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MassBudget Brief: Legislature Enacts Corporate Tax Reform
Table of Contents
- Overview
Table of Contents
- Overview
On July 1st, 2008 the Massachusetts Legislature enacted corporate tax reform legislation that will significantly reduce opportunities for corporate tax avoidance, improving the fairness and efficiency of the state tax system. The legislation also cuts corporate income tax rates, but by less than the amount saved by reducing tax avoidance.
As a result, the legislation generates revenue that will be available to strengthen the fiscal condition of the Commonwealth and fund investments in public infrastructure, education, and other essential building blocks for a strong state economy.
This Budget Brief describes the legislation, explaining the major provisions and detailing the revenue implications in each of the next several years.
A more complete discussion of the economic policy research on the effects of tax avoidance and public investments is available in a previous MassBudget paper, available at this link: click here
Table of Contents
- Overview
