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Corporate tax reform should benefit domestic companies

As tax reform becomes a major focus in Washington, Congress faces a unique opportunity to fix a situation that has long favored multinational corporations at the expense of U.S. companies. Doing so could level the playing field for American companies while also delivering an extra $1 trillion in tax revenue over the next decade.

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Tax exemption for digital goods will leave 9-figure budget hole (access required)

But this week, the Legislature proposes to take away at least another $183 million of tax revenue per year without any potential for future economic benefit. Unlike other tax reductions approved by the Legislature in recent years, eliminating the transaction privilege tax, or TPT, on digital goods doesn’t help the state attract one new job or encourage one business to relocate.