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Business Capital Gains and Dividends Taxes Archive

Fiscal Policy Inflation Tax Policy Options

TweetShareSharePin0 Shares Consumer prices rose by 7 percent in 2021, the highest annual rate of inflation since 1982. Where did this inflation come from and what might its impacts be? Tax and fiscal policy offer important clues. Initially thought to be “transitory” and largely the result of pandemic-related supply-chain issues, many economists at the Federal

2022 State Tax Changes Effective January 1, 2022

TweetShareSharePin0 Shares Key Findings Twenty-one states and the District of Columbia had significant tax changes take effect on January 1, 2022 Five states (Arizona, Arkansas, Louisiana, North Carolina, and Oklahoma) cut individual income taxes effective January 1. The District of Columbia was the only jurisdiction to increase income taxes. Four states (Arkansas, Louisiana, Nebraska, and

Washington State Capital Gains Tax Proposal

TweetShareSharePin0 Shares When is an income tax an excise tax? And for that matter, what exactly is an excise tax? The fate of Washington’s capital gains tax, currently in litigation, rests at least in part on the answer to these questions. By way of background, Washington’s supreme court has repeatedly held that the state’s constitution

Alternative Minimum Tax, Tax on Unrealized Capital Gains

TweetShareSharePin0 Shares Tax reform should simplify the tax code. Instead, Congress is debating new ways to raise revenue that would make the tax code more complex and more difficult to administer. The new proposals—imposing an alternative minimum tax on corporate book income, applying an excise tax on stock buybacks, and, at one point this week,

2021 Election Results | 2021 Ballot Measures

TweetShareSharePin0 Shares Election Day will be a modest affair in 2021, perhaps a welcome respite from the inflamed politics of recent years. Despite few statewide races, however, voters in some states will decide important questions by ballot measure. Of particular note, through 10 ballot measures across four states—Colorado, Louisiana, Texas, and Washington—voters will decide significant

History of Step-Up in Basis Shows Perilous Road Ahead

TweetShareSharePin0 Shares As Congress considers President Biden’s proposal to tax unrealized capital gains at death, the history of previous efforts suggests it faces a perilous road ahead. Lawmakers must resolve tricky design and implementation details that derailed past attempts to change how capital gains are treated when assets are passed from one generation to the
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