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Evaluating Proposals to Increase the Corporate Tax Rate and Levy a Minimum Tax on Corporate Book Income

Table of Contents Key Findings President Joe Biden and congressional policymakers have proposed several changes to the corporate income tax, including raising the rate from 21 percent to 28 percent and imposing a 15 percent minimum tax on the book income of large corporations. The proposals are being considered to raise revenue for new spending […]

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Tax-A-Rama in Maryland

The potential override of Gov. Larry Hogan’s (R) veto of a digital advertising tax (HB732) looms large over the current legislative session in Maryland, though it is only one of many tax proposals under consideration in the state. House Bill 732 passed with a veto-proof majority in 2020, and, if lawmakers override the governor’s veto, […]

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What Federal Policymakers Can Learn from Business Tax Refunds in 2020

A new report by the Government Accountability Office (GAO) highlights the ways federal policymakers and the White House could build on the federal response to the coronavirus pandemic and economic downturn. As part of this report, GAO reviewed how the relief measures for businesses and individuals have worked through 2020, including information about tax refund […]

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National Taxpayer Advocate’s Report Is a Road Map to Simpler Pandemic Relief Provisions

Last week, National Taxpayer Advocate Erin M. Collins released her first report to Congress on the challenges taxpayers have faced related to the coronavirus pandemic, including the tax changes made through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The National Taxpayer Advocate’s findings show that policymakers should prioritize simplicity in the next round […]