Will States Step Up in 2020? We Hope So
Document Type
Article
Publication Date
2019
Abstract
We offer no predictions about the next year in tax, but we will offer what we hope will happen — if not next year, then soon. To paraphrase Chief Justice John Roberts, we hope that when it comes to the taxation of multinational corporations in particular, states will act more like the “separate and independent sovereigns” that they are. often rely on volatile revenue sources. More stable tax bases, like the sales tax and the property tax bases, are riddled with design flaws, from the sales tax base not including services and intangibles to the property tax failing to provide substantial, and automatic, circuit breakers. The corporate tax continues to yield less as corporations earn more.
Recommended Citation
David Gamage and Darien Shanske,
Will States Step Up in 2020? We Hope So, 94 Tax Notes State 977
(2019).
Available at: https://scholarship.law.missouri.edu/facpubs/1138