The Institute on Taxation and Economic Policy
What's New
Palantir Pays Zero Federal Income Tax Despite Explosive Growth, Largely Due to Trump Tax Law
February 17, 2026 • By Matthew Gardner
Palantir reported $1.5 billion of U.S. income but paid exactly zero federal income tax in 2025. Despite explosive growth, tax breaks from the Trump tax law helped Palantir avoid paying even a dime of federal income tax on its earnings.
Michigan Ballot Proposal Would Boost Public Education While Creating a Fairer Tax System
February 17, 2026 • By Miles Trinidad
A new proposal in Michigan would create a 5-percentage point surcharge on top earners with taxable incomes over $1 million for joint filers and $500,000 for single filers. This would raise about $1.7 billion a year, which would be used for public education priorities.
NCTI is an Important Part of the Federal Corporate Tax. States Should Adopt It Too.
February 12, 2026 • By Carl Davis
Including NCTI in state corporate tax law is an effective way to neutralize much of the tax avoidance that occurs when multinational companies artificially shift their profits into overseas tax havens.
State Rundown 2/11: This Valentine’s Day, Conscious Decoupling Is Our Love Language
February 11, 2026 • By ITEP Staff
While some may be excited for a romantic Valentine’s Day this weekend, many state lawmakers are breaking up and decoupling from recent federal tax changes that are poised to leave states with revenue shortfalls – much like a bad date who forgets their wallet and asks you to pick up…
Trump Undermined the Constitution to Give Corporations a $10 Billion Tax Cut
February 10, 2026 • By Matthew Gardner
This unilateral corporate tax cut from the Trump administration will cost $10 billion over a decade unless it is reversed.
ITEP in the News
New York Times: States Say No Thanks to Trump Tax Cuts, Drawing Republican Fire
Yahoo Finance: Amazon, Meta, and Alphabet Report Plunging Tax Bills Thanks to AI Investment and New Rules in Washington
KOTA Territory News: Assessing SD Gubernatorial Candidates’ Property Tax Proposals
WFMJ: DeWine: No Property Taxes Could Mean 20% Sales Tax
Newsweek: Florida Property Tax Update as Ron DeSantis’s Threat Looms Over Lawmakers
ITEP Work in Action
Economic Policy Institute: Everything You Need To Know About “No Tax on Tips”
Center for American Progress: Overturning D.C.’s Tax Law Would Infringe on Common State Tax Practices and Threaten the District’s Budget and Fiscal Autonomy
Policy Matters Ohio: Ohio Should Not Conform to Federal Tax Policies That Reduce State Revenue
Reason Foundation: A Cigarette Tax Increase Would Undermine Nebraska's Fiscal Stability and Harm Consumers
FACT Coalition: New Transparency Requirements Reveal Low U.S. Taxes, Continued Use of Tax Havens by Major American Corporations
Across the States
Tax Watch
State Tax Watch 2026
ITEP tracks tax discussions in legislatures across the country and uses our unique data capacity to analyze the revenue, distributional, and racial and ethnic impacts of many of these proposals. State Tax Watch offers the latest news and movement from each state.
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Learn more about state taxes across the country, read Who Pays?
State Rundown & On the Map
On the Map
State Rundown 2/11: This Valentine's Day, Conscious Decoupling Is Our Love Language
While some may be excited for a romantic Valentine’s Day this weekend, many state lawmakers are breaking up and decoupling from recent federal tax changes…
Taxes on Adult-Use Cannabis in Each State
Twenty-three states have legalized the sale of cannabis for general adult use. Every state allowing legal sales applies an excise tax to cannabis based on…
State & Local Tax Policy
Michigan Ballot Proposal Would Boost Public Education While Creating a Fairer Tax System
February 17, 2026 • By Miles Trinidad
NCTI is an Important Part of the Federal Corporate Tax. States Should Adopt It Too.
February 12, 2026 • By Carl Davis
What Did 2025 State Tax Changes Mean for Racial and Economic Equity?
February 9, 2026 • By Brakeyshia Samms
D.C.'s Fiscal Autonomy is at Stake, District's Conformity Decisions Should Stand
February 6, 2026 • By Kamolika Das
