LATEST BLOGS

Which states don’t have a capital gains income tax?
By JASON MERCIER  | 
Dec 14, 2018

Prepare to be amazed. The states that don’t have a capital gains income tax are those states without a personal income tax. This is due to the fact that a capital gains tax is an income tax as explained by the IRS: “You ask whether tax on capital gains is considered an excise tax or an income tax? It is an income tax. More specifically, capital gains are treated as income under the tax code and taxed as such." Here is what the states without a capital gains income tax told me . . .

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What We Can Learn from Oregon's Low-Carbon Fuel Law
By TODD MYERS  | 
Dec 13, 2018

As part of his proposals to reduce Washington CO2 emissions, the Governor included a low-carbon fuel standard (LCFS), designed to reduce transportation emissions. Oregon enacted a similar policy recently and it has been cited as evidence that the new restrictions won’t cost much at the pump.

When assessing the policy, we need not only look at what it is likely to cost, but how effective it is at achieving the goal. It might, indeed, be very low cost, but if it provides very little benefit, the ratio of cost to benefit is still poor.

Using data provided by the state of Oregon, a low-carbon fuel standard is relatively expensive, having a high cost for small amounts of CO2 reduction. It costs about ten times as much to reduce CO2 using an LCFS as is currently being paid in the cap-and-trade system in the Northeast U.S.

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Governor proposes 9% capital gains income tax
By JASON MERCIER  | 
Dec 13, 2018

Despite substantial state revenue growth, Governor Inslee today is proposing a 9% capital gains income tax. This is just one of several tax increases the Governor is proposing. The state Department of Commerce has repeatedly said the lack of an income tax is a "competitive advantage" and "is great marketing" for Washington. There is no debate on this point – a capital gains tax is an income tax. This according to the IRS, every state revenue department in the country, and just plain common sense.

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