Our International Tax Competitiveness Index has been used to compare the tax systems of OECD countries since 2014. At the beginning of that period, the United States ranked 28th out of 36 countries in the Index. Following the 2017 U.S. tax reform, the rank improved dramatically to 20th, and the U.S. now ranks 21st. The […]
Online shopping is nothing new in our increasingly digital world, but 2020’s extended lockdowns due to the coronavirus pandemic have made it even more popular. You can order groceries, get a hot meal delivered, or even buy a kite for socially-distanced fun, all without leaving your couch. The system is simple and streamlined—at least for […]
Next month, Arizona voters will decide whether to create a new fifth income tax bracket that would raise the top rate from 4.5 percent to 8 percent. Proposition 208 would create an additional 3.5 percent tax on income above $250,000 ($500,000 for joint filers) to generate additional revenue for education. The tax would be levied […]
Launch Interactive Tool Note: Each year we review and improve the methodology of the Index. For that reason, prior editions are not comparable to the results in this 2020 edition. All data and methodological notes are accessible in our GitHub repository. Introduction The structure of a country’s tax code is an important determinant of its economic […]
Spain’s upper house passed two major tax bills today: the financial transaction tax (FTT) and the digital service tax (DST). Both taxes will go into effect in January 2021, three months after their publication in the Spanish Official Gazette. The FTT is a 0.2 percent tax on the purchase of shares of Spanish companies with […]
Last week, the Congressional Budget Office (CBO) published an updated analysis of the distribution of American households’ income and tax burdens for 2017. The new CBO data reinforces existing trends in household income and tax burdens, showing that the federal tax system is progressive and incomes continued to rise in 2017 as part of the […]
Oregon voters will weigh in on taxation of tobacco and nicotine products next month. If voters pass Measure 108, the Tobacco and E-Cigarette Tax Increase for Health Programs Measure, it would increase taxes on cigarettes and cigars and introduce a new tax on vapor products beginning January 2021. The measure was passed by the Oregon […]
Note: This report was originally published on March 11, 2019, based on the information in Governor J.B. Pritzker’s “Fair Tax for Illinois” presentation, delivered on March 7, 2019. The report has been updated to reflect the rates as adopted in Public Act 101-0008, which will take effect if a constitutional amendment is approved by voters on […]
Featured Ballot Measures Arizona Proposition 207 Arizona Proposition 207 would legalize recreational marijuana and tax retail sales at 16 percent of retail price. Arizona forecasts roughly $166 million in excise tax revenue when the market has matured, and this revenue would be allocated to community colleges, police departments, fire departments, transportation funding, and a new Justice […]
This Election Day, Colorado voters will weigh in on Proposition 116, the Decrease Income Tax Rate from 4.63% to 4.55% Initiative. It would permanently reduce the state’s flat income tax rate from 4.63 to 4.55 percent and be retroactive to January 1, 2020, meaning taxpayers would benefit from the relief starting this year. It is […]