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federal taxes Archive

2022 Sales Taxes: State and Local Sales Tax Rates

TweetShareSharePin0 Shares Key Findings Forty-five states and the District of Columbia collect statewide sales taxes. Local sales taxes are collected in 38 states. In some cases, they can rival or even exceed state rates. The five states with the highest average combined state and local sales tax rates are Louisiana (9.55 percent), Tennessee (9.547 percent),

The Tax Justice Network’s French podcast: Mali – l’exigence de la justice sociale au-delà des sanctions et de la junte #36

TweetShareSharePin0 Shares Welcome to our monthly podcast in French, Impôts et Justice Sociale with Idriss Linge of the Tax Justice Network. All our podcasts are unique productions in five different languages every month in English, Spanish, Arabic, French, Portuguese. They’re all available here and on most podcast apps. Here’s our latest episode: Pour cette 36ème édition de votre podcast impôts et justice sociale proposé par le

Indonesia Cigarette Tax Reform Simplifies Taxes, But More Work Remains

TweetShareSharePin0 Shares More than 300 billion cigarettes are sold each year in Indonesia—making it the world’s second-largest cigarette market to China. As such, it is important how Indonesia taxes tobacco products. Last year, I wrote about the counterproductive complexity of the country’s tobacco tax system, but in December, Indonesia announced some positive changes to the

Does the World Need Tax-Advantaged Art Freeports?

TweetShareSharePin0 Shares A friend opened her solo art exhibition at a Detroit gallery last month. When my spouse and I bought one of the six pieces she sold that night, we paid Michigan’s 6 percent sales tax on the purchase.  Turns out not all art buyers are like us. High-end collectors can delay taxes indefinitely

2022 State Tax Reform Plans & Proposals

TweetShareSharePin0 Shares If 2021 was a big year for state tax reform, 2022 may give it a run for its money. With January now in the books, the 40 states which have convened their legislative sessions—six more will join them, while four states’ legislatures do not meet in odd-numbered years—already show a flurry of activity

Tax Deduction for Alimony Payments? – Yes!

TweetShareSharePin0 SharesTax Deduction for Alimony Payments? – Yes! Over 50% of marriages end in divorce in the United States. Many divorce decrees include provisions for the payment of alimony. The IRS takes the position that such payments constitute a form of income and create an alimony tax deduction for the person making payments. According to

Business Tax Refunds Must Be Provided Quickly During Future Downturns

TweetShareSharePin0 Shares During the pandemic, policymakers relied on the Internal Revenue Service (IRS) to administer business relief through the tax code. The emergency relief, including business tax refunds for net operating losses (NOLs), was intended to quickly help businesses that lost their source of income during the pandemic. A new report from the Government Accountability

Does Your State Levy a Capital Stock Tax?

TweetShareSharePin0 Shares Today’s map looks at a barrier to state tax competitiveness in a time of increasing mobility: capital stock taxes. Unlike corporate income taxes, which are levied on a business’s net income (or profit), capital stock taxes are imposed on a business’s net worth (or accumulated wealth). As such, the tax tends to penalize investment and
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