Threat of Another Kansas Credit Downgrade after Veto of Tax Package

Threat of Another Kansas Credit Downgrade after Veto of Tax Package

Threat of Another Kansas Credit Downgrade after Veto of Tax Package

Last week, Kansas Governor Sam Brownback vetoed legislation passed by the legislature that would have closed the state’s controversial pass-through carveout and partially undone some of the individual income tax rate cuts enacted in 2012. Monday, Moody’s announced that the veto by the governor counts against the state’s credit rating, which impacts the cost of […]

Threat of Another Kansas Credit Downgrade after Veto of Tax Package was first published on Tax Foundation.


Source: Tax Policy – Threat of Another Kansas Credit Downgrade after Veto of Tax Package

What to Look for in President Trump’s Speech to Congress

What to Look for in President Trump’s Speech to Congress

What to Look for in President Trump’s Speech to Congress

Tonight, President Trump will deliver his first address to a joint session of Congress, in which he is expected to call for “tax and regulatory reform to get relief to hardworking Americans and American businesses,” according to a list of talking points released by the White House. In all likelihood, the speech will focus more […]

What to Look for in President Trump’s Speech to Congress was first published on Tax Foundation.


Source: Tax Policy – What to Look for in President Trump’s Speech to Congress

D.C. to Enact Remaining Tax Cuts After Projection of Large Recurring Surplus

D.C. to Enact Remaining Tax Cuts After Projection of Large Recurring Surplus

D.C. to Enact Remaining Tax Cuts After Projection of Large Recurring Surplus

All remaining tax cuts from the District of Columbia tax reform package passed in 2014 will take effect on January 1, 2018. An updated revenue estimate projects a sufficient recurring surplus to permit the increase of the standard deduction, personal exemption, and estate tax exemption level to federal conformity, and the reduction of the business […]

D.C. to Enact Remaining Tax Cuts After Projection of Large Recurring Surplus was first published on Tax Foundation.


Source: Tax Policy – D.C. to Enact Remaining Tax Cuts After Projection of Large Recurring Surplus

State Corporate Income Tax Rates and Brackets for 2017

State Corporate Income Tax Rates and Brackets for 2017

State Corporate Income Tax Rates and Brackets for 2017

Key Findings Forty-four states levy a corporate income tax. Rates range from 3 percent in North Carolina to 12 percent in Iowa. Six states — Alaska, Connecticut, Iowa, Minnesota, New Jersey, and Pennsylvania, and the District of Columbia — levy top marginal corporate income tax rates of 9 percent or higher. Seven states — Arizona, […]

State Corporate Income Tax Rates and Brackets for 2017 was first published on Tax Foundation.


Source: Tax Policy – State Corporate Income Tax Rates and Brackets for 2017

A Proposal to Simplify Ohio’s Local Income Tax Compliance

A Proposal to Simplify Ohio’s Local Income Tax Compliance

A Proposal to Simplify Ohio’s Local Income Tax Compliance

A few weeks ago, we covered Ohio Governor John Kasich’s budget proposal here. One provision that deserves additional attention is his plan to simplify municipal income tax collection, because the proposal is a thoughtful attempt to reduce compliance costs in Ohio’s worst-structured tax. Municipal income taxes are not necessarily unique to Ohio; however, the collection […]

A Proposal to Simplify Ohio’s Local Income Tax Compliance was first published on Tax Foundation.


Source: Tax Policy – A Proposal to Simplify Ohio’s Local Income Tax Compliance

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