The MACPA State Tax Committee’s analysis of the budget proposed by Governor Moore, including:
- Increase of top tax bracket to 9.7% (actually 10.7% for capital gains)
- Estate exemption reduced from $5m to $2m
- Nominal corporate tax rate decrease from 8.25% to 7.99%
- ‘Combined reporting’ requirement for businesses operating in multi-state (likely resulting in higher tax)
- and more
Read through the analysis and we’ll be keeping our eye on developments that may occur.
