Institute on Taxation and Economic Policy14h
State Approaches to Global Intangible Low-Taxed Income (GILTI)
Many states with corporate income taxes include some amount of federally defined Global Intangible Low-Taxed Income (GILTI) in their tax bases. Twenty-one states plus D.C. include some amount of GILTI ...
Institute on Taxation and Economic Policy1d
New York Times: Musk Suggests His Team Will Scrutinize Social Security and Entitlement Spending
Elon Musk, the world’s richest individual, suggested on Monday that his government cost-cutting team would scrutinize Social Security and ...
Institute on Taxation and Economic Policy1d
Business Insider: Starbucks Likely Avoided Taxes on $1.3 billion in Profit Using a Swiss Subsidiary, a New Report Finds
A little-known Starbucks subsidiary in Switzerland appears to have played a big role in how much the coffee chain paid over the last decade in taxes, according to a new report. On paper, Starbucks ...
Institute on Taxation and Economic Policy1d
Centre for International Corporate Tax Accountability and Research: Starbucks’ Swiss Scheme: ‘Fair’ Trading or Global Tax Dodge?
A new report from CICTAR alleges that hidden behind its ‘ethical’ sourcing of coffee beans, Starbucks engages in major global tax avoidance. The report estimates that at least $1.3 billion has been ...
Institute on Taxation and Economic Policy4d
The Bulwark: Trump Wants to Use the IRS to Track Down Immigrants. They May Stop Paying Taxes.
Immigrants in the country illegally paid nearly $100 billion in taxes in 2022, according to a report by the Institute on Taxation and Economic policy. But that source of government revenue may soon ...
Institute on Taxation and Economic Policy4d
Washington Post: GOP Voucher Plan Would Divert Billions in Taxes to Private Schools
Congressional Republicans, backed by the White House, are pushing for a new tax credit that would direct billions of dollars a year to school voucher programs — and not just in conservative states.
Institute on Taxation and Economic Policy4d
Sen. Warren: Warren Slams Big Tech CEOs for Cozying Up to Trump Admin, Attempting to Score Billions in Tax Handouts at Working Families’ Expense
U.S. Senator Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, wrote to Elon Musk, CEO of Tesla; Jeff Bezos, CEO of Amazon; Mark Zuckerberg, CEO of Meta; Tim Cook, CEO of Apple; ...
Institute on Taxation and Economic Policy4d
Center on Budget and Policy Priorities: Maryland’s Tax Loophole for Billionaire Corporations Must End as Federal Cuts Loom for Working Families
Conservative revenue estimates released last month by the Institute on Taxation and Economic Policy (ITEP) project more than $700 million annually in new revenues for Maryland once you close the ...