ITEP Testimony on Combined Reporting, Before the Massachusetts General Court Joint Committee on Revenue
reportOver the past few months, a strong consensus appears to have developed here in Massachusetts, a consensus that the Commonwealth should put a stop to tax avoidance by large and profitable businesses and adopt a new approach to its corporate excise tax – a method of taxation commonly referred to as combined reporting. I want to commend the Governor, the Legislative leadership, and the members of this Committee for the contributions that they have made in building that consensus. Combined reporting is easily one of the most important steps the Commonwealth could take to improve the overall fairness of its tax system and to ensure that its tax system produces an adequate stream of revenue over time.