Recent Changes to State GILTI Tax Base Treatment States’ treatment of GILTI has not changed significantly in recent years. Since our last map update on May 20, 2021, only two states, New Jersey and Minnesota, amended their state tax codes or provided supplementary regulatory guidance that invokes GILTI tax base changes: New Jersey decreased its
Taxes
If you are a member of a cooperative who received patronage dividends last year, you might find yourself holding Form 1099-PATR this tax season. Not sure what to do with this form? We’ve got your back. In this guide, we’ll go over everything you need to know about Form 1099-PATR, including why you received it,
Spain Windfall Tax on Energy & Banking Sectors Skip to content Home • Blog • Wartime Taxes Are Waging War on Sound Policy Choices Even though energy prices have declined from their recent peak, Spain is one of the few countries in Europe continuing to rely on windfall profits taxes to fund relief measures for
Trump Americans Abroad Tax Compliance Relief Proposal Skip to content Home • Blog • Americans Abroad Need Compliance Cost Relief Last week, Republican presidential nominee Donald Trump stated “I support ending the double taxationDouble taxation is when taxes are paid twice on the same dollar of income, regardless of whether that’s corporate or individual income.
South Dakota Grocery Tax Exemption: Initiated Measure 28 (IM-28) Skip to content Home • Blog • South Dakota’s Initiated Measure 28 Undermines Sales Tax Rate Reductions South Dakota’s Initiated Measure 28 proposes something popular, common, and, particularly in South Dakota’s context, misguided. The measure, which attempts to exempt groceries from the sales taxA sales tax
Changes from Last Year Estonia increased its excise duty on beer from €12.70 to €13.34 per hectoliter per alcohol content in January 2024, amounting to €0.01 more per drink. Finland decreased its excise duty on beer from €38.05 to €36.20 per hectoliter in January 2024, amounting to €0.03 less per drink. France increased its excise
Have you ever wondered how to make sense of Form W-2? A W-2 form is more than just a piece of paper; it’s a breakdown of your income, taxes, and other important details that your employer must provide to you and the IRS. This guide will explain everything you need to know about Form W-2,
Federal Budget Deficit: US Spending & Tax Collections Post-TCJA Skip to content Home • Blog • Another Huge Federal Deficit in Fiscal Year 2024 Despite Surging Corporate and Other Tax Collections The federal government’s budget deficit was $1.8 trillion in fiscal year 2024 (which ended in September), according to preliminary analysis by the Congressional Budget
If you’re a freelancer or a career independent contractor, you’re probably familiar with a W-9 form. As far as tax paperwork goes, it’s one of the better ones because it generally means you’ve won a new client! The form makes it easy to submit all your vital information to the client, so you can start
Blog January 31, 2024September 24, 2024 Tax Foundation Discussion on the Harms of Retaliatory Tax and Trade Policies Historical evidence and recent studies have shown that retaliatory tax and trade proposals raise prices and reduce the quantity of goods and services available to U.S. businesses and consumers, resulting in lower incomes, reduced employment, and lower
Updated for tax year 2024. Ah, the ultimate tax question: What should you do if you owe more taxes to the Internal Revenue Service (IRS) than you can afford? Discovering you owe more tax than expected can leave you feeling defeated. Not getting a tax refund is bad enough, but finding out you owe a
More Competitive EU Tax System: Recommendations | TFE Skip to content Home • Blog • What Does Moving Toward a More Competitive EU Tax System Mean? “There are two kinds of European nations. There are small nations and there are countries that have not yet realized they are small nations.” This quote by a former
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