Taxes

State Lawmakers Backtrack on a Tax Code Revamp

Utah officials say they plan to scrap a law they passed just last month after it attracted widespread public opposition, in part because of a tax hike on groceries.

Seniors’ Sweet Tax Breaks Have Become a Target

In most states, seniors pay less income tax than younger people. Is that fair?

Proposal Could Impose Higher Taxes on Companies With Large CEO-Worker Pay Gaps

A California Senate committee approved a bill meant to address big pay disparities between corporate executives and employees.

Property Taxes Sink Farmland Owners

As farmland continues to increase in value, even amid declining farm prices and weather woes, farmers see their tax bills rise.

Lawmaker Sees State Rainy Day Fund as Lifeline For Localities Battling Big-Box Stores Over Taxes

The Indiana legislation could assist local governments dealing with “dark-store theory” property tax appeals.

Tax Incentives Fail to Spur Broad Economic Growth, Study Finds

Researchers analyzed state and local governments tax incentive spending, finding little evidence that the deals spurred job growth outside the specific industry implicated.

Cities and States Look to Tap More Tax Revenue From Expensive Real Estate Sales

“It basically allows for luxury housing to pay for affordable housing,” said a Boston city council member describing a "transfer" tax proposal there.

With Healthy Budgets, Dozens of States Give Raises to Their Workers

The number of states bumping up pay for their employees has hit a high not seen since prior to the Great Recession.

In Two Blue States, Voters Back Democrats, But Show a Wariness Toward Taxes

In Colorado and Washington, residents this fall voted to either constrain state tax revenues or cut fees, even as Democratic lawmakers argue the money is needed to support education and transportation programs.

Opportunity Zones Investors Show Appetite for Real Estate Over Startups

Nearly three quarters of $4.5 billion that has poured into the program is in investment funds that plan to focus at least in part on residential real estate.

Chemical Companies Are Building Their Plants Overseas and Shipping Them Back In. They Still Get State Tax Breaks.

Louisiana attracts chemical companies with one of the country’s most generous tax exemptions. The idea is to bring jobs to the state. Instead, construction often happens offsite, and automation has cut down on the jobs that remain.

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Record Cyber Monday Boosts State Tax Revenue

Cyber Monday sales this year were up nearly 20% compared to last year.

Taxing Online Sales Won’t Save Cities From the Retail Apocalypse

The Supreme Court’s year-old Wayfair decision allows most U.S. states to collect sales tax from online shopping. Can cities expect a revenue bump?

With Overall State Spending Up, Transportation Sees Notable Gains

At least 18 states raised spending on transportation programs by 10% or more in fiscal 2019, based on estimates in a new report.

Inequality is Higher in Some States Because of Corporate Welfare

COMMENTARY | Corporate tax incentives serve to redistribute funds to the wealthy and reduce resources for broadly redistributive policies over the long run.

Democrats Launch Inquiry Into Opportunity Zones Program

They’re focused on whether political interference by Trump administration officials played a role in the selection of a Nevada zone. Meanwhile, a senator has put forward a bill that would impose new transparency requirements.

Nothing Can Alleviate the Pain of a Stillborn Baby. But States Consider Helping with Parents' Financial Burdens

Several states have passed laws allowing parents of stillborn babies to claim tax credits. Several others have proposed it.

Federal, State Laws Help Corporations Avoid State Income Taxes

COMMENTARY | A little known federal law that dates back decades—along with subsequent state laws—shields many manufacturers and online retailers from state corporate income tax.

Sin Taxes Not a Reliable Source of Revenue, Report Says

States collected $34 million in alcohol and tobacco taxes in 2017, but a tax increase doesn’t always equate to more money as consumer behavior changes.

Federal Spending on Kids Falls, as More Dollars Flow Toward Older Adults and Debt

The findings are included in the latest edition of an annual report. “In a sense in our budget, we’re treating kids worse and worse,” said one of its authors.