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Daniel Ryan was quoted in the article, "Mass. Cuts Biz, Individual Taxes With $1B Package," published by Law360 Tax Authority [sub. req.].

The article discusses Massachusetts' moves to adopt single sales-factor apportionment for business taxes, double its estate tax exemption and cut its tax rate on short-term capital gains under a $1 billion tax-relief package.

On the single sale-factor apportionment, Dan said the change brings Massachusetts on board with the practice of most other states. He called the move "a boon" for companies headquartered in Massachusetts that operate in multiple states, but said it will hurt out-of-state companies operating in Massachusetts.

Then, addressing Gov. Healey's decision to double effective exemption from the state's estate tax, Dan commented that it's better than the current exemption, which he called "somewhat antiquated," noting that many states have no estate tax.

Lastly, speaking to Healey's decision to reduce the tax rate on short-term capital gains, Dan said the business community, including small businesses, "probably got half of what they wanted."

While many of the provisions in the package were ostensibly aimed at curbing taxpayer migration, the biggest driver is the so-called millionaires' tax, the 4% surtax on income above $1 million approved by Massachusetts voters in November, Dan added.

If an owner of a small business, a pass-through entity, with more than $1 million in income is able to conduct that business from, say, Florida or New Hampshire, "there's good reason to do that."