Category: Taxes

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Ranking Property Taxes on the 2020 State Business Tax Climate Index

Today’s map shows states’ rankings on the property tax component of the 2020 State Business Tax Climate Index. The Index’s property tax component evaluates state and local taxes on real and personal property, net worth, and asset transfers. The property tax component accounts for 16.6 percent of each state’s overall Index score. Property taxes matter to businesses for several...

Avalara’s Annual Sales Tax Report Highlights Major Changes for Nexus and Marketplace Law in 2020
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Avalara’s Annual Sales Tax Report Highlights Major Changes for Nexus and Marketplace Law in 2020

SEATTLE, WA — December 11, 2019 — Avalara, Inc. (NYSE: AVLR), a leading provider of cloud-based tax compliance automation for businesses of all sizes, today released its fifth annual sales tax changes report. Key findings in the report point to the continued impact of economic nexus laws, escalating tensions around marketplace facilitator laws, an increase...

Corporate Tax Rates around the World, 2019
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Corporate Tax Rates around the World, 2019

Key Findings In general, large industrialized nations tend to have higher statutory corporate income tax rates than developing countries. The worldwide average statutory corporate income tax rate, measured across 176 jurisdictions, is 24.18 percent. When weighted by GDP, the average statutory rate is 26.30 percent. Europe has the lowest regional average rate, at 20.27 percent...

Economic nexus bill introduced in Missouri
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Economic nexus bill introduced in Missouri

Last year at this time, Missouri lawmakers introduced a couple of bills relating to remote sales tax. Both sought to implement economic nexus, requiring out-of-state vendors with a certain amount of sales in the state to collect and remit sales tax. And both would require marketplace facilitators to handle sales tax on behalf of their...

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Kansas Tax Modernization: A Framework for Stable, Fair, Pro-Growth Reform

Introduction Kansas achieved a history of tax reform success throughout the 19th and 20th centuries, as evidenced by the dramatic evolution of Kansas’ code over the state’s 158-year history. The result is the current tax code, constructed primarily upon a relatively balanced three-legged stool of property, sales, and income taxes. While the majority of Kansans...

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What’s on the Tax Policy Agenda at the EU

This month a new five-year term for the European Commission began. Now led by President Ursula von der Leyen, the Commission has a broad agenda including several tax policy proposals, many carried over from the previous Commission. These include policies that would change the taxation of large multinationals corporations, and digital services, and target carbon...

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Comparing Wealth Taxation and Income Taxes

The wealth tax has been pushed to the forefront of tax policy debates to combat wealth inequality. Presidential candidates Senator Elizabeth Warren (D-MA) and Senator Bernie Sanders (I-VT) both released proposals to tax the rich as part of their 2020 platforms. Senator Warren’s tax plan features a wealth tax rate of 2 percent each year...

American Catalog Mailers Association building case against Wayfair decision
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American Catalog Mailers Association building case against Wayfair decision

The American Catalog Mailers Association (ACMA) is building a case against South Dakota v. Wayfair, Inc., the June 2018 decision by the Supreme Court of the United States that allows states to tax remote sales. If it can gather enough evidence, the ACMA will bring the case to Capitol Hill. In an email sent to...

Marketplace facilitators: Prepare to collect Michigan sales tax on third-party sales
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Marketplace facilitators: Prepare to collect Michigan sales tax on third-party sales

Michigan has required certain remote sellers to collect and remit sales tax since October 1, 2018. Now it’s looking to codify that requirement and expand it to marketplace facilitators. Michigan Department of Treasury Revenue Administrative Bulletin 2018-16 requires businesses with no physical presence in the state to register with the tax department, collect and remit...

Capital Gains Taxes in Europe
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Capital Gains Taxes in Europe

In many countries, investment income, such as dividends and capital gains, is taxed at a different rate than wage income. Today’s map focuses on how capital gains are taxed, showing how capital gains tax rates differ across European OECD countries. When a person realizes a capital gain—that is, sells a capital asset for a profit—they...