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Overview

Overview. Recent state tax reform efforts Drivers of reform Upcoming elections / 2014 predictions. 2012/3 Reform Proposals. Major reform Minor reform Margins Tax. Policy. What tax system is best for my state? Minimize disincentives to investment and employment OR

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Overview

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Presentation Transcript

  1. Overview • Recent state tax reform efforts • Drivers of reform • Upcoming elections / 2014 predictions

  2. 2012/3 Reform Proposals Major reform Minor reform Margins Tax

  3. Policy What tax system is best for my state? • Minimize disincentives to investment and employment OR • Maximize social justice

  4. (Presidential?) Politics • Republicans: • Income taxes bad / consumption taxes good • Loopholes are bad • Democrats: • Consumption taxes bad / income taxes good • Loopholes are bad

  5. Changing Economy • Consumption: 1930s v. today • Reliance/impact on manufacturing • Rate pressures

  6. Taxing Business Inputs • Results in tax “pyramiding” • Places companies selling outside the state at competitive disadvantage • Distorts economy by encouraging vertical integration • Hides the true cost of government

  7. 2014 Reform Proposals Broad Reform Narrow Reform Margins Tax

  8. Questions? Joe Crosby Principal MultiState Associates jcrosby@multistate.com 703.684.1110 (o) 207.749.4701 (m)

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