CCH (cch.taxgroup.com) reports:
On July 3, 2008, Massachusetts Governor Deval Patrick signed into law a corporate tax reform bill that reduces the corporate excise rate for business corporations from 9.5% to 8.0% and for financial institutions from 10.5% to 9.0% by 2012. The legislation adopted combined reporting that requires corporations that are engaged in unitary business operations to file combined returns with their affiliates. The bill also adopted the federal "check the box" rules for business entity classification.
Subscribers to the CCH Tax Research NetWork can view the full text of the release.
Press Release , Massachusetts Governor Deval L. Patrick, July 3, 2008.
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