Tax Analysts Blog

Jun 1, 2016

In case you missed it, U.S.-based Terex Corp. has substantially altered its proposed merger with Finland’s Konecranes PLC. The original all-stock deal would have resulted in current Terex shareholders acquiring roughly 60 percent of the newly formed firm, which would have been based overseas. Instead, the two companies are now eyeing a much smaller cash and stock transaction that would be limited to an acquisition of two of Konecranes’ business units. Terex’s explanation for the change of plans is straightforward: The anticipated tax benefits are no longer available.

Jun 1, 2016

Mississippi Gov. Phil Bryant (R) recently signed what people are calling the largest tax cut in state history. The cuts will total about $415 million over the next 12 years. That's a lot, considering Mississippi's overall budget. One aspect of the measure (SB 2858) is good from a tax policy perspective: the phaseout of the state's corporate franchise tax.

May 31, 2016

Given the economic and political stakes, here is one question that Americans should want Donald Trump to answer: If elected, will he exercise the nuclear option and blow up Europe?

May 26, 2016

Donald Trump likes to compare himself to Ronald Reagan, especially when trying to explain how a former Democrat finds himself at the top of the GOP ticket. But Reagan and Trump have something else in common, too: The Gipper, just like The Donald, wanted to keep his tax returns private.

May 25, 2016

Let's be honest. Most people don't. In fact, most people don't think about taxes beyond complaining about them once in a while.

May 24, 2016

Australia's 2016 election is underway. On July 2 voters will determine whether to change prime ministers for the fifth time since 2010 or to return Malcolm Turnbull's Liberal government to a full term. Because of a radical Labor proposal on negative gearing and the Liberals pushing for a major corporate tax cut, tax policy is likely to play a major (if not deciding) role in the race.

May 23, 2016

When U.S. politicians like Bernie Sanders propose to expand Americans’ access to healthcare and higher education, they are met with the reflexive criticism that the U.S. should not aspire to be like Europe, citing (among other things) the high taxes that Europeans pay for these services. While Americans may disagree about whether the Danes and the Dutch are getting their money’s worth, they cannot disagree about the level of civility that many European elected officials display as they go about doing the people’s business, and the level of engagement of the citizens they represent.

May 19, 2016

The number of passthrough entities (which includes partnerships, limited liability companies, and S corporations) has been on the rise for the last 30 years. And along with the increase in the number of passthrough entities has been a decrease in the number of C corporations. According to the Tax Foundation, passthrough businesses now account for 94 percent of all businesses in the United States.

May 18, 2016

You don't see many due process clause cases arising from state taxation. Nor do you see many victories for taxpayers in those cases. A taxpayer won recently in the Ohio Supreme Court. The case, which was correctly decided, hinges on facts that should be important to anyone doing interstate work.

May 12, 2016

Donald Trump has now reneged on his promise to release his personal tax returns. That should come as no surprise, given The Donald’s difficulty in keeping his story (and his excuses) straight. But in saying that he expects to disclose no tax returns before the November election, Trump is set to become the first major party nominee since 1976 to elevate his personal privacy over the public interest.