Marty Walsh on Corporations

Voted YES on closing $85 million in corporate tax loopholes

This vote was on an amendment to an omnibus tax reform bill. The amendment would close $85 million in corporate tax loopholes, including one loophole that allows companies to shift profits out of state in order to avoid taxation. A vote of YES indicates support of closing the corporate tax loopholes.

The relevant part of the MassDems Platform is Part iv, ECONOMIC GROWTH, Clause 3: We support sanctions to prohibit companies that utilize offshore tax havens, thereby avoiding payment of state and federal taxes, from gaining lucrative contracts for business with the state and federal government.

Bill H. 4163, doc. 4167 ; vote number H074

Voted YES on defeating corporate tax disclosure

Would study corporate tax disclosure, defeating measure to implement it. The vote is to amend Section 470 of the FY04 budget (New Section 457a) to establish a special commission on taxation, consisting of 5 Democrats and 2 Republicans. The Commission will make its recommendations in January 2004 [hence postponing the disclosure rule until the next fiscal year].

Relevant section of platform:PART IV: ECONOMIC GROWTH, JOBS & SECURITY: A Healthy Business Environment: "We support monitoring the costs of doing business in the Commonwealth, so that companies can grow and compete while still meeting their obligations to workers and the community."

Source citation: Bill H.4000 Section 470 ; vote number 69

Voted YES on Extending corporate tax credit 5 years

Would extend corporate tax credit 5 years. Vote was on an amendment to the FY04 Budget, Outside Section 165, changing the limit on corporate tax credits from 14 years to 19 years. The corporate tax credit is in MGL 63-31a, which allows an excise tax credit for manufacturing companies on leased equipment.

Relevant section of platform:PART IV: ECONOMIC GROWTH, JOBS & SECURITY: A Healthy Business Environment: "We support tax incentives for business when accompanied by commitments to good corporate citizenship and enforceable terms assuring continued investment in Massachusetts."

Source citation: Bill H.4000 Section 165 ; vote number 71