State and local revenue from property taxes totaled $488 billion in 2015. On a per capita basis, DC was the highest with $3,359, followed by NJ with $3,082, and AL was the lowest with $540. Notably, all states in the northeast region collected more than $2,000 per capita.
June 25, 2018
: Daily Deduction

A Decision, New Mail, and Another Court Case

The US Supreme Court overturned Quill v. North Dakota.
June 22, 2018
State and Local Issues: TaxVox

Supreme Court Gives States Wide Authority To Collect Taxes on Remote Sales

The US Supreme Court has given states broad authority to require online and other remote sellers to collect sales taxes. And it has largely ended...
June 21, 2018Howard Gleckman
: TaxVox

Lessons Learned 40 Years After A Monumental Tax Law

Forty years ago, California voters were sent a 63-page pamphlet explaining the 13 questions on the primary ballot that June. At the end of the...
June 21, 2018Kim S. RuebenRichard C. Auxier
: Daily Deduction

Laws, Rejection, and More Reactions

Wyden wants a bipartisan look into the Donald J. Trump Foundation.
June 21, 2018Renu Zaretsky
Federal Budget and Economy: Conference

8th Annual IRS/TPC Joint Research Conference on Tax Administration

call_for_papers-irs-tpc-conference.pdf call_for_papers-irs-tpc-conference.pdf (150.63 KB) The event will be webcast live on this page. The Internal Revenue Service (IRS) and the Urban-Brookings Tax Policy Center invite you to attend the...
June 20, 2018
: Daily Deduction

Shoe Smugglers, Slipping TCJA Support, Appropriators, and Caribou

President Trump lashes out at Canada (again).
June 20, 2018Renu Zaretsky
Business Taxes: TaxVox

President Trump’s Situational View About Enforcing Tax and Immigration Laws

Question: What does the Trump Administration’s policy decision to separate immigrant children from their parents at the Mexican border have in common with its policy...
June 20, 2018Howard Gleckman
: Daily Deduction

Amping Up, Tracking Change, Filing for Free, and Ruling Against

Trump escalates the trade war with China.
June 19, 2018Renu Zaretsky
: Daily Deduction

Who’s afraid of the big, bad trade war?

Iowa: The Des Moines Register warns farmers of the cost of tariffs.
June 18, 2018Renu Zaretsky
The Black Lung Disability Trust Fund collected $429 million from taxes on coal mine operators and disbursed $183 million to affected miners and families in 2017. But the fund's debt exceeds $4 billion due to interest payments and the coal tax rate is set to decrease in 2019.
June 18, 2018
: Daily Deduction

A Lawsuit, Creative Revenue Measures, and Uncertainty

The State of New York sues the Donald J. Trump Foundation.
June 15, 2018Renu Zaretsky
: Daily Deduction

Forecasts and Funding

At least one business is having a hard time after the Tax Cuts and Jobs Act.
June 14, 2018Renu Zaretsky
State and Local Issues: TaxVox

From Head Taxes To Parcel Taxes, Cities And States Are Looking For New Ways To Raise Revenue

If you are a regular reader the Tax Policy Center’s morning news summary, the Daily Deduction , you’ve probably noticed a fascinating trend: The rise...
June 14, 2018Howard Gleckman
Federal Budget and Economy: Brief

Helping Workers during Recessions

Options for the Next Crisis
When a recession hits, the federal government usually responds with tax cuts and additional financial assistance, because automatic policies built into the law often prove inadequate and elected officials need and want to respond to the crisis. This brief compares the distributional and stimulus
June 14, 2018C. Eugene SteuerleCaleb QuakenbushElaine Maag
: Daily Deduction

Timing, Headaches, Impacts and a Defeat

The TCJA: Timing is everything for public companies’ accountants.
June 13, 2018Renu Zaretsky
Campaigns, Proposals, and Reforms: Research report

Effects of the Tax Cuts and Jobs Act: A Preliminary Analysis

This paper examines the Tax Cuts and Jobs Act (TCJA) of 2017, the largest tax overhaul since 1986. The new tax law makes substantial changes to the rates and bases of both the individual and corporate income taxes, cutting the corporate income tax rate to 21 percent, redesigning international tax
June 13, 2018William G. GaleHilary GelfondAaron KrupkinMark J. MazurEric Toder
Business Taxes: TaxVox

Is the TCJA An Accountants’ Bonanza Or Nightmare?

In a Harvard Business Review article last December, I described how the complex and poorly vetted provisions of the Tax Cuts and Jobs Act (TCJA)...
June 12, 2018Eric Toder
: Daily Deduction

State Legislatures: Slow, Steady, and Seeking Revenue

Companies are waiting for states to settle on corporate income tax rates.
June 12, 2018Renu Zaretsky
: Daily Deduction

Pass-Through Rules Coming and a Rough Weekend in Canada

IRS pass-through regs on the way.
June 11, 2018Renu Zaretsky
For most age groups, particularly those under 45, home ownership rates have declined since 1989 and especially since 2004. However, for the over 75 age group, home ownership rates have increased.
June 11, 2018
: Daily Deduction

Newton's Third Law of... Taxes?

For every action, an equal and opposite reaction.
June 8, 2018Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

What Should Republicans Include In Their Second Tax Bill?

The Trump Administration and some congressional Republicans, including Ways & Means Committee Chair Kevin Brady (R-TX), are promising Tax Bill 2.0 later this year—perhaps in...
June 7, 2018Howard Gleckman
: Daily Deduction

Of Disputes and History Lessons…

The World Trade Organization will weigh in on Trump tariffs.
June 7, 2018
Business Taxes: Conference

Effects of The Tax Cuts and Jobs Act on Investment Incentives and Financial Reporting

The Tax Cuts and Jobs Act (TCJA) of 2017 altered the taxation of business income. These changes will affect investment incentives, compensation policies, and the income amounts firms report to their shareholders. Join the Urban-Brookings Tax Policy Center and the University of North Carolina Tax Center (an affiliated center of the University of North Carolina Kenan Institute for Private Enterprise) as experts in financial accounting and economics offer their perspectives.
June 6, 2018