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Affiliated Scholar
Reuven S. Avi-Yonah
Reuven S. Avi-Yonah is the Irwin I. Cohn Professor of Law and director of the International Tax LLM Program at the University of Michigan. He...
Research Intern – Economic Studies, Urban-Brookings Tax Policy Center
Tayae Rogers
Jeffrey Hoopes
Research Intern – Economic Studies, Urban-Brookings Tax Policy Center
Julie Gnany
Individual Taxes
How does the tax system subsidize child care expenses?
The Child and Dependent Care Tax Credit The child and dependent care tax credit (CDCTC) provides a credit worth between 20 and 35 percent of...
Susan Nembhard
Sarah Morriss
State and Local Issues
How do state individual income taxes conform with federal income taxes?
States have conformed with the federal individual income tax code in various ways since the tax was introduced over a century ago. In fact, some...
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State and Local Issues
How do state and local cannabis (marijuana) taxes work?
Although prohibited under federal law, 21 states allow and levy some type of excise tax on recreational cannabis purchases. But different states use different taxes—percentage-of-price...
Federal Budget and Economy
Major Enacted Tax Legislation, 1960-1969
Tax Reform Act of 1969
Personal Exemption. Phased-in increase in personal exemption amount from $600 to $750.
Investment Tax Credit. Repealed investment tax credit.
Minimum Standard Deduction. Increased minimum standard deduction from $300 plus $100 per capita (total maximum $1,000) to $1,000
Federal Budget and Economy
Major Enacted Tax Legislation, 1950-1959
Internal Revenue Code of 1954
Corporate Tax Rates. Temporarily extended 5 percentage point increase in corporate tax rates through 3/31/55.
Depreciation Deductions. Increased depreciation deductions by providing additional depreciation schedules.
Dividend Tax Credit. Created 4% dividend tax credit for
Federal Budget and Economy
Major Enacted Tax Legislation, 1940-1949
Revenue Act of 1948
Individual Income Tax Rates. Reduced individual income tax rates 5-13%.
Personal Exemption. Increased personal exemption amount from $500 to $600.
Joint Filers. Permitted married couples to split their incomes for tax purposes.
Additional Exemption. Provided
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