Taxes

The Short Form: Why Your Tax Refund Is Nothing to Celebrate Skip to content Home • Blog • Why Your Tax Refund Is Nothing to Celebrate This is part of our educational blog series, “The Short Form,” to simplify taxA tax is a mandatory payment or charge collected by local, state, and national governments from

Tangible Personal Property Taxes by State, 2024 | Tax Foundation Skip to content Does Your State Have a Small Business Exemption for Machinery and Equipment? In most states, businesses not only pay taxes on their real property (land and structures), but also on their machinery, equipment, fixtures, and supplies, which are classified as tangible personal

Portugal Corporate Taxes Stifle Investment and Economic Growth Skip to content Home • Blog • Portugal’s Corporate Taxes Stifle Investment and Economic Growth Note: This post is part of a series on Portugal’s taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the

Virginia Sales Tax Reform Proposal: B2B Digital Services Skip to content Home • Blog • Virginia Considers Expanding Its Sales Tax Base to B2B Digital Services What is the difference between good and bad taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

Medicare & Social Security Tax Options for Sustainability Skip to content Home • Blog • Sustainably Reforming Social Security and Medicare Will Need More than Just Tax Hikes The Congressional Budget Office’s (CBO) latest forecast shows a key driver of ongoing federal deficits is the growth in Social Security and Medicare. Political disagreement over the

Wealth Taxes in Europe, 2024 | Tax Foundation Skip to content Net wealth taxes are recurrent taxes on an individual’s wealth, net of debt. The concept of a net wealth taxA wealth tax is imposed on an individual’s net wealth, or the market value of their total owned assets minus liabilities. A wealth tax can

The Fatal Flaw of Pillar Two (Global Minimum Tax) | Tax Foundation Skip to content Home • Blog • The Fatal Flaw of Pillar Two Pillar Two, the international global minimum taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of

Biden Administration’s Approach to Defining “American” Companies Skip to content Home • Blog • The Biden Administration’s Misguided Approach to Defining “American” Companies What does it mean to be an American company? Recently, U.S. Trade Representative Ambassador Tai questioned whether being headquartered in the U.S. is sufficient for a company to be American or whether

Retirement Savings & Investment Tax Treatment | Tax Foundation Skip to content Table of Contents Key Findings On average, in the Organisation for Co-operation and Development (OECD) and select European Union countries, long-term capital gains from the sale of shares are taxed at a top rate of 18.78 percent, and dividends are taxed at a

2024 State Income Tax Rates and Brackets | Tax Foundation Skip to content Table of Contents Key Findings Individual income taxes are a major source of state government revenue, constituting 38 percent of state taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover

2024 Personal Income Tax Rates in Europe | Tax Foundation Skip to content Table of Contents Most countries’ personal income taxes have a progressive taxA progressive tax is one where the average tax burden increases with income. High-income families pay a disproportionate share of the tax burden, while low- and middle-income taxpayers shoulder a relatively

US Deficit: CBO Budget & Economic Outlook: 2024 to 2034 Skip to content Home • Blog • Major Takeaways from CBO’s Updated Long-Term Outlook Last week, the Congressional Budget Office (CBO) released an updated Budget and Economic Outlook. The report (released annually) presents the agency’s current projections of major fiscal and economic trends for the