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Richard Jones was quoted in the article, "Mass. House OKs Cut In Capital Gains Tax Rate," published by Law360 [sub. req'd].

The article discusses the tax package approved by the Massachusetts House which would cut the tax rate on short-term capital gains from 12% to 5% over two years. It would also move the state to a single-sales-factor apportionment for the corporate excise tax, replacing the state's three-factor apportionment rule.

Rich told Law360 that "moving to single-sales-factor apportionment, from the state's current three-factor apportionment with sales double-weighted, benefits companies that keep payroll and property in the state and creates a worse result for out-of-state companies."

In addition, he noted, Massachusetts allows single-factor apportionment already for manufacturing companies.