Policy Documents

Overview of State and Local Taxation

Ethan D. Millar –
October 1, 2009

This article provides an overview of basic state and local tax rules that apply to general business operations as well as to common business transactions such as mergers and acquisitions. The article focuses on income and sales/use taxes, but also briefly discusses real property transfer taxes, property taxes, net worth taxes (often called capital stock or franchise taxes), gross receipts taxes, unemployment taxes, wage withholding taxes and unclaimed property laws.