In The News: Taxes

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State officials: Too early to worry about capital gains

Aug 26 2015

By Andy Metzger, State House News Service / The Lowell Sun

Facing a midyear budget deficit, lawmakers and Gov. Charlie Baker in February rerouted those excess capital-gains revenues into the general fund. Massachusetts Taxpayers Foundation President Eileen McAnneny said fiscal 2015 capital-gains tax revenues have come in at about $1.6 billion, exceeding the amount anticipated from the February change.

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Manzi makes taxes the issue in Beverly

Aug 20 2015

By Nelson Benton, The Salem News

ccording to the latest Massachusetts Taxpayers Foundation survey of municipal financial data, the comparative tax bill for owners of a single-family home in Beverly ($5,031) stacked up pretty well against the state average of $5,257 and those in the surrounding communities of Salem ($5,944) and Danvers ($5,276). Peabody’s ($4,406) was the lowest among North Shore cities, which may explain why Bettencourt is without an opponent.
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Coalition would raise taxes on Massachusetts residents earning more than $1 million annually

Aug 2 2015

By Shira Schoenberg, MassLive

Eileen McAnneny, president of the business-oriented Massachusetts Taxpayers Foundation, noted that there already is progressiveness in the tax code, due to exemptions and credits that are available to low-income individuals. According to 2013 figures from the Department of Revenue, taxpayers earning more than $100,000 already pay 72 percent of the taxes collected in Massachusetts, even though they make up just 19 percent of taxpayers. Those earning more than $1 million annually pay 20 percent of all the income taxes collected in the state.
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Sales tax holiday in Massachusetts approved by key committee

Jul 28 2015

By Shira Schoenberg, MassLive

But budgetary watchdogs take a different perspective. Eileen McAnneny, president of the Massachusetts Taxpayers Foundation, said she understands the impulse to help retailers. But, she said, "From a budget standpoint, it's harder to justify." McAnneny argued that the sales generated by the tax holiday would have happened anyway, just at a different time.
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As vote looms, concern raised over tax holiday

Jul 27 2015

By Joshua Miller, The Boston Globe

Eileen McAnneny, president of the business-backed Massachusetts Taxpayers Foundation, said from a budgetary standpoint the sales tax holiday “is getting increasingly more difficult to justify, given the [state’s] structural deficit” and funding levels remaining essentially static for most parts of state government.
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Tax credit deal is just not enough

Jul 21 2015

By Shirley Leung, The Boston Globe

On July 8, the day the Legislature passed the budget, the four major business groups in town — Associated Industries of Massachusetts, the Massachusetts Taxpayers Foundation, the Greater Boston Chamber of Commerce, and the Massachusetts Business Roundtable — joined forces to urge Baker to veto the measure that would eliminate FAS 109, an accounting rule that includes hefty tax deductions for some companies.
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Baker, legislative leaders strike deal to keep business tax break

Jul 19 2015

By Matt Murphy and Michael Norton, State House News Service / WBJournal

According to Associated Industries of Massachusetts, the Greater Boston Chamber of Commerce, the Massachusetts Business Roundtable and the Massachusetts Taxpayers Foundation, the agreement "provides certainty for the state's businesses regarding the FAS 109 deduction for several years, and such predictability is critical for economic growth and business development." Baker last week said he did not view repealing the FAS-109 deduction as a tax increase, while Massachusetts Taxpayers Association President Eileen McAnneny said she believed the repeal was a tax hike.
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Beacon Hill leaders keep corporate tax deduction intact

Jul 18 2015

By Jon Chesto, The Boston Globe

The Associated Industries of Massachusetts, Greater Boston Chamber of Commerce, Massachusetts Business Roundtable, and Massachusetts Taxpayers Foundation had urged the Legislature to reconsider the deduction repeal when it first became public last week. Also, individual companies such as Verizon expressed concerns.
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Making good on a promise to help the poor

Jul 10 2015

By Shirley Leung, The Boston Globe

The major business groups — from the Massachusetts Taxpayers Foundation to Associated Industries of Massachusetts — have sent a letter to Baker, urging him to veto that part of the budget. Their argument: Companies like certainty, and changing the tax law mid-stream cements Massachusetts’ reputation as a bad place to do business.
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Tarr questions closed door deal on taxes

Jul 10 2015

By Michael Norton, State House News Service / NewburyPort News

In a letter to Baker released Wednesday afternoon, the heads of the Massachusetts Taxpayers Foundation, Associated Industries of Massachusetts, the Greater Boston Chamber of Commerce and the Massachusetts Business Roundtable urged him to veto the plan to repeal the FAS 109 deduction, saying reversing course on the policy “sends a troubling message to businesses that agreements are always subject to change” and contributes to the state’s “poor reputation for tax predictability.”
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