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Tax Foundation

  1. Initial 2018 IRS tax return data shows that the TCJA expanded the use of several credits and deductions, made the standard deduction more favorable than itemizing, reduced tax refunds, and lowered taxes for most Americans.
  2. The legal dam against state and local income taxes in Washington state has sprung a leak. On July 15, a division of the Washington Court of Appeals issued a surprising ruling teeing up for the State Supreme Court an opportunity to reconsider a longstanding constitutional precedent prohibiting nonuniform taxes on income. The case involved a […]
  3. House Bill 966, the budget passed by the North Carolina General Assembly on June 27, contained some promising tax provisions that would have perpetuated the Tar Heel State’s reputation as a leader in tax reform. However, Governor Roy Cooper (D) vetoed the budget on June 28, and a successful override is unlikely. The governor’s July […]
  4. Last year, the European Union (EU) released a proposal to tax revenues from certain digital activities of multinational corporations. However, the EU could not reach an agreement on the digital services tax proposal. Although the OECD is currently working on an international solution for digital taxation, some countries have recently taken unilateral measures to implement […]
  5. Recently released data from The Pew Charitable Trusts shows the strain on state retirement systems nationwide as state pension funds strive to keep pace with benefits owed to public employees. Fiscal year 2017 (the most recent data available) saw a combined $1.28 trillion in state pension plan funding deficits. While massive, this was actually a decrease from […]

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