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Business Tax Expenditures Archive

Tax Extenders Slated to Expire at End of 2021

TweetShareSharePin0 Shares It’s that time of year when we review which items of the tax code are scheduled to expire or otherwise change in just a few days. An eclectic group of temporary tax policies approach their expiration dates, but at the last minute typically hitchhike onto must-pass legislation for another temporary extension. Not so

Spain Start-Up Law Tax Proposal: Details & Analysis

TweetShareSharePin0 Shares Three years after its initial announcement, Spain’s government has given a green light to the “start-up law” and sent it to parliament. The bill that could be approved by mid-2022 is part of the reform package that Spain and the European Commission agreed upon in order for Spain to receive the European Union

Build Back Better Book Minimum Tax

TweetShareSharePin0 Shares The Build Back Better Act (BBBA) would raise taxes to pay for social spending programs. But the design of some of the tax increases may end up hurting private pensions, among other problems. By relying on measures of income reported on company financial statements, i.e., book income, the proposed corporate alternative minimum tax

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,

Tax Ballot Measures Proposition 119 and 120

TweetShareSharePin0 Shares On November 2, in addition to electing various city council and school board members, Colorado voters will decide two important questions of state tax policy. Proposition 120 would reduce property tax assessment rates for two subclasses of property and require the state to spend up to $25 million a year, for up to

Reviewing Business Tax Expenditures: Credit Union Tax Exemption

TweetShareSharePin0 Shares Key Findings Policymakers should carefully analyze tax expenditures before categorizing one as a loophole—some tax expenditures are important structural elements of the tax code while others are unsound. Generally, if a provision is broadly available and helps to eliminate the double taxation of saving, or broadly contributes to a consumption tax base, it

Wyden Tax Proposals & Reconciliation

TweetShareSharePin0 Shares Congressional lawmakers are putting together a reconciliation bill to enact much of President Biden’s Build Back Better agenda. Many lawmakers, however, want to make their own mark on the legislation. Senate Finance Committee Chair Ron Wyden (D-OR) has released his own proposals on a variety of tax issues that differ in some important

Don’t Add More Temporary Tax Policies in Budget Reconciliation

TweetShareSharePin0 Shares As policymakers consider using the budget reconciliation process to make tax changes and enact new spending programs, they may be inclined to add to an already growing list of temporary tax provisions. New temporary tax policy should be avoided in reconciliation. Temporary policy creates uncertainty for taxpayers and scheduling more expirations will add
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