The Impact of Tax Revenue from Capital Gains Realizations on State Income Tax Revenue and Budget Conditions

2011 ◽  
Vol 31 (4) ◽  
pp. 31-50 ◽  
Author(s):  
DAVID L. SJOQUIST ◽  
ANDREW V. STEPHENSON ◽  
SALLY WALLACE
Keyword(s):  
Income Tax ◽  
Capital Gains ◽  
Tax Revenue ◽  
State Income Tax ◽  
State Income ◽  
The Impact ◽  
Income Tax Revenue

An Analysis of State Income Tax Revenue

1955 ◽  
Vol 21 (3) ◽  
pp. 289
Author(s):  
Charles R. Lockyer ◽  
James W. Martin
Keyword(s):  
Income Tax ◽  
Tax Revenue ◽  
State Income Tax ◽  
State Income ◽  
Income Tax Revenue

scholarly journals The Impact of Federal and State Income Tax Liabilities on Timber Investments in the Midwest and Northeast

2007 ◽  
Vol 24 (4) ◽  
pp. 245-251 ◽  
Author(s):  
Nathan R. Smith ◽  
Philip Bailey ◽  
Harry Haney ◽  
Debra Salbador ◽  
John Greene
Keyword(s):  
Income Tax ◽  
Tax Planning ◽  
Income Taxes ◽  
Forest Landowners ◽  
Middle Income ◽  
State Tax ◽  
State Income Tax ◽  
State Income ◽  
Lower Peninsula ◽  
The Impact

Abstract Federal and state income taxes are calculated for hypothetical forest landowners in two income brackets across 23 states in the Midwest and Northeast to illustrate the effects of differential state tax treatment. The income tax liability is calculated in a year in which the timber owners harvest $200,000 worth of timber. State income taxes ranged from highs of $13,427 for middle-income landowners and $18,527 for high-income landowners in Maine to no tax burden in New Hampshire and South Dakota. Calculated state and federal income taxes are based on 2004 tax regulations and rates. After-tax land expectation values calculated for a forest landowner in the Northern Lower Peninsula of Michigan illustrate the importance of tax planning on returns to a timber investment. The results support the need for adequate tax accounting.

scholarly journals The Impact of Federal and State Income Tax Liabilities on Timber Investments in the West

2008 ◽  
Vol 23 (2) ◽  
pp. 121-126
Author(s):  
Nathan R. Smith ◽  
Phillip Bailey ◽  
Harry Haney ◽  
Debra Salbador ◽  
John Greene
Keyword(s):  
Income Tax ◽  
Tax Planning ◽  
Income Taxes ◽  
The West ◽  
Forest Landowners ◽  
Middle Income ◽  
State Tax ◽  
State Income Tax ◽  
State Income ◽  
The Impact

Abstract Federal and state income taxes are calculated for hypothetical forest landowners in two income brackets across 13 states in the West to illustrate the effects of differential state tax treatment. The income tax liability is calculated in a year in which the timber owners harvest $200,000 worth of timber. State income taxes range from highs of $19,693 for middle-income and $34,993 for high-income landowners in Oregon to no income tax in Alaska, Nevada, Washington and Wyoming. After-tax land expectation values for a forest landowner in Oregon are also calculated to illustrate the importance of tax planning on returns to a timber investment. The need for adequate tax accounting is supported by the results.

An Exploration of State Income Tax Nexus: Does Economic Nexus Really Benefit States?

2013 ◽  
Vol 36 (1) ◽  
pp. 105-135 ◽  
Author(s):  
Ann Boyd Davis ◽  
Amy M. Hageman
Keyword(s):  
Interest Group ◽  
Income Tax ◽  
Data Availability ◽  
Tax Revenue ◽  
Corporate Tax ◽  
Critical Question ◽  
Variable Approach ◽  
Significant Difference ◽  
State Income Tax ◽  
State Income

ABSTRACT While considerable attention in the state taxation literature has been devoted to understanding how much of a corporation's income is subject to tax in a state, much less has been placed on understanding the more critical question of whether a corporation is subject to tax in a given state in the first place (Wildasin 2010). This study investigates the antecedents of state income tax nexus and the influence of economic nexus adoption on state corporate tax revenue collections with a two-stage least squares model using an instrumental variable approach and panel data from 2000–2009. The results of this model indicate that adoptions of economic nexus standards are more common in states with a weaker domiciled business group presence, consistent with interest group theory; adoptions are also more common among states with no required combined reporting, no NOL carryback provisions, the imposition of an alternative minimum tax (AMT), and a higher gross state product. Interestingly, after the first year of adoption, states that adopt economic nexus standards have no statistically significant difference in corporate tax revenue collections compared to those that follow a physical presence standard. In additional analyses, we determine that the interactive influences between diffusion and political factors and between diffusion and interest group factors also affect states' economic nexus adoptions. These results contribute to the taxation literature by suggesting that states' economic nexus standard adoptions are carried out for interest group, political, and regional diffusion reasons, and are not associated with any long-term discernible effects on state corporate taxation revenues. Data Availability: The data used in this study are available from public sources identified in the text and Table 2.

scholarly journals Economic impacts of illness in older workers: quantifying the impact of illness on income, tax revenue and government spending

2011 ◽  
Vol 11 (1) ◽  
Author(s):  
Deborah J Schofield ◽  
Rupendra N Shrestha ◽  
Richard Percival ◽  
Megan E Passey ◽  
Simon J Kelly ◽  
...  
Keyword(s):  
Government Spending ◽  
Older Workers ◽  
Income Tax ◽  
Economic Impacts ◽  
Tax Revenue ◽  
The Impact ◽  
Income Tax Revenue

The effect of a state income tax on migration: the example of Connecticut

2016 ◽  
Vol 38 (1) ◽  
pp. 113-140
Author(s):  
Whitney B. Afonso
Keyword(s):  
Tax Policy ◽  
Income Tax ◽  
State Level ◽  
Good Deal ◽  
Income Taxes ◽  
The State ◽  
State Income Tax ◽  
State Income ◽  
Income Tax Policy ◽  
The Impact

AbstractState-level income tax policy is a hotly debated topic in both academic and political spheres. Although economic theory and some empirical analyses suggest that larger income tax burdens affect migration decisions, there is also a good deal of empirical evidence showing that tax policy has little to no effect. This lack of consensus in the academic literature is echoed in the political world, where many states are debating whether to eliminate income taxes or reduce rates as a means of spurring economic growth. Connecticut’s adoption of an income tax policy in 1991 provides a unique opportunity to analyse the impact of a sizable income tax policy change on migration. The results suggest that Connecticut’s income tax deterred movement into the state but had no impact on exit from the state, resulting in a net loss in migration.

The Impact of Federal and State Income Taxes on Timber Income in the West Following the 1986 Tax Reform Act

1991 ◽  
Vol 6 (1) ◽  
pp. 15-20
Author(s):  
Pete Bettinger ◽  
H. L. Haney ◽  
W. C. Siegel
Keyword(s):  
Income Tax ◽  
Income Level ◽  
The State ◽  
High Income ◽  
Income Levels ◽  
Planning Strategy ◽  
State Income Tax ◽  
State Income ◽  
Timber Sale ◽  
The Impact

Abstract Nineteen eighty-eight federal and state income tax liabilities for a hypothetical nonindustrial private forest landowner case were calculated for 13 western states. The state portion of the total income tax liability for the passive case (without timber sale revenue) ranged from 15% in Arizona, California, and Colorado to 25% in Hawaii for the medium income level. It ranged from 12% in Arizona and Colorado to 20% in Hawaii for the high income level. The state portion for the active case (with timber sale revenue) ranged from 12% in Arizona and Colorado to 21% in Hawaii, and from 10% in Arizona to 19% in Hawaii for the medium and high income levels, respectively. Federal income tax deductions, capital gain exclusions, and tax rates are the most important state provisions affecting state income tax liability. The installment sale method of reporting timber sale revenue was used as one alternative tax planning strategy. Timber sale revenue was spread over a 2-year period to reduce the amount of taxable income subject to higher marginal rates. In the Oregon hypothetical case, the landowners who elected to use the installment sale method would save $1,240 and $616 at the medium and high income levels, respectively. West. J. Appl. For. 6(1):15-20.

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