implement tax relief for businesses and households affected by this health crisis: China has reduced its value-added tax (VAT) from 3 percent to 1 percent for the cash accounting…

President Trump and some members of Congress are promoting a payroll tax cut to respond to the growing coronavirus outbreak. But if they are looking…

Tuesday, the Georgia House of Representatives passed HB 949, a bill to consolidate the state’s six individual income tax brackets into one, reduce the top rate from 5.75 percent to a new 5.375 percent flat rate, eliminate the Georgia itemized deduction for state income taxes paid, create a new tax credit for individuals with incomes…

Pi Day is one of my favorite holidays, where I have a chance to celebrate math, pies, and puns. All of which I love. This…

A Michigan group, Michiganders for the Commonwealth, is coordinating a petition drive to put a constitutional amendment raising taxes overall while creating a graduated income tax on the ballot in November. Voters have overwhelmingly rejected such proposals in the past, and this particular measure has the added complexity of binding the legislators to act but…