|
|
Article: States mull solutions to falling corp. tax revenues.(corporate tax collections reducing)
- Article from:
- Accounting Today
- Article date:
- November 7, 2005
- Author:
CopyrightCOPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
States have taken two different paths in response to falling revenue from corporate tax collections.
On the one hand, some states have focused on lowering corporate taxes or at least changing them to make themselves more attractive for investment. At least five states have debated bills to reduce corporate tax rates in 2005, while dozens of others have introduced bills that shift corporate taxes away from the property and employees of corporations, and onto the customers of corporations.
On the other hand, some states are trying to shore up declining corporate tax collections by attempting to tax more companies with only tenuous connections to states, or ...