EY COST 2011 50-state total business tax report

EY COST 2011 50-state total business tax report - Total...

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Unformatted text preview: Total state and local business taxes State-by-state estimates for fiscal year 2010 July 2011 The authors Andrew Phillips is a senior manager in the Quantitative Economics and Statistics Practice of Ernst & Young LLP. He has extensive experience working on state and local tax issues for both public and private sector clients. He has a BA in Economics from Emory University. Robert Cline is the National Director of State and Local Tax Policy Economics of Ernst & Young LLP. Robert is the former director of tax research for the states of Michigan and Minnesota. He has a PhD in Economics from the University of Michigan. Thomas Neubig is the National Director of Quantitative Economics and Statistics of Ernst & Young LLP. He is the former director and chief economist of the U.S. Treasury Departments Of f ce of Tax Analysis. Tom is a former president of the National Tax Association. He has a PhD in Economics from the University of Michigan. Julia Thayne is an analyst for the Quantitative Economics and Statistics Practice of Ernst & Young LLP. She has a BA in Economics from Emory University. This study was prepared by the Quantitative Economics and Statistics Practice (QUEST) of Ernst & Young LLP in conjunction with the Council On State Taxation (COST). QUEST is a group of economists, statisticians and tax policy researchers within Ernst & Young LLPs National Tax Practice, located in Washington, DC. QUEST provides quantitative advisory services and products to private and public sector clients that enhance business processes, support regulatory compliance, analyze proposed policy issues and provide litigation support. COST is a nonpro f t trade association based in Washington, DC. COST was formed in 1969 as an advisory committee to the Council of State Chambers of Commerce and today has an independent membership of nearly 600 major corporations engaged in interstate and international business. COSTs objective is to preserve and promote the equitable and nondiscriminatory state and local taxation of multi jurisdictional business entities. Total state and local business taxes State-by-state estimates for fiscal year 2010 Executive summary This study presents detailed, state-by-state estimates of the state and local taxes paid by businesses for f scal year 2010, and it is the ninth annual report prepared by Ernst & Young LLP in conjunction with COST. In addition to presenting tax estimates for the most recent f scal year, the study examines business taxes over the past business cycle, describing the impact of the recession and recovery on state and local business tax collections. The level of tax collections in FY2010 re F ects both the positive impact of the economic recovery on businesses and the lingering effects of the recent recession on state and local government budgets. Businesses paid $619 billion in state and local taxes in FY2010, a decrease of 0.3% compared to FY2009. The relatively stable level of business tax collections is the result of a number of...
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EY COST 2011 50-state total business tax report - Total...

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