"A Massachusetts victory would result in a flood of revenues that would offset budget problems. If the state loses, however, refunds of several hundred million dollars will exacerbate its financial condition"
Are you effin crapping me? TAXPAYERS would have to GIVE MORE MONEY to CORPORATIONS while our STATE SHITS OUT?
"Tax cases could bring Mass. $1b; Courts poised to rule on where corporations pay" by Casey Ross, Globe Staff | November 4, 2008
Massachusetts courts are poised to rule on three tax disputes at the crux of the Department of Revenue's efforts to reclaim $1 billion from corporations it has accused of skirting tax laws. The outcome will have major ramifications, as a massive budget shortfall is causing Massachusetts to cut staff and services.
Now let me get this straight: The taxpayer has to PAY STATE ATTORNEYS to go after businesses that AVOID TAXES? After all the TAXPAYER $$$ that is DOLED OUT to THEM?
No wonder I hate lootonomics!!!!
The rulings, expected within the next several months, will likely determine hundreds of similar corporate tax fights. The underlying issue revolves around how companies apportion profits and other business activities to entities in other states. A Massachusetts victory would result in a flood of revenues that would offset budget problems. If the state loses, however, refunds of several hundred million dollars will exacerbate its financial condition.
So WHO are the CROOKS?!!
The Massachusetts Supreme Judicial Court last month heard final arguments in cases against Toys Inc., operator of Toys "R" Us, and Capital One Financial Corp.
What's in YOUR wallet, Capital One? TAXPAYER $$$$?
And yesterday a state Appeals Court heard the state's case against TJX Cos. These are being closely watched around the country, as other states seek to curb strategies that companies use to lower tax bills. Some of the biggest names in corporate America are fighting Massachusetts on this front: Microsoft Corp., Comcast Corp., and Home Depot Inc., among other firms.
That can't be good; lots of money and power buying good attorneys there. Guess it will be up to the courts and judges now.
"These decisions are going to be big news nationwide," said Donald Griswold, a Washington, D.C., attorney who has represented MBNA Corp., the credit card company owned by Bank of America Corp., in similar cases before supreme courts in Indiana and West Virginia.
Indiana and West Virginia tax authorities won those cases, and officials in other states have also prevailed against Toys "R" Us, prompting some tax specialists to predict the Common wealth will also win. If it does, revenue Commissioner Navjeet K. Bal predicts companies with similar disputes will promptly settle instead of fighting the legal odds.
The dispute arose in the 1990s when corporations began employing aggressive tactics to save on tax bills. Since then, Massachusetts has sued hundreds of companies for back taxes totaling more than $1 billion. Some firms have agreed to pay before the cases have been resolved, reserving their right to get their money back if the state loses. --more--"
But, but, but... business is good, right?!!!!
Yeah, they can CHEAT the TAXPAYERS while ACCEPTING THEIR LARGESSE!!!!
They should join the politicians in the harbor!
