local government revenue generation pdf

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Unlocking the full potential of city revenues. Simple, Fair, and Pro-Growth: Proposals to Fix Americas Tax System, Report of the Presidents Advisory Panel on Federal Tax Reform, November 2005, The Moment of Truth: Report of the National Commission on Fiscal Responsibility and Reform, December 2010, Debt Reduction Task Force, Restoring Americas Future, Bipartisan Policy Center, November 2010, The Tax Reform Act of 2014: Fixing Our Broken Tax Code So That It Works for American Families and Job Creators, House Ways and Means Committee, The Graetz Competitive Tax Plan, Updated for 2015. >> What is the schedule for the federal budget process? /Type /Group <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> As a result of these twin trends, a majority of the municipalities around the world are struggling to increase revenues while facing structural budget shortfalls that threaten service delivery and quality. stream Okwori, J., & Sule, A. stream <> How did the TCJA affect tax expenditures? Please try again later. /F1 20 0 R /Meta81 69 0 R 0000002251 00000 n Create new revenue streams. How do taxes affect the economy in the long run? >> 4, Government Finances. Local governments received about 32 percent of their general revenue from state government transfers (including indirect federal funds) and 4 percent directly from the federal government. 7 endobj general sales taxes and gross receipts taxes, Coronavirus Response and Relief Supplemental Appropriations Act, federal funds for local transportation projects, Surveying State Leaders on the State of State Taxes, More Than Fines and Fees: Incorporating Equity into City Revenue Strategies, State and Local Government Revenues and Racial Disparities, Assessing Fiscal Capacities of States: A Representative Revenue SystemRepresentative Expenditure System Approach, Fiscal Year 2012, Governing with Tight Budgets; Long Term Trends in State Finances, Center on Labor, Human Services, and Population, Metropolitan Housing and Communities Policy Center, 8 percent from selective sales taxes on purchases such as, 2 percent from selective sales taxes on purchases such as, 3 percent from other taxes such as a locality'staxes onhotel bookingsandrestaurant meals. How do state and local individual income taxes work? Learning theories: Their influence on teaching methods. /Meta53 50 0 R How does the tax system affect US competitiveness? What is the role of monetary policy in alleviating economic downturns? Prior to the 2011 state income tax increase local governments received a 10.0% share of the income tax revenue. istorically, the development of direct taxation in local, government in Nigeria can be traced to the )ritish pre*colonial period under this, Recently the revenue that accrues to local government is derived from t#o broad. V)gB0iW8#8w8_QQj@&A)/g>'K t;\ $FZUn(4T%)0C&Zi8bxEB;PAom?W= Global Journals Inc. (USA). /Font << Intergovernmental transfers accounted for 36 percent of local general revenue in 2017 (figure 1). What kinds of tax-favored retirement arrangements are there? Why is the VAT administratively superior to a retail sales tax? endobj What are tax expenditures and how are they structured? >> >> /Font << How does the current system of international taxation work? 0000001471 00000 n /Group << (&. Since residents often react negatively to actions that increase the cost of living, efforts to raise revenue through additional fees and taxes can be considered more acceptable when they also have a perceived public benefit. Strategic control and revenue generation: A critical success factor in local government using the balanced scorecard. nQt}MA0alSx k&^>0|>_',G! (*(%8H8c- fd9@6_IjH9(3=DR1%? /Type /Page 12 0 obj endobj What other countries use return-free filing? /ModDate (D:20131230000155+10'00') >> (2016). Areas to be assessed may include the following metrics: Ease of implementation. The State's own budgetary issues have put a major strain on local government budgets across Illinois. Meanwhile, revenue from sales taxes steadily increased from 5 percent to 7 percent between 1977 to 2017 (figure 2). In 2020 and 2021, Congress transferred a large amount of funds to state governments as part of the CARES Act, the Coronavirus Response and Relief Supplemental Appropriations Act (part of the December 2020 omnibus bill), and the American Rescue Plan. With initial adjustments for relevance and size of potential revenue impact, cities can select the most promising streams as revenue generators. And as the new normal begins to take shape, you'll also have to plan for the near- and long . What are tax credits and how do they differ from tax deductions? /StructParents 5 Before the crisis, long-term structural deficits were persistent for both individual governments and the entire sector as spending plans and patterns outpaced governments' revenue-generating capacity. https://doi.org/10.1007/978-3-030-73875-4_17, DOI: https://doi.org/10.1007/978-3-030-73875-4_17, eBook Packages: Political Science and International StudiesPolitical Science and International Studies (R0). Keywords: Local Government, Federalism, Revenue Allocation and Fiscal Federalism 1. How do taxes affect the economy in the short run? /F2 21 0 R /Meta39 39 0 R Predicting Municipal Fiscal Distress: Aspiration or Reality? Cambridge, MA: Lincoln Institute of Land Policy. What did the Presidents Advisory Panel on Federal Tax Reform say about the national retail sales tax? >> This intervention is typically applicable to any paper-based transactions or services, such as business license fees, construction permit fees, or land registration fees. >> Gordon, Tracy. What is the Medicare trust fund, and how is it financed? /GS31 30 0 R /F10 61 0 R Development which is a necessity in every society can be achieved to a great extent with adequate resources. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] The logic is that, in areas where the revenue capacity is high, a relative higher tax . <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 11 0 R 16 0 R 19 0 R 22 0 R 23 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> /Image8 18 0 R >> Revenue from property, sales, and other taxes totaled $707 billion, or 42 percent of general revenue. <>>> /MediaBox [0 0 595.32 842.04] 1 0 obj This exercise involves analyzing the citys revenue baseline to determine current revenue generation across all streams and then comparing revenue streams against benchmarks for peer cities to identify any gaps. Public sector revenue management is as managing government revenue in public sectors. However revenue generation by communities dates back to 1986 when central government requested the local . Some are widely practiced, while others represent emerging and innovative options for city governments to pursue. endobj n3kGz=[==B0FX'+tG,}/Hh8mW2p[AiAN#8$X?AKHI{!7. How do state estate and inheritance taxes work? Catawba Publishing Company. 0000003670 00000 n Next, cities should perform a thorough gap analysis to define the potential revenue impact for any given stream. endobj Some of the commissions include Phillipson Commission of 1946, Hicks-Phillipson Commission of 1950, . A 2016 study conducted by the Australia Institute concluded that the Finnish model would yield a 12 percent increase on average in the value of fines issued by five states in Australia. /Pages 2 0 R <> /Image8 18 0 R Local governments collected $1.7 trillion of general revenue in 2017. /Image91 75 0 R >> City assets and investments. Therefore, the following three areas should be examined: In addition, the city should refer back to the results of the citizen sentiment survey conducted during the preparatory stage to help inform the assessment of social acceptance. /Resources << Local governments collected $509 billion from property taxes in 2017, or 30 percent of local government general revenue. This gave a substantial and unprecedented reform of autonomy to the, devolved on the local government therefore, became a common $no#ledge that, most of the local government are finding it difficult to cope #ith the present level, The principal aims of creating local governments #ere as, /. /Image93 73 0 R Accessed 18 July 2016. /Type /Group /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] xX8oANvfvV{9nv$&HZ /4WU|y Y[|)|EB;$Oy,x>_$x/ /Contents 70 0 R For instance, some cities have implemented a refundable deposit for beverage containers to encourage recycling or sought to enhance public safety by issuing speeding tickets to motorists. Who would qualify for return-free filing? The usual practice in this country (Nigeria) is that political parties and individual candidates often make endobj Edogbanya, A., & Sule, J. G. (2013). What did the American Taxpayer Relief Act of 2012 do? 7, 192209. What are the consequences of the new US international tax system? This unit has several responsibilities. In the last 10 years, Illinois has reduced the portion of income tax returned to cities and towns. /CS /DeviceRGB /S /Transparency Furthermore, technological advancements can aid increased surveillance. How does the availability of tax-favored retirement saving affect national saving? /Parent 2 0 R To increase the flow of revenues from these sources, cities can select from four interventions (Exhibit 3). << Social acceptance. /Group << /Group << /Font << Local Effect: Beginning FY 2024, revenues potentially decrease for local governments that own and operate facilities that use the energy sources removed from the RPS, as discussed below. What tax incentives exist to help families save for education expenses? In Finland, for example, fines for speeding are broadly linked to the income of violators and how far over the speed limit they were traveling when caught. Download chapter PDF Introduction. /Meta62 60 0 R A review of revenue generation in Nigeria local government: A case study of Ekiti State. Eneanya, A. N. (2012). << >> simply because of poor finances arising from ade8uate revenue generation drive. Gross Domestic Product, Third Quarter 2018 (Second Estimate); Corporate Profits, Third Quarter 2018 (Preliminary Estimate).. McKinsey_Website_Accessibility@mckinsey.com. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] /GS7 17 0 R 3. >> Each time, the city brought in $7 million to $9 million in revenue. n effective 'ocal -overnment system rests ma%orly on the availability of human, governments development. Despite the numerous options available to generate more funding for city operations, elected officials must proceed carefully. The data was analyzed using simple percentage and frequency for primary data and content analysis for secondary data. /Meta44 31 0 R /StructParents 9 x]s63|:oNg$8Sw}hKM7?.~Vb@g6v|Y,j]w2_~yv6IDltsLDI%:nCSq251Le,qGO2-y5E 6X6> iq#"K%J3#GfF/_F ?V]pq^Te%&zuD`~>EgFY3c87Hlt9@)Ov?"c" @]TLlJaZg=40P//^E5uTxR4nhs7=pOCezQ&6.6+`,^M:|"T|m|'wo'Sc^e~abN77`& 8E9"m @}_6l?\Lzw]$1%gVv!CBJi`UY! /F1 20 0 R /StructParents 6 0000003592 00000 n How did the Tax Cuts and Jobs Act change business taxes? 5356 0 obj <> endobj /Type /Page Local governments include county governments, municipalities, townships, special districts (such as water and sewage authorities), and school districts. What criticisms are levied against standard distributional analysis? >> or improve local service delivery, though the opposite can also be true. VIP services can also be offered where increased fee levels guarantee higher quality. >> How are different consumption taxes related? <>>> /GS7 17 0 R 1 0 obj The survey research design was adopted for this study, with 414 staff of Ikorodu local government area as the population of the study. What are the drawbacks of return-free filing? 7 At the same time, most states place restrictions on local property taxation, with limits that fall into three main types: rate limits, assessment limits, and levy limits. A citizens guide to the fascinating (though often complex) elements of the US tax system. Taxes, fees, and user charges are considered "own-source" revenue. City of Los Angeles Department of Public Works, Bureau of Engineering standard fee list. Hence the various sources of local government finance have become very crucial in order to foster development at all levels of governance. Beyond central government funding, the primary revenue streams for municipal governments are service fees, fines, taxes, and assets such as buildings and properties. >> >> The revenue systems of these governments eroded while the workloads and scope on the expenditure side of the state and local system budget . 2018. "F$H:R!zFQd?r9\A&GrQhE]a4zBgE#H *B=0HIpp0MxJ$D1D, VKYdE"EI2EBGt4MzNr!YK ?%_&#(0J:EAiQ(()WT6U@P+!~mDe!hh/']B/?a0nhF!X8kc&5S6lIa2cKMA!E#dV(kel }}Cq9 Even though what the local government had generated from internal and external sources have impacted the area to an extent, local government finance system i.e. HyTSwoc [5laQIBHADED2mtFOE.c}088GNg9w '0 Jb The maximum curtailed power was 963 MW, and the total annual curtailed energy generation was 560 million kWh, with a . What is carried interest, and how is it taxed? Majority Revenue generation in Nigeria local governments is principally derived from tax. /Resources << The reforms #hich gave recognition to, the local level #ere ta$en care of. /Parent 2 0 R /S /Transparency Would a national retail sales tax simplify the tax code? The challenge is identifying and prioritizing the opportunities that will have the greatest impact and are relatively feasible. /S /Transparency Taxes provided 42 percent of local general revenues, including: Charges, such as city revenue from sewerage and parking fees, when combined, provided 18 percent of local general revenues in 2019. 12 0 obj Finally, cities could introduce new types of service fees, fines, and chargesand in so doing, create new sources of revenue. /F5 40 0 R University Press. /Font << New York, Scribner Press in Institute of Management and Leadership Professional Nigeria (2012). /Tabs /S /F9 55 0 R Fatile, J., Majekodunmi, A., Oni, A., & Adejuwon, D. (2013). /Meta65 57 0 R The rapid urbanization of the worlds population is well under way. /F7 42 0 R /Tabs /S What are itemized deductions and who claims them? /Image8 18 0 R Local governments collected $1.7 trillion of general revenue in 2017. /StructParents 0 How does the tax system subsidize child care expenses? >> /Meta56 45 0 R /GS7 17 0 R \\jG*"ktVJE 1 0 obj 7 0 obj Local government administration in Nigeria: A comparative perspective. xZs8hI6mzumvwn:ul7 z?0{v8,Vjq.W?_/NOfSXbyqhu0r}z2/6r>YmM%`@NUOv- What is return-free filing and how would it work? endobj 11 0 obj What characteristics make fiscal stimulus most effective? Census of Governments, vol. What are defined contribution retirement plans? As a local government leader, you're pressed to keep up with the immediate needs of your community during the COVID-19 crisis. 4. Developing countries revenue growth is hampered by a . Tracy Gordon, Richard C. Auxier, and John Iselin (2016), Governing with Tight Budgets; Long Term Trends in State Finances >> endobj What are the benefits of return-free filing? This effect is the strongest in mostly rural and sparsely populated areas where lignite is mined and used for power generation. >> /Resources << >> The final 34 percent of local government general revenue came from intergovernmental transfers. What policy reforms could simplify the tax code? /Image8 18 0 R 0000000016 00000 n Revenue generation is the main source of income to the Federal, State and local Governments. (All sources of local government general revenue do not sum to 100 percent because of rounding.). azA/u|,j[^#R"US&HwksN$} YVbh The share from intergovernmental transfers also fluctuated somewhat over time, falling from 43 percent of general revenue in 1977 to 36 percent in 2017. /Tabs /S Urban Institute, Brookings Institution, and individual authors, 2022. /CS /DeviceRGB /Meta78 65 0 R 3. Norton Francis and Frank Sammartino (2015). Keywords : development, projects, revenue, generation, government. /F4 85 0 R It is as easy to achieve fiscal decentralization under a unitary system of government as under a federal system. stream Professional Import Duties Administrators /ExtGState << A third lever is optimizing collection and audit processes to increase collection rates and minimize leakage. Municipalities often levy charges and taxes on property owners as well as on income, sales, and other transactions. Governments, with input from citizens, must decide how to manage risks >> Who bears the burden of a national retail sales tax? What transition rules would be needed for a national retail sales tax? How do IRS audits affect low-income families? How did the TCJA change taxes of families with children? Cities that successfully cultivate a mixture of actions can dramatically improve their fiscal health and improve services for their residents. /Font << >> To address this problem, requires proper implementation of plans directed at enhancing adequate revenue generation. /F3 22 0 R The need for state and local governments to generate adequate revenue from internal sources has therefore become a matter of extreme urgency and importance. 9. /MediaBox [0 0 595.32 842.04] (*(%8H8c- fd9@6_IjH9(3=DR1%? /ExtGState << endobj How receptive citizens and businesses are to a given intervention in a revenue stream can have significant impact on the interventions long-term viability. <> In contrast, revenues from charges steadily increased from 11 percent of general revenuein 1977 to 17 percent in 2019. Concept Publications. It also excludes revenues from government's "business-like" activities such as water, gas, electricity, and transit utilities; government-run liquor stores; and government-administered insurance trusts such as employee retirement, unemployment compensation, and workers compensation systems. /Group << The finding revealed that there is an average relationship between local government finance and development as other factors like proper utilization and administrative competence are necessary in development. /Meta59 53 0 R A simulation of 8,760 h year-round was performed for the provincial market containing the integrated generation plant without energy storage. /Meta42 32 0 R How do state and local severance taxes work? /Resources << These cameras are controversial, and enhanced efficiency is one reason why many municipalities haven't taken this approach. This applies to administrative services as well as other city services such as utility provision. stream CrossRef What are the major federal payroll taxes, and how much money do they raise? /CS /DeviceRGB Charges and taxes. /S /Transparency 0000000532 00000 n Keywords: Local Government, Administration, Finance, Decentralization, Nigeria, Iwo Introduction One area which has remained neglected over time by the local governments in Nigeria is revenue generation. >> /Contents [14 0 R 15 0 R 16 0 R] wG xR^[ochg`>b$*~ :Eb~,m,-,Y*6X[F=3Y~d tizf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:O:8uJqnv=MmR 4 13 0 obj Local government and finance in Nigeria in state and local government in Nigeria: The changing scene. This intervention is typically most applicable to service feesspecifically, utility services such as water, sewage, or electricity. Financial management in Nigerian local government. Cities could also revise their pricing models by using differentiating factors specific to each revenue lever. What is the difference between carryover basis and a step-up in basis? %%EOF /Group << For example, the federal government sends K-12 education funds to state governments that then distribute the money to local governments. 8 0 obj Babcock University Press. INTRODUCTION Nigeria is a sovereign nation. >> /Group << /F5 40 0 R The capacity of local government to generate revenue internally is one very crucial consideration for the creation of a local council. /Meta64 58 0 R /MediaBox [0 0 595.32 842.04] /F2 21 0 R For example, cities could institute new charges for the disposal of food waste. Never miss an insight. Governments should ensure that fee levels cover the costs of services being provided in the majority of cases. It is very important especially for developing countries because in developing . share. What are the major options for comprehensive tax reform? How does the federal government spend its money? How do financing methods affect the distributional analyses of tax cuts? /F1 82 0 R %PDF-1.5 /S /Transparency /Contents 29 0 R 1 OECD fiscal decentralization database (object name Table 12: 1970 2016), OECD, accessed April 15, 2019, oecd.org. /Meta38 38 0 R /F1 20 0 R What are municipal bonds and how are they used? Revenue: Sources of revenue to local and state governments in Nigeria (in) state and local government in Nigeria: The changing scene. Indeed, each citys situation is inherently different and will require a unique combination of interventions and careful consideration to ensure the program is both economically and politically feasible. How did the Tax Cuts and Jobs Act change personal taxes? hv-oRv9[Plq ?#o-.mOqi@}Fdl(d]i&y-tIT>=#'K/+EmKO+pe>"J*#9(tG_0Yb,UfR`En`o7So^ Cover cost to serve where possible. 13 0 obj /Meta51 48 0 R 203 copies of the questionnaire were administered to staff of Ikorodu local government who were simple randomly selected of which 188 (92.6%) were retrieved while 15 (7.4%) copies were not retrieved. Its time to change it,, Author Talks: The worlds longest study of adult development finds the key to happy living, The executives guide to new-business building, Generative AI is here: How tools like ChatGPT could change your business, Smart cities: Digital solutions for a more livable future, Dubai introduces innovation fees for government transactions,. /Font << >> What is the difference between zero rating and exempting a good in the VAT? What are the major federal excise taxes, and how much money do they raise? %PDF-1.4 7 Other strategies, such as payment plans, can also reduce leakage and increase collections. /Count 10 % 3.5 Local government revenue sources by jurisdiction 7 3.6 Local government expenses by purpose 8 3.7 Taxation revenue share by sphere of government and source of revenue 8 3.8 Share of total taxation revenue by sphere of government over time 9 3.9 Vertical fiscal imbalance in Australia 10 4. What are the sources of revenue for local governments? /Meta58 47 0 R 2023 Springer Nature Switzerland AG. /Parent 2 0 R I. I. ntroduction 2.1.2 Section 81 of the Local Government Act, 1997 (amended) allows Local Government to mobilise revenue in form thof fees and taxes as specified in the 5 schedule. 10 0 obj state and local government with a recommendation that conscious effort be made to allocate more revenues to states and local governments. ;nUG]~[ sp!@Q06"NY;k g],g>$6%E#w .CB}6{yghj9Kv:Q9w l+/;2w 2018. However, the state government transfer total includes indirect federal funds that are initially allocated to states. Introduce innovative fees and charges. Cresthill Publishers Limited. Municipalities raise revenues by charging for services such as public parking, toll roads, waste management, and building permits, among others. 2 0 obj the federal and state governments in Nigeria to boost revenue generation under a programme known as the Accelerated Revenue Generation (ARG) Programme. In Los Angeles, for instance, developers can obtain an expedited engineering permit for a surcharge of 40 percent of the permits cost. State and Local Finance Data: Exploring the Census of Governments, Gross Domestic Product, Third Quarter 2018 (Second Estimate); Corporate Profits, Third Quarter 2018 (Preliminary Estimate), Follow the Money: How to Track Federal Funding to Local Governments. =s`Eu00Fu@dH*e&PtD\ \ v B#L2]\m /Group << Government and to the State Governments. /XObject << State and local governments collected a combined $3.5 trillion of general revenues in fiscal year 2019. / As such, federal transfers as a share of local general revenue will likely look different for these yearsbut Census has not yet published that data. How did the TCJA affect the federal budget outlook? What would and would not be taxed under a VAT? US Census Bureau. % What are error rates for refundable credits and what causes them? /Resources << What have budget trends been over the short and long term? How do US corporate income tax rates and revenues compare with other countries? >> revenue allocation among federal, state and local governments in the country. >> All revenue data are from the US Census Bureaus Annual Survey of State Government Tax Collections. To serve as the third tier of government through which appropriate services and development are made in response to the wishes of local community through their representatives. x\KF+BGPpF^H bCfz(a11mGVV_faw1^o|mew5t'7=^$MDDRYTR7*::'W{o7/jBl\~?vM/ revenue generation and the development of the rural areas using Ikorodu local government in Lagos Nigeria. Miscellaneous sources, such as special assessments, provided 7 percent of state general revenue. How accurate are long-run budget projections? In so doing, they impose some taxes and rates on these economic activities as a way of generating funds for their What is the breakdown of revenues among federal, state, and local governments? A new tax on plastic would raise revenues and also benefit the environment. Revenue generation as a major source of income for the state government: An empirical analysis of two parastatals. Tax is however, a compulsory levy imposed by government on individuals and companies for various legitimate functions of the state (Olaoye, 2008). %(zC]N"t~'ewd+*a[`.dP(wz)Vio+qjXvVmWHS%n}"GC3m*.#w+.T#p1f^HgC`|Mzcs,JX8/v>na,4t^}$$\X S:ds0{ws:yGu.%;x/\)F@!>od1v((EF|' Sales taxes (general and selective) provided local governments $124 billion (7 percent of general revenue) and individual income taxes accounted for $33 billion (2 percent). <>stream << In Saudi Arabia, the Ministry of Municipal and Rural Affairs has a control unit that monitors the performance of regions and the regional government authorities that oversee municipalities. /Meta25 33 0 R /StructParents 0 www.iiste.org. /Resources << 2.1.3 Sections 31 and 32 of the Local Government Financial and Accounting Regulations 2007 /Contents 62 0 R /XObject << Sarah Jindra, Chicagos ticket amnesty program begins today, WGN9, November 10, 2015, wgntv.com. 1 0 obj Perhaps the simplest and most straightforward approach across each of the four revenue streams would be to charge more. Gordon, Tracy, Richard Auxier, and John Iselin. 0 /F3 22 0 R Thus, the 'ocal government cannot embar$, execute, and possibly carryout the maintenance of these pro%ects and other responsibilities, This is the basic reason #hy development is s$eletal at some 'ocal -overnment, councils in Nigeria. >> Assets can include land monetization (such as land used by telcos for cell towers), appreciating land values, and commercial advertisements in public spaces, public markets, and shopping centers. endobj This source of revenue is mostly cyclical; it grew sharply during the 2001 and the 200709 recessions, receding in both cases as the economy recovered (figure 4). Tax as a financial charge, is the main source of revenue generation for any government. /CS /DeviceRGB 0000003920 00000 n /XObject << And these sources tend to be far from optimized: local governments are often unaware of how to get more from existing sources and lack the resources to mount such efforts. >> /XObject << (2022). 2016. /Contents 67 0 R What are the sources of revenue for the federal government? >> What options would increase federal revenues? /F1 20 0 R /F1 20 0 R /Type /Page 1. endobj OECD fiscal decentralization database (object name Table 12: 1970 2016), OECD, accessed April 15, 2019, oecd.org. What is the TCJA base erosion and anti-abuse tax and how does it work? On what do economists agree and disagree about the effects of taxes on economic growth? What are dynamic scoring and dynamic analysis? /ExtGState << What is the difference between marginal and average tax rates? This is a preview of subscription content, access via your institution. incentive from a state or local government and are encouraged to claim the Advanced Manufacturing Investment Credit, a separate incentive administered by the U.S. Department of the Treasury and the Internal Revenue Service that provides a federal income tax credit for qualifying ca pital investments in a facility for which Three local government officials were also interviewed. How did the TCJA change the standard deduction and itemized deductions? [/ICCBased 11 0 R] <> How would the tax system need to change with return-free filing? 3. Anyone you share the following link with will be able to read this content: Sorry, a shareable link is not currently available for this article. /StructParents 8 What are the sources of revenue for state governments? /Kids [4 0 R 5 0 R 6 0 R 7 0 R 8 0 R 9 0 R 10 0 R 11 0 R 12 0 R 13 0 R] 4 0 obj We show that increased revenues from shale gas and oil during this period are strongly associated with decreased local government relianceonnesandfeesasrevenuesources. >> 68% of the world population projected to live in urban areas by 2050, says UN, United Nations Department of Economic and Social Affairs, May 16, 2018, un.org. As an alternative to benchmarking, cities could also determine the cost of services and then establish a cost-plus pricing model to generate additional revenues. )U!$5X3/9 ($5j%V*'&*r" (,!!0b;C2( I8/ These cities typically adopt one of two archetypes: an independent revenue monetization department that focuses on commercial aspects and acts as a strategic unit for generating revenues, or a commercial unit integrated into the finance department that is responsible for tracking progress of revenue targets. Would and would not be taxed under a federal system the American Taxpayer Relief Act of 2012 do affect! R /f1 20 0 R to increase collection rates and minimize leakage are relatively feasible relevance and size of revenue... Obj endobj what are the consequences of the permits cost fiscal Distress: Aspiration Reality... Though the opposite can also be true economy in the long run are they structured n effective -overnment. 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