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Income Taxes › Tax Credits › Tax Rates

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Baker Donelson

SALT Select Developments - May 2024

Baker Donelson on

State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Baker Donelson

SALT Select Developments - April 2024

Baker Donelson on

State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Bowditch & Dewey

Massachusetts Tax Reform Enacted – Estate Tax Exemption Increase and Other Help for Residents

Bowditch & Dewey on

The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax Reform: Establishes a non-refundable credit of $99,600 for each estate,...more

Brownstein Hyatt Farber Schreck

Taxation & Representation. Feb. 15, 2023

Brownstein Hyatt Farber Schreck on

TAX TIDBIT - Progress on Werfel and Blatchford Appointments, Other Nominations Delayed. Following the retirement of former IRS Commissioner Chuck Rettig in early November 2022, the tax-administration agency has been...more

Bowditch & Dewey

Tax Year 2023 Annual Inflation Adjustments

Bowditch & Dewey on

The Internal Revenue Service has announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions including tax rate schedules and other tax changes. Here are some key highlights...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Recent State Income Tax Rate Changes for Individuals and Corporations

Mitchell, Williams, Selig, Gates & Woodyard,... on

Despite rising inflation and interest rates, some Arkansas individuals and corporations can look forward to relief when filing their state income tax returns for this year and next year. Such relief will come in the form of...more

Stoel Rives - Mineral Law

Tax Actions by the Alaska Legislature in 2022

Stoel Rives - Mineral Law on

In my most recent column for State Tax Notes, I look at several bills that did and didn’t pass in the latest session of the Alaska State Legislature, which adjourned in May, and at what may be on the horizon....more

A&O Shearman

Inflation Reduction Act of 2022: New Corporate Book Minimum Tax and Changes for Carried Interests

A&O Shearman on

On July 27, 2022, Senators Manchin and Schumer announced that they agreed to a proposed reconciliation package, the Inflation Reduction Act of 2022, H.R. 5376 (the “Bill”). If enacted, the Bill would finance climate programs,...more

Ballard Spahr LLP

Pennsylvania Cuts Corporate Income Tax Rates, Makes Other Significant Tax Changes

Ballard Spahr LLP on

Pennsylvania’s budget season just ended and Act 53 of 2022 (Act 53), made many significant changes to the Commonwealth’s business and individual taxes....more

Bowditch & Dewey

IRS Issues 2022 Inflation Adjustments

Bowditch & Dewey on

The IRS recently issued the 2022 annual adjustments for numerous tax provisions that are by law to be adjusted annually. These adjustments include changes to tax brackets and standard deductions. Popular provisions that were...more

Davies Ward Phillips & Vineberg LLP

Revised U.S. Tax Proposals Will Affect Foreign Investment

Davies Ward Phillips & Vineberg LLP on

The U.S. House Committee on Rules recently released an updated version of the Build Back Better Act (Act) to reflect the White House’s Build Back Better framework (Framework) announced on the same day (October 28, 2021). ...more

Bowditch & Dewey

Impact of House Ways and Means Tax Proposal on Domestic Businesses

Bowditch & Dewey on

On September 13, 2021, the Congressional House Ways and Means Committee introduced 880 plus pages of legislative tax proposals to help fund the House’s proposed $3.5 trillion stimulus package. Below are tax proposals relevant...more

Alston & Bird

The Other Green Book: Treasury Explains Administration’s Tax Proposals

Alston & Bird on

With the release of its FY 2022 revenue proposals, the Biden Administration explains and refines some of the tax priorities raised on the campaign trail. Our International Tax Group reads the tea leaves to find the...more

Morgan Lewis

Tax Reform in the American Families Plan

Morgan Lewis on

The Biden-Harris administration on April 28 introduced the American Families Plan (AFP), a $1.8 trillion legislative framework including provisions to “grow the middle class, expand the benefits of economic growth to all...more

Dechert LLP

Biden 2021 Tax Proposals: Individuals & Corporations

Dechert LLP on

The White House has released several tax proposals, culminating with remarks by President Biden in a Congressional address. These proposals include the American Families Plan, for which the White House released a fact sheet...more

BakerHostetler

White House Adds Details to Its Far-Reaching 2021 Tax Reform Plans

BakerHostetler on

The White House today released The American Families Plan, which includes some new details regarding the Biden administration’s proposed 2021 tax reform. The tax changes expected to be enacted this year will be substantial...more

Pillsbury Winthrop Shaw Pittman LLP

New York Budget Raises Tax Rates, Provides Relief to Address Pandemic

Pillsbury Winthrop Shaw Pittman LLP on

New York’s Fiscal Year 2022 budget increases taxes on corporations and high earners and provides relief to pandemic-hit industries. Temporary increases to tax rates on corporations, individuals, and tax credits for...more

Proskauer - Tax Talks

The Made in America Tax Plan: The Biden Administration Outlines its Tax Reform Proposals

Proskauer - Tax Talks on

On March 31, 2021, the White House released a factsheet describing the “American Jobs Plan”, a $2.3 trillion proposal for infrastructure spending that also contains certain significant tax credits, and the “Made in America...more

Partridge Snow & Hahn LLP

President Biden's Proposed Infrastructure Plan Includes Business Tax Provisions to Incentivize Infrastructure Investments and Fund...

Partridge Snow & Hahn LLP on

On Wednesday, March 31st, President Biden released a summary of his administration’s proposed The American Jobs Plan (the “TAJP”). TAJP is a $2 trillion proposal focusing on public domestic infrastructure investments. To help...more

Kelley Drye & Warren LLP

The Biden Tax Plan

Kelley Drye & Warren LLP on

The Democrats’ “sweep” of the White House and both chambers of Congress means that it is all but inevitable that tax legislation will be introduced in 2021, but the razor-thin nature of the Democrats’ majority in Congress...more

Proskauer - Tax Talks

Tax Proposals of President-Elect Biden and Other Prominent Democrats

Proskauer - Tax Talks on

This blog summarizes some of the tax proposals of President-elect Joe Biden and other prominent Democrats. Biden’s Proposals - Increased Individual Tax Rate - Biden would increase the top marginal income tax rate...more

Jackson Walker

Tax Planning for a Biden Presidency

Jackson Walker on

This past November, we outlined selected tax law changes that President-elect Joe Biden has proposed, both in speaking engagements and on his campaign website, some or all of which could be enacted in 2021 or future years. ...more

Bowditch & Dewey

IRS Issues 2021 Inflation Adjustments

Bowditch & Dewey on

The IRS recently issued the 2021 annual adjustments for numerous tax provisions that are by law to be adjusted annually. These adjustments include changes to tax brackets and standard deductions. Popular provisions that were...more

Jackson Walker

Tax Planning for a Biden Presidency

Jackson Walker on

With Biden as the projected President-Elect (subject to pending federal litigation and the Electoral College vote), tax planning for late 2020, 2021, and beyond is top of mind for many businesses and individuals....more

Bradley Arant Boult Cummings LLP

Snapshot: Corporate Income and Franchise Taxes in the USA

Bradley Arant Boult Cummings LLP on

How is taxable income determined in your state? To what extent is the state income tax base aligned with the federal income tax base? Alabama levies a corporate income tax on business entities classified as taxable or “C”...more

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