Electricity Production Several tax provisions encourage electricity production from nonfossil sources. The two largest are the renewable electricity production tax credit (PTC) and the energy...
The Low-Income Housing Tax Credit (LIHTC) subsidizes the acquisition, construction, and rehabilitation of affordable rental housing for low- and moderate-income tenants. The LIHTC was enacted...
How do Opportunity Zones Work? The 2017 Tax Cuts and Jobs Act created the Opportunity Zones program—meant to spur investment in undercapitalized communities. The program...
When corporations based in one country earn profits from production in other countries, the countries involved must decide on the appropriate tax base. Such rules...
Before the 2017 Tax Cuts and Jobs Act (TCJA), the United States generally taxed its corporations and residents on their worldwide income. However, a US...
Over the past several decades, multinational corporations have used a variety of techniques to shift profit from the United States to other countries (and, thereby,...
Before the 2017 Tax Cuts and Jobs Act (TCJA), the United States generally taxed its firms and residents on their worldwide income. However, US firms...
As part of the 2017 Tax Cuts and Jobs Act, Congress lowered the tax rate for US corporations’ foreign-derived intangible income (FDII). Congress effectively reduced...
These are challenging times for tax policy. In recent years, it has played a vital role in providing economic relief and stimulus during the COVID-19...
Janet Holtzblatt is a senior fellow at the Urban-Brookings Tax Policy Center. Over a three-decade career in the federal government, she worked on a broad...
Robert A. Weinberger is a nonresident fellow at the Urban-Brookings Tax Policy Center. His research focuses on tax administration, practitioner regulation, and refundable tax credits...
State and local governments collected $4.1 trillion of general revenues in 2021. That amount includes intergovernmental transfers from the federal government. And it excludes revenues...
In 2023, 41 states and the District of Columbia levy a broad-based individual income tax. New Hampshire taxes only interest and dividends. New Hampshire’s tax...
Most US businesses, including sole proprietorships, partnerships, and certain eligible corporations, do not pay federal or state corporate income taxes. Instead, their owners must include...
These taxes constitute only a small percentage of state and local general revenue nationally, but can account for a substantial revenues in a few, natural...
While often called soda taxes, these sugar sweetened beverage taxes also apply to iced teas, fruit drinks, sports drinks, and most other drinks with added...
Although prohibited under federal law, 20 states allow and levy some type of excise tax on recreational cannabis purchases. But different states use different taxes—percentage-of-price...