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State and Local Sales Tax Rates, Midyear 2021

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),

State & Local Tax Structure Has a Critical Impact

TweetShareSharePin0 Shares While high top tax rates may provide “sticker shock” for corporations looking for a state to call home, they are just one of several important drivers of businesses’ tax burdens and tax compliance costs. The tax base, and more broadly, the structure of the tax code, play a large role in business taxes

Impact of Biden Tax Plan by State & District

TweetShareSharePin0 Shares The tax proposals contained in the Biden administration’s fiscal year 2022 budget, including the American Families Plan (AFP) and American Jobs Plan (AJP), would levy $2.3 trillion in new taxes on high-income earners and businesses and provide $998 billion in refundable tax credits to low- and middle-income households, for a net tax increase

Wisconsin State Budget Tax Proposals

TweetShareSharePin0 Shares The Wisconsin Assembly and Senate this week are considering several tax reforms as part of the budget for the fiscal year (FY) 2022-23 biennium, which begins Thursday (July 1). Several were precipitated by the Wisconsin Legislative Fiscal Bureau’s (LFB) announcement earlier this month that the state is projected to end the current fiscal

2021 State Tax Changes, Effective July 1

TweetShareSharePin0 Shares Key Findings Thirteen states have notable tax changes taking effect July 1, 2021. Indiana has the lone corporate income tax rate change, with the rate decreasing from 5.25 to 4.9 percent. Montana will begin using a corporate income tax apportionment formula with a double-weighted sales factor. Idaho will offer a one-time individual income
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