Tax

When it comes to corporate taxes, what’s “fair?” Do taxpayers have a sense of what major corporations pay in taxes? And when corporations pay income taxes, do we understand who ultimately bears that tax burden?

Massachusetts’ House of Representatives has proposed a transportation funding bill to be paid for, in part, by an unusual transportation revenue source—a greatly expanded corporate minimum tax. The transportation funding proposal, contained in H. 4508, would raise approximately $612 million per year with a 5-cent increase in the gas tax and 9-cent increase in the…

President Trump and some members of Congress are floating the idea of new tax cuts to respond to the growing threat of the novel Coronavirus…

Tax filing season brings up many questions for taxpayers, such as, “How big will my tax refund be?” or, “Will I have a balance due when I file taxes this year?” However, one of the biggest questions taxpayers should ask is, “How much did I pay in taxes?” If taxpayers focus solely on the size…

TPC is about to begin releasing its estimates of the revenue and distributional effects of the 2020 presidential candidates’ tax proposals, a project we’ve done…

Since the Supreme Court’s 2018 decision in Murphy v. National Collegiate Athletic Association overturned the federal ban on sports betting, several states have legalized betting and introduced excise taxes on the revenues. And some are considering doing that. In 2019, eight states approved sports betting and taxation regimes, joining the existing 12 states and the…

At a recent forum on infrastructure, Democratic presidential candidates Joe Biden, Pete Buttigieg, Amy Klobuchar, and Tom Steyer discussed their proposals to bolster spending on…

Today’s map shows the extent to which European countries rely on individual income tax revenue, measured as a share of total tax revenue. According to a recent report on tax revenue sources, individual income taxes were the third most important tax revenue source among European OECD countries in 2018, at an average of 23.0 percent of…

It sometimes seems hard to get a group of politicians to agree to anything, so it’s notable that just a hundred miles northwest of Tuesday night’s heated presidential debate, 104 state representatives of both parties came together in a unanimous vote to reform South Carolina’s antiquated business license tax. South Carolina’s business license tax regime…