taxes

The tax map from last month shows how different U.S. states tax smoking and electronic nicotine delivery systems (ENDS). When vaping and ENDS goods are taxed more, smokers are less likely to switch to them.

In the past few years, many countries have taken steps to cut down on carbon emissions, such as putting in place environmental rules, emissions trading systems (ETSs), and carbon taxes.

The State Business Tax Climate Index from the Tax Foundation lets business leaders, officials in government, and taxpayers see how their states' tax systems compare to others. There are many ways to show how much a state government gets in taxes, but the Index is meant to show how well states set up their tax systems and offer suggestions for how to make them better.

Capital allowances play a significant part in a nation's corporate tax base and can influence investment choices, having a significant impact on the economy even if they are occasionally disregarded in talks about corporate taxation.

The Internal Revenue Service (IRS) has published a feasibility assessment on the viability of a government-run direct file program for taxpayers, ahead of the agency's anticipated launch of a Direct eFile pilot program in the approaching 2024 tax filing season.

Many European governments granted temporary gasoline tax reductions in reaction to a year of high energy price hikes in 2022. By 2023, European gas and diesel taxes had essentially returned to pre-Russia-Ukraine war levels. The European Union (EU) mandates member states to impose a minimum excise duty of €0.36 per liter ($1.55 per gallon) on gasoline (petrol).

A total of $80 billion in additional taxes were levied by the Trump administration in numerous rounds of tariffs on $380 billion worth of goods (based on 2018 values), including solar panels, washing machines, and thousands of products from China. Other nations retaliated by introducing their own retaliatory levies. Except for limited exemptions or modifications to some steel and aluminum tariffs, as well as washing machine and solar panel levies, the Biden administration has mostly kept the tariffs in place.

Texas still has a lot of money coming in, and cutting property taxes is a top goal for the Lone Star State. But the most recent legislative session finished in a stalemate because the Senate and the House of Representatives couldn't agree on how to lower property taxes. The current special sitting of the legislature seems to be stuck as well.

The Fourth of July is next week. On that day, we celebrate the birth of our country. Many of us spend the day being patriotic, going to parades, spending time with friends and family, eating BBQ, and drinking good beer.

The federal tax code is still a major source of anger and debate among Americans and a barrier to economic growth and opportunity. Other countries, like Estonia, have shown that taxes can be collected in a less stressful and more effective way and still bring in enough money.