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Massachusetts FY2015 Budget Includes Several Tax Changes
Posted by Tarra Curran on Fri, Jul 18, 2014 @ 09:18 AM

Authors: Tarra Curran, CPA, MST and Leo Drury, CPA

Massachusetts Gov. Deval Patrick on July 11, 2014 signed into law the Commonwealth’s $36.5 billion FY2015 budget, which includes a number of business and tax-related topics, among them authorizing a tax amnesty program, clarifying how corporations compute net worth for excise tax purposes, and delaying the FAS 109 deduction.

At the same time, the governor issued $16.1 million in non-tax-related, line-item spending vetoes, including $2.2 million for the Department of Correction, $1.8 million for state parks and recreation, and $549,000 for a state dam program. The new budget also eliminates earmarks for a variety of smaller projects.

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Topics: Tarra Curran, Massachusetts, FY2015 Budget, Leo Drury

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