Indiana’s 201% hike in its cigarette excise tax, which takes effect July 1, will reshape consumer behavior, and not necessarily in the way lawmakers expect.. While the intent is to boost revenue ...

Lawmakers are debating two proposals in the latest reconciliation bill that could dismantle the philanthropic sector, a sharply tiered excise tax on private foundation investment income and a ...

A proposal that passed the House last week as part of the “one big, beautiful bill” would increase the excise tax on private charitable foundations by up to sixfold.

GOP motivations for the tax increase appear to be twofold in that it would help fund tax cuts and serve as a punitive measure for colleges they believe have gone “woke.” In 2023, a total of 56 ...

The excise tax explicitly incorporates the anti-conduit rules under U.S. Code Section 7701(l) by treating any multiparty arrangement involving the sender as a financing transaction.

The excise tax debate has flagged many problems but not yet gotten to the core issue. Its opponents are certainly correct in pointing out that it will reduce charitable giving.

California confirmed its planned cannabis excise tax increase from 15% to 19%, effective July 1, 2025. Industry leaders warn the move could devastate legal operators already struggling with ...

House Bill 1183 will simplify how motor vehicle excise tax is determined for vehicle purchases by requiring the tax to be based on the actual sales price of the vehicle.

Quarterly payroll and excise tax returns normally due on Jan. 31, April 30, and July 31, 2025. Calendar-year partnership and S corporation returns normally due on March 17, 2025.

The tax bill released by House Republicans on Monday calls for escalating taxes on investment income at the nation’s foundations and universities, which means the richest foundations and universities ...

The One Big Beautiful Bill Act would pay for Trump’s campaign promises to make his 2017 tax cuts permanent, cut other taxes and boost spending for the border and defense.

House Bill 1183 will simplify how motor vehicle excise tax is determined for vehicle purchases by requiring the tax to be based on the actual sales price of the vehicle.