Publications: Taxes

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  • October 31 2019
    Given the recent attention to the issue of whether Massachusetts should decouple from Internal Revenue Code Section 163(j), the Massachusetts Taxpayers Foundation (MTF) has assembled a brief primer on the issue explaining what the provision does, why it is necessary, likely impacts, and cost implications.
  • September 11 2019
    I am writing today in support of House Bill 2446: An Act Relative to the Massachusetts Estate Tax Code. While the Foundation believes that the Massachusetts estate tax should mirror the federal estate tax, this bill would more closely align the Massachusetts estate tax with federal law, and is a reasonable initial step to ensure that the Commonwealth is not an outlier among its peer states.
  • July 26 2019
    I write to offer comments on the rule proposal entitled “Fiduciary Conduct Standard for Broker-Dealers, Agents, Investment Advisers and Investment Adviser Representatives”
  • June 21 2019
    As you know, tax revenue collections through May 2019 exceeded expectations by $952 million. If this strength continues through June, budgeted tax revenue will grow nearly seven percent over the strong fiscal 2018 collections.
  • May 1 2019

    Last summer, MGM Springfield opened its doors to the public and in doing so, opened the door to a new era of casino gaming in the Commonwealth of Massachusetts. The next milestone of this era is on track to come in June 2019 when Encore Boston Harbor opens for business. These new resort-style casinos come just three years after the opening of the only slots parlor in the state, Plainridge Park Casino in Plainville, in June 2015.

  • June 19 2018

    “Today is a great day for all Massachusetts taxpayers because the court has upheld the time-honored constitutional principle that limits the initiative process. By rejecting the notion that a small special interest group can usurp legislative power by including unrelated tax and spending provisions in the same ballot initiative, the court has preserved the state’s ability to make deliberative and fiscally sound choices.“

  • June 18 2018
    We conclude that the initiative petition should not have been certified by the Attorney General as "in proper form for submission to the people," because, contrary to the certification, the petition does not contain only subjects "which are related or which are mutually dependent," pursuant to art.
  • February 12 2018

    If the surtax passes, Massachusetts would have one of the highest tax rates in the nation on income over $1 million. And that may understate the upcoming shockwave to high-earners. Since SALT deductions are now capped at $10,000, the effective state income tax rate for individuals making more than $1 million would soar to 9 percent from 3 percent – a remarkable 300 percent escalation. Given the state’s persistent out-migration issues absent a massive tax hike, the state is rapidly entering uncharted territory with no ability to mitigate the damage for years.

  • December 10 2017
    Plaintiffs bring this lawsuit to exclude from the 2018 ballot an initiative petition that threatens to undermine our representative system of government and our separation of powers, and the long-standing consensus that the Legislature must maintain ultimate control over public finances. Petition No. 15-17 (the “Challenged Initiative”) would amend the Constitution to mandate a 4% surtax on all incomes above a specified level, with the revenue collected earmarked “only” for education and transportation spending. The Initiative is truly radical: Our Constitution never has mandated that a specific tax be imposed – let alone that a specific tax rate be collected – and, in the century since Article 48 introduced the initiative petition process, the Court repeatedly has affirmed that initiative petitions cannot be used to embed spending earmarks in the Constitution.
  • October 12 2017
    I am writing today in support of House Bill 1510: An Act Relative to the Massachusetts Estate Tax Code. While the Foundation believes that the Massachusetts estate tax should mirror the federal estate tax, this bill would more closely align the Massachusetts estate tax with federal law, a great initial step to ensuring that the Commonwealth is not an outlier among its peer states.