Highest in Minneapolis, Chicago, Virginia Beach, Seattle, and Washington, D.C.
Washington, D.C. – As many tourists and business travelers have learned, taxes on meals are sometimes higher than taxes on other goods. Of the 50 largest U.S. cities, 15 charge an additional meals tax on top of the regular sales tax, according to a new analysis by the Tax Foundation. The combined rates are highest in Minneapolis, Chicago, Virginia Beach, Seattle, and Continue reading →
New Study Has the Bottom Line on Tax Costs in All 50 States
Washington, D.C. – Taxes are a big cost for many businesses, and vary widely based both on state and market sector. Now, for the first time, the Tax Foundation has created a measurement of the bottom-line tax liability a firm would face doing business in each of the fifty Continue reading →
U.S. Corporations Need to Be Competitive at Home and Abroad
Tax Foundation president Scott Hodge. Via Tax Foundation
Washington, DC, February 21, 2012—Raising taxes on U.S. corporations with operations abroad will not help create jobs, but will only succeed in making American companies less competitive overall which means fewer jobs at home, according to the Tax Foundation.
“Prominent politicians, including President Obama, have suggested that companies that ‘ship jobs overseas’ should be subjected to higher corporate tax rates, but that characterization fundamentally misstates how the modern business world functions,” said Tax Foundation president Continue reading →