The tax reform of 1986 eliminated tax deductibility of state sales taxes, but retained it for state
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The tax reform of 1986 eliminated tax deductibility of state sales taxes, but retained it for state income taxes. What implications should this have had for how states raised revenues? In fact, the share of individual and corporate income taxes in total state revenues today is lower than it was in 1980. How might you explain this?
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The elimination of tax deductibility for state sales taxes in the 1986 tax reform could have encoura...View the full answer
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Related Book For 
Economics Of The Public Sector
ISBN: 9780393925227
4th Edition
Authors: Joseph E. Stiglitz, Jay K. Rosengard
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