As states look for a path out of these fiscally troubling times, Louisiana has several options for aspects of its tax code to promote economic recovery and growth. The Pelican State’s federal deductibility, Corporation Franchise Tax, and sales tax structure present opportunities for beneficial tax reform in the wake of the coronavirus crisis.
3 min read
Taxing GILTI puts states at a competitive disadvantage compared to their peers—all for a tax that makes very little sense at the state level, and which legislators never sought in the first place.
5 min read
The new federal tax on Global Intangible Low-Taxed Income (GILTI) is something of a misnomer: it’s certainly global and it’s definitely income, but the rest of it is, at best, an approximation. It’s not exclusively levied on low-taxed income, nor just on the economic returns from intangible property. So what is GILTI, why might states tax it, and what’s the problem with that?
8 min readStates incorporate provisions of the federal tax code into their own codes in varying degrees, meaning that federal tax reform has implications for state revenue beyond any broader economic effects of tax reform.
73 min read
In 2019, key trends in state tax policy include reductions in corporate tax rates, updating sales tax systems to include remote online sales, taxes on marijuana and sports betting, gross receipts taxes, and more. Explore our new 2019 guide!
32 min read
Virginia has an opportunity to improve its tax competitiveness following the Tax Cuts and Jobs Act. Inaction will result in higher taxes.
14 min read
Georgia, Idaho, Iowa, Missouri, and Utah capitalized upon the Tax Cuts and Jobs Act’s (TCJA) changes by conforming to increase their annual state revenues.
5 min read
Indiana recently passed tax conformity legislation linking the state’s individual and corporate tax code to the new federal law.
2 min read
The new federal tax law left states with some important decisions to make. If they delay, their residents could face confusion come filing time.
4 min read
Iowa Gov. Kim Reynolds is on the verge of signing tax reform legislation that would greatly improve the state’s needlessly complex tax code.
6 min read
In response to the new federal tax law, the governor and lawmakers in both houses have proposed plans for updating Minnesota’s tax code.
2 min read
The proposal includes some good reforms, including conforming to the federal full expensing provision, but also rolls back some recent positive changes.
2 min read
Failure to reverse this newly adverse treatment of capital investment makes it less likely that businesses will invest in Pennsylvania.
15 min read