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Fundamentally Flawed: 62F Formula Overstates “Excess” by $1.4 Billion
The $2.9 billion estimate of 62F "excess tax collections" recently certified by the State Auditor overstates these net Fiscal Year (FY) 2022 collections by $1.4
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Best Research Underscores Value of Fair Share Amendment for Massachusetts Residents
An extensive body of research shows that Fair Share would improve tax fairness, support economic and racial justice, and strengthen our state economy. The research
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Fair Share Tax on Incomes Over $1 Million Would Generate at Least $2 Billion a Year
MassBudget estimates that the Fair Share tax on incomes over $1 million is likely to generate at least $2 billion a year in new revenue
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Average Income in Massachusetts for Every Occupation Is Below $1 Million
According to the most current federal Bureau of Labor Statistics (BLS) data for Massachusetts (2021), average income for every occupation listed falls far below the
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FAS 109, Single Sales Factor Apportionment, and Deferred Corporate Tax Deductions
As the Legislature considers elements of a possible tax package, it is worth focusing on a number of interrelated corporate tax issues that are now
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When A Surplus Is Not Extra
Sometimes a “surplus” is not really a surplus at all, and the term “tax surplus” can be particularly misleading. A tax surplus occurs when tax
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Options to Adjust the Estate Tax While Retaining Revenue and Progressivity
The Massachusetts Budget and Policy Center was asked to outline options for changes to the estate tax that would preserve revenue, maintain progressivity, and also
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“Millionaire Tax” Would Make Massachusetts Tax System Fairer
Currently, the Massachusetts tax system is upside down: the highest income households pay a significantly smaller share of their income toward state and local taxes
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A “Millionaire Tax” Would Advance Racial Justice in Massachusetts
Together, the people of Massachusetts can build a better Commonwealth, one that advances both economic and racial justice. We can transform our communities by addressing
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With “Millionaire Tax,” Massachusetts’ Top Tax Rate Would Compare Well to Top Rates in Other States
Why do we need new tax revenue in Massachusetts? In order to build an economically and racially just Commonwealth, it is necessary for our state
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