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Table of Contents
- Introduction
Table of Contents
- Introduction
On April 10th the Massachusetts House of Representatives approved legislation that includes both reforms that are likely to reduce corporate tax avoidance and tax rate cuts for corporations and financial institutions. This MassBudget Brief explains the legislation approved by the House, with special attention to amendments adopted during the budget debate. A previous MassBudget Brief describes a version of this legislation proposed by the Governor in January and compares it with what was known at the time about the version of the legislation proposed by the Speaker.
During debate, the House adopted a number of amendments: the rate cut for corporations was reduced; a new rate cut for financial institutions was added; money from the tobacco tax was earmarked for Health Reform; and an amendment was adopted re-writing the section on Combined Reporting in a way that creates a series of new, and expensive, loopholes and other tax avoidance opportunities. Each of these amendments is explained below, after a brief description of the major provisions of the bill.
Table of Contents
- Introduction
