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In 2008 Massachusetts adopted significant reforms of its tax laws to reduce corporate tax avoidance while also reducing the overall corporate tax rate. During the debate on this legislation, a number of proposals were put forth that created new tax breaks or weakened the state's ability to enforce the tax laws effectively. Many of these proposals were ultimately rejected. One proposal that was included in the law related to the interaction of Federal Accounting Standard 109 and the tax reforms being implemented.
October 13, 2009 | PDF | Factsheet