Massachusetts S1796 amends the state's tax code to close the single sales factor tax loophole.
Massachusetts S1796 amends the state's tax code to close the single sales factor tax loophole by changing how taxable net income is apportioned for corporations with business activity both within and outside the commonwealth. The bill modifies the formula for apportionment, replacing the single sales factor with a combination of property, payroll, and sales factors. This change aims to ensure that corporations are taxed more fairly based on their actual business activities within the state.
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