November 25, 2019

The Oracle: Big Corporate Tax Loopholes Strain Florida Budget

media mention

A 2019 report from the Institute on Taxation and Economic Policy, for instance, examined data from the IRS and Congressional Budget Office, estimating that Florida loses $1.1 billion annually from state corporate tax loopholes.

$1.1 billion might seem small compared to the state’s $90 billion budget, but even small funding changes can have big impacts. The entire Florida university system, for instance, received $5.1 billion from the state in the 2019 fiscal year.

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