Tom Corbett

: TaxVox

Dividends, Bills, Assets and Software

Bank of America may have helped clients avoid taxes. Since at least 2011, it had been using its US unit’s funds to finance transactions by its European investment-banking arm. In doing so, it was able to help hedge funds avoid taxes on stock dividends. “BANA (Bank of America National Association)

February 12, 2015Renu Zaretsky

State and Local Issues: TaxVox

Did Tax Hikes Doom Governors? Did Tax Cuts Elect Them?

At first glance, the message was pretty clear: If you were a governor who cut taxes, you probably got reelected on Tuesday. If you were a governor who raised taxes (or even a candidate who worked for one) you probably lost. It was true in deep red states like Kansas where, against all odds, Sam

November 6, 2014Howard Gleckman

: TaxVox

Income Inequality and Time for State Action

Income inequality may shrink state tax revenues. A new report from Standard & Poor’s tells the tale. Incomes have grown rapidly among the wealthy, but have barely kept pace with inflation for many others. But high income earners both shelter their income from taxes and save more, reducing state

September 16, 2014Renu Zaretsky