The amount of state and local taxes paid in Massachusetts as a share of state personal income remained well below the U.S. average in Fiscal Year 2008, according to the U.S. Census Bureau’s newly updated survey of State and Local Government Finances.
In economic development legislation under consideration in the House, there are proposals for new corporate tax breaks. This Facts At a Glance provides information about the provisions. (Updated July 13, 2010)
National studies have consistently found that the overall level of business taxation is significantly lower in Massachusetts than in most states. One prominent study ranks Massachusetts 43rd for its overall business tax climate in Fiscal Year 2009.