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Charlie Baker Unveils Massachusetts Tax Cut Plan

Charlie Baker

Baker unveiled a sweeping tax cut proposal at the Massachusetts Chamber of Commerce breakfast on Friday June 10th, reducing corporate sales and income taxes all to 5%.

Corporate Tax Rate at 5%: The proposal is fairly comprehensive, but it would have the effect of greatly simplifying the corporate tax code. The current corporate tax code is complex and taxes businesses in different industries differently with a tax rate in most industries at 8.75%. Baker proposes to reduce the corporate tax rate on all industries to 5% within 4 years.

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