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Multinational Effective Tax Rates; Ohio and Illinois Tax Reform; and 2014 state income tax rates and brackets.

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Tax Foundation

Ohio Tax Reform in 2014: Framing the Conversation

By Scott Drenkard

Tax policy changes in Ohio over the last few years have been a mixed bag. While income tax rates were cut during the 2013 legislative session, policymakers also enacted an increase in the state sales tax and a problematic small business carve-out that distorts the individual income tax base. Most harmfully, the 2013 tax package increased the state’s reliance on the Commercial Activities Tax (CAT) a tax which is routinely the subject of scrutiny from tax scholars. Continue Reading...

In the news: Law360 (subscription required), GONGWER Ohio (subscription required)

Moving to a Progressive Income Tax Would Increase Taxes on the Majority of Illinois Employers

By Liz Malm
Legislation currently being considered in Illinois would amend the state’s constitution to allow for a progressive individual income tax. Main rate structures being discussed would institute top rates ranging from 8 to 11 percent. Continue Reading...

How People Respond to Investment Taxes and What This Means for Economic Growth

By Andrew Lundeen
Capital gains realizations and dividend payouts increased significantly between 2011 and 2012, ahead of a tax increase in 2013. Continue Reading...

Slower Growth through “Tax Reform”: The Baucus Capital Cost Recovery Proposal

By Michael Schuler
The Tax Foundation’s Taxes and Growth Model was used to estimate the long-run effects on the U.S. economy and federal revenue of enacting the capital cost recovery plan developed by Senate Finance Committee staff under the guidance of Senator Max Baucus. Continue Reading...

New Study Finds U.S. Multinationals Pay Extremely High Effective Tax Rate

By William McBride
Next Tuesday the Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations will investigate Caterpillar, the Peoria, Illinois-based maker of bulldozers and other machinery. The issue is profit shifting out of the U.S. to avoid the high U.S. corporate tax rate, which is the highest in the developed world. Continue Reading...

State Personal Income Tax Rates and Brackets 2014 Update

By Lyman Stone
Income taxes are a major, and often complicated, component of state revenues. Furthermore, unlike sales or excise taxes which individuals pay indirectly, income taxes are levied directly on individuals, meaning that income taxes figure especially prominently in any discussion of tax burdens and public policies. Continue Reading...
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