Search for: "Katherine Loughead"
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25 Aug 2022, 7:33 am
Key Findings Property taxes are the primary source of tax collections at the local level, responsible for 72.2 percent of local tax revenue in fiscal year 2020 (the most recent year for which data are available). [read post]
13 Apr 2022, 1:50 am
Key Findings Exempting groceries from the sales tax base reduces economic efficiency without achieving its objective of enhancing tax progressivity. [read post]
3 Mar 2022, 1:50 am
“Frothy eloquence neither convinces nor satisfies me,” the 19th century Congressman Willard Duncan Vandiver allegedly declared. [read post]
26 Jan 2022, 8:30 am
Chairman Smith and Members of the Committee: My name is Katherine Loughead, and I am a Senior Policy Analyst at the Tax Foundation. [read post]
18 Jan 2022, 1:55 am
[6] Katherine L [read post]
15 Jul 2021, 9:55 am
Table of Contents Key Findings Introduction Arizona Idaho Iowa Louisiana Missouri Montana Nebraska New Hampshire Ohio Oklahoma Wisconsin Conclusion Trend: States Reform Income Taxes To Provide Relief And Remain Competitive Key Findings As states close their books for fiscal year 2021, many have much more revenue on hand than they anticipated last year. [read post]
30 Jun 2021, 7:55 am
Ohio Individual Income Tax Rates and Brackets, Old & New Old Individual Income Brackets Old Rate New Individual Income Brackets New Rate $0 0% $0 0% >$22,151 2.850% >$25,000 2.765% >$44,251 3.326% >$44,251 3.226% >$88,451 3.802% >$88,451 3.688% >$110,651 4.413% >$110,651 3.990% >$221,301 4.797% Sources: Katherine Loughead, “State Individual Income Tax Rates and Brackets for 2021,” Tax Foundation, Feb. 17,… [read post]
3 Jun 2021, 10:36 am
Ohio Income Tax Rates, Current & Proposed Individual Income Brackets Current Rate House Proposal Senate Proposal $0 0% 0% 0% >$22,151 2.850% 2.793% 2.708% >$44,251 3.326% 3.259% 3.160% >$88,451 3.802% 3.726% 3.612% >$110,651 4.413% 4.325% 4.192% >$221,301 4.797% 4.701% 4.557% Sources: Katherine Loughead, “State Individual Income Tax Rates and Brackets for 2021,” Tax Foundation, Feb. 17, 2021,… [read post]
25 May 2021, 2:55 am
Table of Contents Key Findings Introduction A Brief Overview of GILTI Calculating GILTI Tax Liability State Taxation of GILTI Is Complex and Uncompetitive State Taxation of GILTI Raises Constitutional Issues Current Status of States’ Taxation of GILTI The Impact on States of the Biden Administration’s Proposed Federal Changes to GILTI A Brief Overview of FDII Current State Treatment of the FDII Deduction and the Impact of the Biden Administration’s Proposed Changes Recent… [read post]
1 Apr 2021, 6:59 am
Table of Contents Key Findings Introduction Conformity Overview Net Operating Loss (NOL) Deduction Under § 172 Business Interest Expense Limitation Under § 163(j) Paycheck Protection Program Income Exclusion and Expense Deduction Unemployment Compensation Tax Exclusion Conclusion Key Findings The Coronavirus Aid, Relief, and Economic Security (CARES) Act made temporary structural changes to the federal tax code to enhance business liquidity, including more generous treatment of net… [read post]
4 Mar 2021, 12:16 pm
My name is Katherine Loughead, and I am a Senior Policy Analyst with the Tax Foundation, a nonprofit, nonpartisan tax policy research organization based in Washington, D.C. [read post]
1 Mar 2021, 2:55 am
Table of Contents Key Findings Introduction Proposed Individual Income Tax Phaseout Proposed Sales Tax Changes Proposed Excise Tax Changes Conclusion Key Findings Mississippi House Bill 1439 would phase out the state’s individual income tax by making the personal exemption more generous over time, funded by increases to sales and excise tax rates and the dedication of future revenue growth to the tax’s elimination. [read post]
3 Feb 2021, 5:55 am
latest. [5] Katherine Loughead, “Colorado Proposition 116: Will Voters Reduce the State Income Tax Rates? [read post]
5 Jan 2021, 6:00 am
Table of Contents Key Findings Introduction Corporate Income Tax Changes Individual Income Tax Changes Sales and Use Tax Changes Property and Wealth Tax Changes Tobacco, Vapor, and Marijuana Tax Changes Transportation Tax Changes Miscellaneous Excise Tax Changes Other Tax Changes Retroactive Tax Changes Adopted in 2020 Key Findings Twenty-six states and the District of Columbia had notable tax changes take effect. [read post]
13 Oct 2020, 6:25 am
[1] Key Findings An ideal tax code is one that is simple, transparent, neutral, and stable, but many states, including Nebraska, have certain tax provisions that depart from these principles of sound tax policy. [read post]
18 Sep 2020, 8:43 am
Key Findings State tax collections declined 5.5 percent in FY 2020 according to new Census data, though actual losses are likely to be significantly lower after accounting for the shifting of income tax collections into the current fiscal year due to delayed tax filing deadlines. [read post]
4 Feb 2020, 6:00 am
Key Findings Individual income taxes are a major source of state government revenue, accounting for 37 percent of state tax collections in fiscal year (FY) 2017. [read post]
4 Feb 2020, 6:00 am
Key Findings Individual income taxes are a major source of state government revenue, accounting for 37 percent of state tax collections in fiscal year (FY) 2017. [read post]
3 Feb 2020, 2:13 pm
Here with me today are my brilliant colleagues Erica York and Katherine Loughead. [read post]
28 Jan 2020, 6:00 am
Kwall, “The Repeal of Graduated Corporate Tax Rates,” Tax Notes, June 27, 2011, 1395. [5] Katherine Loughead, “State Tax Changes as of January 1, 2020,” Dec. 20, 2019, https://taxfoundation.org/2020-state-tax-changes-january-1/. [6] Katherine Loughead, “Five States Accomplish Meaningful Tax Reform in the Wake of the Tax Cuts and Jobs Act,” Tax Foundation, July 23, 2018,… [read post]
