Patent box regimes (also referred to as intellectual property [IP] regimes) provide lower effective tax rates on income derived from IP. Most commonly, eligible types of IP are patents and software copyrights. Depending on the patent box regime, income derived from IP can include royalties, licensing fees, gains on the sale of IP, sales of
Taxes
Latest Updates Post was updated to reflect recent developments. Originally published. See Full Timeline The Spanish election results are moving the country away from pro-growth tax reforms while launching the government’s tax agenda, and the agenda of the Spanish presidency of the Council of the European Union, into uncertainty. Despite gaining 16 more seats than
“The hardest thing in the world is to understand the income tax.” — Albert Einstein Every now and then, we are reminded that taxes can be complex and confusing, and understanding tax policy is an endeavor all its own. Even those of us who work at the Tax Foundation are not immune to this reality.
The tax information you need all in one place. We’ve put together a master list of helpful articles for your tax situation, whether you’re preparing to file, in the process of filing, or waiting for your refund. If you’re self-employed, we have a section for that too. Let’s dive right in. Individual filers Stage 1:
The IRS recently announced that it will delay the $600 threshold for Form 1099-K by one year. While this means you may get a reprieve for tax year 2022, many more eBay sellers will begin receiving Form 1099-K next year during the 2023 tax season. Because of this, eBay has put together a handy guide
Tennessee joined the ranks of no-income-tax states in 2022 with the phaseout of the Hall Tax on interest and dividend income. But with other states upping their game to attract ever-more-mobile people and businesses, lawmakers and the governor are not content to leave Tennessee’s business taxes in their current, uncompetitive form. Gov. Bill Lee (R)
Keen technophiles may recall that the internet is “a series of tubes” (not a “big truck”), and sometimes those tubes get congested. The late Sen. Ted Stevens (R-AK) fretted about streaming services crowding out other data packets. The analysis is highly technical, but do your best to follow: “Ten movies streaming across that internet and
Big life events often trigger tax changes, and getting married is one of them. Though often overlooked, one of the most important steps you should take after getting married is updating your Form W-4 with your employer. Should I fill out a new W-4 when married? Yes! Your W-4 tells your employer how much tax
Developed countries raise tax revenue through individual income taxes, corporate income taxes, social insurance taxes, taxes on goods and services, and property taxes—the combination of which determines how distortionary or neutral a tax system is. For example, taxes on income can do more economic harm than taxes on consumption and property. Countries across the Organisation
One month following California’s implementation of a state-wide flavored cigarette ban, tax-paid cigarette sales dropped 17.3 percent. More than 5.6 million fewer packs were sold in January 2023 than in January 2022. On an annual basis, California will likely see revenues fall by more than $300 million. We previously estimated that a menthol ban in
Did you receive a 1099-K tax form this year? If you’ve never seen this form before and are unsure what to do with it, don’t freak out — we can help you understand your Form 1099-K and guide you through reporting any necessary income. How do I use my 1099-K when filing my tax return?
This week, the Bureau of Labor Statistics (BLS) released data showing that the consumer price index (CPI) rose 0.5 percent in January compared to December 2022, reaching 6.4 percent over the prior 12 months. While inflation has trended down over the past six months, it will likely continue to be above the Federal Reserve’s target