Economics and Finance

The Supreme Court has agreed to decide whether states may require out-of-state retailers to collect sales tax.

In Quill Corp. v. North Dakota (1992), the Supreme Court held that states cannot require retailers with no in-state physical presence to collect sales tax. South Dakota asks the Supreme Court to overturn Quill in South Dakota v. Wayfair

Imagine this scenario:  husband buys life insurance and designates his wife as the beneficiary. A few years later the state adopts a revocation-upon-divorce statute applicable to life insurance beneficiaries which states that upon divorce the designation of a spouse as a life insurance beneficiary is revoked. A few years after that the couple divorces but the husband never changes his life insurance beneficiary. A few years after that the husband dies.

Is the ex-wife still the beneficiary?

In ...

WHEREAS, over the last 60 years, the number of jobs requiring an occupational license has grown from about one in 20 to nearly one in four; and

WHEREAS, when implemented properly, occupational licensing can help protect the health and safety of consumers by requiring practitioners to undergo a designated amount of training and education in their field; and

WHEREAS, international trade and foreign investment are major contributors to the United States economy and help support millions of good-paying jobs throughout state and local communities; and

WHEREAS, U.S. exports account for nearly 13 percent of the U.S. gross domestic product and support an estimated 11.5 million jobs; and

WHEREAS, the United States and Canada have one of the largest trading relationships in the world, and Canada is the United States’ largest export market, valued at $322 billion in goods and services; and

WHEREAS, in 2016, trade between the United States and Canada totaled over $1.7 billion in goods and services every day, supporting 9 million jobs in the U.S., and Canada is the leading export destination for 32 U.S. states; and

WHEREAS, the state and local tax deduction has been a feature of the federal tax code for over 100 years, dating back to 1913; and

WHEREAS, eliminating the state and local tax deduction would increase taxes for approximately 24 percent of taxpayers nationwide; and

CSG Midwest
In September, Amazon announced its search for a second North American corporate headquarters, known as HQ2. The scale and scope of the project — the e-commerce giant is expected to invest more than $5 billion in the facility and employ up to 50,000 high-paid workers — captured not only headlines, but the attention of state and local officials.
A very public competition has ensued, and at least one Midwestern state, Illinois, is right in the middle of it.
“I’m excited about our chances for [landing] HQ2,” Illinois Rep. Mike Zalewski says. Earlier this year, he was part of an effort to reform and reinstate a long-standing Illinois incentives program known as EDGE, which is among the programs that the state could use in its pursuit.
“For every Amazon, there’s a lot more 40- or 50-person manufacturers looking to move to Illinois or to grow their business [here], and we want them to succeed,” Zalewski says. “EDGE is designed ... to help both the big fries and the small fries.”
The role of state incentives (tax credits, tax exemptions, grants, low-interest loans, etc.) has gotten increased attention in the Midwest during the latter part of 2017. In September, around the same time Illinois began making its Amazon pitch, Wisconsin was closing the deal on what lawmakers say is the biggest economic development project in that state’s history.

CSG Midwest
What’s at stake for the Midwest’s food and agriculture sectors when it comes to the future of the North American Free Trade Agreement? A whole lot of jobs and economic activity, according to a letter signed in November by nearly 170 agriculture organizations and companies and sent to all 50 U.S. governors.
“Withdrawal from the accord would have adverse impacts,” the letter states before detailing why, as well as the economic consequences in various sectors.
For instance, Canada and Mexico account for 40 percent of the volume of U.S. pork exports (seven of the 10 leading states for pork production are in the Midwest) and 27 percent of U.S. beef exports (five of the 10 states with the most cattle are in the Midwest).

States spend billions each year on tax and financial incentives and in some states, tax expenditures can exceed revenues. The costs can also be unpredictable. The costs of some state tax incentive programs have increased quickly and unexpectedly by tens or hundreds of millions of dollars. With every public dollar being scrutinized, it is important to ask—are these incentives getting the scrutiny they deserve?

More than half of states have now legalized marijuana use—recreational or medicinal. That’s a massive shift in policy from just a decade ago. With this shift comes a slew of legislative, regulatory and fiscal questions for state policymakers to tackle. This day-long policy forum will provide an overview of the current legal landscape and best practices for taxation, regulation and licensing. The forum will discuss emerging trends and provide attendees direct exposure to Nevada’s marijuana legalization experience.

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