Tax News

CCH (cch.taxgroup.com) reports:

  Massachusetts Gov. Deval Patrick has released a proposed budget for fiscal year 2010 that would:

  -- eliminate existing sales tax exemptions on alcoholic beverages, sweetened beverages, and candy;

  -- increase the state meals and hotel occupancy taxes by 1%;

  -- authorize cities and towns to impose a 1% local option tax on meals and increase local option hotel taxes by 1%;

  -- eliminate property tax "loopholes" applicable to telecommunications companies;

  -- increase motor vehicle registration fees; and

  -- require disclosure, on the tax credit disclosure/accountability Web site currently being developed, of the names of taxpayers who receive refundable or transferable tax credits and the number of jobs created through these credits.

  Budget documents are available on the Governor's Web site at
http://www.mass.gov/bb/h1/fy10h1/msg10/hdefault.htm.

FY2010 Budget Narrative , Massachusetts Gov. Deval Patrick, January 28, 2009