State Tax

This week’s map showcases states which levy alternative minimum taxes (AMTs) to prevent corporations from reducing their corporate income tax liability beyond a certain level. Under an AMT, corporations are required to calculate their income tax liability under two systems and pay the higher amount. This requirement under the federal AMT imposed steep compliance costs
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Table of Contents Key Findings There are over 11,000 sales tax jurisdictions in the United States, with widely varying rates. Among major cities, Tacoma, Washington imposes the highest combined state and local sales tax rate, at 10.30 percent. Five other cities’Fremont, Los Angeles, and Oakland, California; Chicago, Illinois; and Seattle, Washington’are tied for the second
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A vehicle miles traveled (VMT) proposal gaining steam in Pennsylvania would be the equivalent of a state gas tax of more than $2 per gallon, and that’s not all the Commonwealth is considering. With infrastructure spending and taxation’both state and federal’the topics of the day, Pennsylvania’s recently appointed Transportation Revenue Options Commis­sion (TROC) has published
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This map shows state gas tax rates as of July 2021, using recently released data from the American Petroleum Institute. States levy gas taxes in a variety of ways, including per-gallon excise taxes collected at the pump, excise taxes imposed on wholesalers (which are passed along to consumers in the form of higher prices), and sales taxes that apply
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While sales tax holidays have been politically popular for a long time, they’ve seen a boost with lawmakers in several states this year as a way to share unanticipated surpluses with taxpayers. Although state budgets may be in unusual places this year, sales tax holidays remain the same as they always have been’ineffective and inefficient.
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