MTF Opposes Repeal of Single Sales Factor Legislation

Legislative Testimony: MTF testimony in opposition to legislation that would undo important tax reforms for manufacturers and mutual fund companies, two key elements of the state's export sector. By repealing or curtailing the "single sales factor," Senate Bills 1645, 1751 and 1754 would undercut a critical initiative to improve the competitive landscape for these major Massachusetts employers at a time when they are struggling to cope with the impacts of a slowing economy and unstable financial markets. While competitor states have followed Massachusetts' lead in adopting the single sales factor, the proposed legislation would reverse course, adding to the already high cost of doing business in the state.