The Effect of the House GOP Blueprint for Tax Reform on the Exchange Rate of the Dollar

The Effect of the House GOP Blueprint for Tax Reform on the Exchange Rate of the Dollar

The Effect of the House GOP Blueprint for Tax Reform on the Exchange Rate of the Dollar
The House GOP Blueprint for tax reform would cut business and individual tax rates, allow immediate expensing of capital outlays (instead of depreciation) for tax purposes, and end the estate tax. It would replace current business income taxes with a “destination-based cash flow tax” or DBCFT. The tax rate would be 20% for corporations, and […]
Source: Tax Policy – The Effect of the House GOP Blueprint for Tax Reform on the Exchange Rate of the Dollar

Lessons from Australia’s GST Implementation for Considering the U.S. Border Adjustment

Lessons from Australia’s GST Implementation for Considering the U.S. Border Adjustment

Lessons from Australia’s GST Implementation for Considering the U.S. Border Adjustment
As much as people want tax reform in the abstract, they often fear it when the details are made public—especially if the reforms mark a radical departure from the current system. At the end of the day, many people would rather live with the devil they know than the devil they don’t know.   We […]
Source: Tax Policy – Lessons from Australia’s GST Implementation for Considering the U.S. Border Adjustment

Is Tax Reform Coming to Louisiana?

Is Tax Reform Coming to Louisiana?

Is Tax Reform Coming to Louisiana?
Today, Governor John Bel Edwards of Louisiana (D) released initial details of his tax reform plan. Several components come from recommendations made by a tax task force, whose report was issued earlier this year, and our reform book on Louisiana, Louisiana Fiscal Reform, A Framework for the Future. The plan is wide-reaching, with changes to […]
Source: Tax Policy – Is Tax Reform Coming to Louisiana?

Georgia’s Small Businesses and the Individual Income Tax

Georgia’s Small Businesses and the Individual Income Tax

Georgia’s Small Businesses and the Individual Income Tax
In a recent critique of proposed individual income tax reductions in Georgia, the Georgia Budget and Policy Institute (GBPI) questioned the suggestion that lower rates were important to small businesses, emphasizing that “most taxpayers aren’t small businesses with employees,” pointing out that “[o]nly 2.7 percent of all personal income taxpayers nationwide are owners of bona […]
Source: Tax Policy – Georgia’s Small Businesses and the Individual Income Tax

The Return of Gross Receipts Taxes

The Return of Gross Receipts Taxes

The Return of Gross Receipts Taxes
Gross receipts taxes are rarely used by states. Only five states, Delaware, Nevada, Ohio, Texas, and Washington, have statewide gross receipts tax (see map below). However, a number of states could be joining to help close budget gaps–this is the wrong approach for states. The majority of states repealed their gross receipts taxes in the […]
Source: Tax Policy – The Return of Gross Receipts Taxes