Day: November 14, 2018

Traffic congestion is likely to get worse in the next few years for six main reasons, according to a report by the National Parking Association and PwC:

1. Macroeconomic conditions. Vehicle miles traveled, which are directly correlated to economic growth, are forecast to grow by 14 percent from 2017 to 2030 as commercial activity expands.
2. Urbanization. The U.S. population is growing and shifting from rural to urban areas. The portion of people living in urban areas will grow from 81 percent in 2010 to 85 percent in 2030.
3. Transportation network company (TNC) growth. Ride-hailing is boosting demand for transportation while shifting travel from public transit. The shift puts more cars on the street and contributes to congestion at the curb.
4. E-commerce growth. Deliveries are increasing, and they’re not reducing private-vehicle use for trips to shopping malls and brick-and-mortar stores as much as was once expected. E-commerce increased from 0.3 percent of retail spending in 1998 to 8.7 percent in 2014.
5. Infrastructure underinvestment. U.S. public infrastructure was awarded a grade of D+ by the American Society of Civil Engineers and needs more investment to keep pace with that of other developed nations. The federal gasoline tax, which funds much of transportation infrastructure expenditure, hasn’t been raised since 1993.
6. Policy and program development. Current policies and programs have had mixed success in reducing congestion, with many leading to unintended consequences that make congestion.

The state and local taxes paid by businesses rose 2 percent to $738.4 billion in 2017 from the prior year, according to a study by Ernst & Young LLP, the Council on State Taxation and the State Tax Research Institute.

State business taxes increased by 0.4 percent and local business tax grew by 3.7 percent. Business tax revenue accounted for approximately 44% of all state and local tax revenue in 2017.

Property taxes had the biggest share of total state and local business tax revenue at 38.9 percent, or $287.4 billion, in 2017. Business property tax revenue rose 3.9 percent in 2017, the fifth time since 2009 that the growth rate was greater than 1 percent.

State and local corporate income and business gross receipts tax revenue fell 0.7 percent to $62.7 billion in 2017. Federal tax reform, under the Tax Cuts and Jobs Act (TCJA), was signed into law in December of 2017, reducing federal corporate income taxes while expanding state income tax bases.

General sales and use tax revenue derived from businesses on purchases of inputs, including capital equipment, rose 2.7 percent to $157.4 billion in 2017 from the prior year, making up 21.3 percent of all state and local business taxes. Sales taxes on business inputs are the largest state tax paid by businesses, representing 32.4 percent of all state taxes paid by businesses.

Fifty percent of respondents who had transacted on the Drizly platform said that they had purchased from an order-fulfilling retailer for the first time. Moreover, 64 percent of those first-time customers said that they had subsequently shopped, or would strongly consider shopping, at the retailer’s physical location after their initial purchase through Drizly, whose network encompasses nearly 1,000 retail locations in the United States and Canada, according to a statement.

Key findings from the survey of about 4,000 Drizly users in October:

• 50%: consumers reported shopping at a retailer for the first time through the Drizly platform
• 64%: first-time shoppers of a retailer through Drizly said they would consider shopping at the same retailer’s physical location
• 98%: shoppers who said they would purchase again on Drizly from a retailer that they had already shopped on the platform
• 75%: shoppers that have repeat-purchased through Drizly have done so from the same retailer

Advertising revenue for U.S. podcasting market surged 86% to $314 million in 2017 from a year earlier, according to the IAB/PwC Podcast Advertising Revenue Study. The report forecasts the podcast ad market will more than double to $659 million by 2020.