December 17, 2007
Taxes, And More Taxes
By Cory Hopkins
Total state and local tax payments by Bay State businesses increased by 45 percent, or $4.2 billion, between 2002 and 2007, according to a new study commissioned by the Associated Industries of Massachusetts Foundation.
In contrast, non-business state and local taxes rose only 33 percent during the same period, according to the study.
Richard Lord, AIM's president and CEO, said the new figures should go a long way toward showing business is "paying its fair share."
Since the end of the recession in 2002, business-related taxes grew at an annual rate of 7.7 percent, from $9.3 billion in 2002 to $13.5 billion this year.
The report was prepared by accounting firm Ernst & Young LLP.
In contrast, non-business state and local taxes rose only 33 percent during the same period, according to the study.
Richard Lord, AIM's president and CEO, said the new figures should go a long way toward showing business is "paying its fair share."
Since the end of the recession in 2002, business-related taxes grew at an annual rate of 7.7 percent, from $9.3 billion in 2002 to $13.5 billion this year.
The report was prepared by accounting firm Ernst & Young LLP.
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