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On June 3, New Jersey Governor Phil Murphy (D) renewed his plea to expand the state’s so-called millionaire’s tax to apply to all income above $1 million, down from the current $5 million threshold. This time, he also advocated a one-time $125 property tax credit to New Jersey owners and renters making between $10,000 and

Arizona entered 2019 as one of four states (along with California, Minnesota, and Virginia) conforming to a pretax reform version of the Internal Revenue Code (IRC) for both individual and corporate income tax purposes. With the signature of Gov. Doug Ducey (R) on House Bill 2757, Arizona becomes the latest state to conform to the

’Tis the season to crack open a cold one, whether it’s at a cookout, at an all-American baseball game, or on a tubing trip down a slow-moving river. In the midst of summer’s usual uptick in beer sales, how much of our cash is actually going toward the cost of a brew? Less than you

Oregon’s Corporate Activity Tax, a gross receipts tax levied on businesses with receipts over $1 million, is one step closer to facing voters in in early 2020 after an association of Oregon industrial businesses filed a referendum to repeal the tax this week. The referendum is an opportunity for Oregonians to determine if the tax

State and localities rely heavily on the individual income tax, which comprised 23.5 percent of total U.S. state and local tax collections in fiscal year 2016, the latest year of data available. The individual income tax lands just below the general sales tax (23.6 percent), both behind property taxes (31.5%) as the largest category of

A new advocacy effort is urging state policymakers to create a sales tax exemption for breastfeeding supplies. Proponents make two key arguments: (1) that it’s unfair to apply the sales tax to breast pumps if formula enjoys an exemption, and (2) pumping supplies should not be taxed since they’re a necessity for most nursing mothers.

Last month, the Texas legislature considered two bills geared toward relieving Texans’ property tax burden: Senate Bill 2 and House Joint Resolution 3 (companion legislation to Senate Joint Resolution 76). Both chambers approved SB 2, a 3.5 percent limit on increases for property tax levies, but the bill is currently in conference as the two

Like many states, Arizona is contemplating how to integrate peer-to-peer car-sharing arrangements into the state’s tax code. This session, the state legislature contemplated two proposals to regulate and tax peer-to-peer car sharing. Policymakers have an opportunity to clarify the tax treatment of peer-to-peer car-sharing firms and hosts while preventing the extension of discriminatory car rental

With less than a month remaining in the legislative session, some Connecticut lawmakers want to go bold, eliminating the income tax for many taxpayers and replacing it with a new payroll tax. And while it has the support of some key legislators, many important details have yet to be worked out. The proposal seems straightforward

The Tax Cuts and Jobs Act (TCJA) reduced the U.S. federal corporate income tax rate from 35 percent to 21 percent. However, most U.S. states also tax corporate income. These state-level taxes mean the average statutory corporate income tax rate in the U.S., which combines the average of state corporate income tax rates with the

The Minnesota House of Representatives and Senate have each passed an infrastructure funding bill, but the two chambers have very different ideas of how to generate additional revenue for road and bridge repairs. The sticking point? Whether to increase the excise tax on gas. Currently, Minnesota’s gas tax is 28.6 cents per gallon (cpg), the

States and localities rely on property taxes as a major source of revenue. In fiscal year 2016, the last year where data is available, property taxes accounted for 31.5 percent of total U.S. state and local tax collections, more than any other source of tax revenue. In the same year, 26 states and the District

Years before the U.S. Supreme Court’s landmark 2018 South Dakota v. Wayfair decision, Rhode Island policymakers had the foresight to decide future remote sales tax collection authority would be accompanied by a reduction in the state sales tax rate. Now that such authority has been granted by the Court, Rhode Island’s recently-enacted remote sales tax

Last night, Oregon’s Joint Committee on Student Success passed House Bill 3427, which raises about $2 billion over the next biennium to improve the state’s public school system. The improvements will be funded via a gross receipts tax, entitled the Corporate Activity Tax, levied on businesses with commercial activity over $1 million. Included in the

Members of the Revenue, Education, and Retirement Committees, Thank you for the opportunity to testify today on LB 289 as amended by AM 1381. My name is Joseph Bishop-Henchman, and I am with the Tax Foundation in Washington, D.C. We are a national think tank that collects data and conducts analysis on tax issues. We

Within hours of the emergence of compromise language, legislation enacting a “soft cap” on property taxes passed both chambers of the Iowa legislature last week. The amendments, designed to assuage the concerns of localities that a “hard cap” would unduly limit local budget authority, require any property tax rates anticipated to increase collections by more

If Governor Jared Polis (D) has his way, Colorado voters will consider a cigarette tax increase and a new vapor tax on the ballot this November. House Bill 19-1333, introduced less than two weeks before the end of the 2019 legislative session, would ask voters to approve a vapor tax and more than triple the

After the U.S. Supreme Court handed down its landmark 2018 South Dakota v. Wayfair decision, many states quickly adopted laws like South Dakota’s to establish good legal standing for remote sales tax collection. For some states, this process was as simple as adopting a de minimis exemption to protect small retailers conducting only limited business

As the public grows more supportive of legalizing recreational marijuana, more and more states must figure out their approach toward taxing legal cannabis sales. Ten states (Alaska, California, Colorado, Maine, Michigan, Massachusetts, Nevada, Oregon, Vermont, and Washington) and the District of Columbia have legalized the use and possession of recreational marijuana, but only eight of