The excitement of the Oscars may be over for another year, but thanks to Florida lawmakers, the movie biz is lingering on in the limelight today. Rep. Stephen Precourt is in the hurt locker over a bill that offers a $75 million tax incentive package for companies that produce “family-friendly” movies but denies the tax break for movies that portray “nontraditional family values” . . . which could mean films that show families headed by gays, critics point out. more

Corporate tax solutions provider Vertex has been tracking the U.S. average sales tax rate since 1982. Last year, the average hit a new record — 5.468 percent — according to the firm’s latest report, published this week.

Seven states increased their standard rate in 2009 (also a record).

More worrying, perhaps, for the companies that have to collect and remit these funds, is the fact that tax authorities are levying more and more new sales and use taxes, and they’re changing the ones they’ve already established more frequently. more

Would you rat on your company to the IRS for a share of the proceeds?

Many would, apparently. more

A reader of my recent blog about the Obama Administration’s international tax proposals sounded a note of exasperation that’s becoming increasingly familiar when corporate tax pros discuss the issue: “Why NOT bring in money from other countries? What’s wrong with putting a McDonald’s in India? It brings money into the organization as a whole, which means they can pay higher salaries,” argued Ralph Comstock.

Sound points, and Ralph might have added that there’s precious little evidence that the President’s proposals will do what they’re intended to do, i.e., increase employment in the United States by curtailing activity in lower-tax jurisdictions abroad.

The day after my post, the Tax Foundation released a report arguing that the Administration’s program will backfire by undermining the competitiveness of U.S. companies, and that it’s taking the U.S. in exactly the opposite direction of most tax authorities around the world. more

A $15 billion jobs-creation package may be heading to a final vote in the Senate today after gaining a measure of support from some Senate Republicans Monday. The linchpin of the bill is a provision that lifts part of the employers’ payroll tax for companies that hire unemployed workers this year, together with a $1,000 credit for keeping those employees on the books for a year.

Critics of the payroll tax deduction have claimed that it might actually slow job growth if businesses decide to lay off current workers and hire the unemployed (see, for example, this post at futureofcapitalism.com).

The Congressional Budget Office doesn’t agree. more