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Business Tax Expenditures Archive

Corporate Tax Cuts Effects: Research & Analysis

TweetShareSharePin0 Shares When thinking about tax policy, economists typically distinguish between the short run and long run. While there might be temporary boosts to the economy in the short term from a tax cut due to increased incomes, changes in tax policy alter the incentives to work, save, and invest, which can produce benefits to

OECD Pillar One: Questions Remain | Global Tax Deal

TweetShareSharePin0 Shares The global tax deal that was struck last year continues to move along in slow and uncertain ways. While the global minimum tax gets much attention in the media (and in my own writings, to be honest), there is another significant piece to the deal. The global minimum tax (also known as OECD Pillar

Chips Bill: Semiconductor Computer Chip Subsidies?

TweetShareSharePin0 Shares The Senate has begun debate on the so-called Chips bill, which would provide $52 billion in grants and $24 billion in tax credits to supposedly strengthen the production of semiconductors in the U.S. If this measure passes, U.S. semiconductors will join wool, mohair, helium, soybeans, ethanol, steel, credit unions, and Amtrak as industries

Biden OECD Tax Proposals Would Hurt FDI

TweetShareSharePin0 Shares The Biden administration has proposed several changes to the U.S. international tax system that would raise taxes on multinational enterprises (MNEs). Similarly, the OECD’s tax proposals would raise taxes on MNEs. Together, the proposals would affect patterns of international investment and potentially decrease the volume of foreign direct investment (FDI). Under the tax

PA Corporate Tax Cut: Details & Analysis

TweetShareSharePin0 Shares Over the past decade, policymakers from both parties in Harrisburg have proposed reducing Pennsylvania’s 9.99 percent corporate net income tax (CNIT) rate but could not agree on an approach—until now. With enactment of HB 1342 as part of the 2022-2023 state budget, lawmakers finally succeeded in cutting what had been the second highest

Wisconsin Tax Reform Options to Improve Competitiveness

TweetShareSharePin0 Shares Key Findings Over the past two years, a wave of tax reform has swept the country, with a historic number of states improving their tax competitiveness by reducing income tax rates and enacting flatter structures. Since 2019, Wisconsin has made improvements to its three lowest marginal individual income tax rates, but its top

Tax Havens: TCJA Impact on FDI Stocks

TweetShareSharePin0 Shares The Tax Cuts and Jobs Act (TCJA) of 2017 made several changes to the U.S. tax system to enhance competitiveness and discourage profit shifting to low-tax jurisdictions by U.S. multinationals. Among them were a new 10 percent minimum tax on companies with significant cross-border transactions (BEAT) and new tax rates on deemed intangible

Section 179 Expensing & State Tax Conformity

TweetShareSharePin0 Shares Oklahoma lawmakers and Gov. Kevin Stitt (R) are at a standstill on efforts to secure tax reform in special session, but lawmakers did accomplish something important in the waning days of the state’s regular session—a national first for which the Sooner State deserves substantial credit. Full expensing—or the immediate write-off of all business

Global Minimum Tax: US International Tax Agenda

TweetShareSharePin0 Shares Key Findings A year since the global tax deal was agreed to by more than 130 countries, progress on implementing legislation has hit a lull. Implementation of the minimum tax rules is not expected until the end of 2023 or in 2024. Since the 2017 U.S. tax reforms and other recent international rules

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