Taxes

Electric vehicles (EVs), plug-in hybrid electric vehicles (PHEVs), and other clean-energy vehicles continue to gain popularity, especially as gas prices soar. Is it time for you to make the switch? If you’re new to the EV market, you no doubt have a lot of questions — topics like EV battery range, maintenance costs, and affordability

Note: This report was published in partnership with the Centre for Policy Studies, one of the oldest and most influential think tanks in Westminster. With a focus on taxation, economic growth, business, welfare, housing and green growth, its goal is to develop policies that widen enterprise, ownership and opportunity. Key Findings For many years, the UK has adopted a

Corporations in the United States pay federal corporate income taxes levied at a 21 percent rate. Forty-four states and D.C. also levy taxes on corporate income, with top marginal rates ranging from 2.5 percent in North Carolina to 11.5 percent in New Jersey. Fifteen of the states levy graduated corporate income tax rates, while the

As noted in a Tax Foundation blog post last week, the Inflation Reduction Act (IRA) primarily uses carrots, not sticks, to incentivize reductions in carbon emissions. The Inflation Reduction Act creates or expands tax credits for various low- or no-emission technologies, rather than imposing a generalized penalty for emissions, such as a carbon tax. However, there

Picture this: you arrive at your polling place this November and start filling in your ballot. Member of Congress? Check. State legislators? You did your homework! Mayor? Good to go. Whether certain property tax exemptions provided for agricultural equipment and certain farm products should be expanded to include a merger of two or more family-owned

The Inflation Reduction Act created numerous tax subsidy programs intended to accelerate the transition to a greener economy. The justification for climate change action is strong, but there are two possible approaches to take which we might colloquially call carrots and sticks. Carrots are subsidies designed to reduce emissions—think tax credits for green energy or carbon

Ernest S. Christian, Jr., (1937-2022) was one of the tax policy community’s most distinguished and influential experts, showing us how effective sound tax policy can be. He passed away on September 13th, leaving behind a legacy of tax reform. Ernie gave up a lucrative career in law and government to devote the last nearly three

Key Findings Massachusetts’ tax advantage in New England is primarily driven by its competitive individual income tax rate and its sales and use tax structure. The graduated income tax amendment would be paid by many small businesses, in addition to wealthy individuals. The proposed surtax is likely to have negative economic effects that will impact

Property taxes are the primary tool for financing local government and generating state-level revenue in some states as well. In fiscal year 2020, property taxes comprised 32.2 percent of total state and local tax collections in the United States, more than any other source of tax revenue. Local governments rely heavily on property taxes to fund schools, roads, police departments, fire and emergency medical

Note: This post was originally published on July 1, 2021 but has been updated to reflect the latest details on the global tax agreement. In recent years, countries have been debating significant changes to international tax rules that apply to multinational companies. Following a July announcement by countries involved in negotiations at the Organisation for Economic

The UK contest for Boris Johnson’s replacement has concluded: Liz Truss is now the new UK Prime Minister. Her campaign offers clues about what this might mean for UK tax policy, though it is unclear how soon the various plans will be enacted. Like many other countries, the UK is dealing with challenges caused by

Your small business is your baby and choosing the right name for it is a big deal. But what happens when you need to change your business name for whatever reason? Here’s how to prepare and what to expect when you decide your business name needs an upgrade. Can you change the name of an