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Joint Committee on Revenue

Joint Committee on Revenue. State & Local Taxes in Massachusetts Fall 2009 Listening Tour. Representative Jay R. Kaufman Senator Benjamin B. Downing House Chair Senate Chair. State & Local Revenue in Massachusetts.

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Joint Committee on Revenue

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  1. Joint Committee on Revenue State & Local Taxes in Massachusetts Fall 2009 Listening Tour Representative Jay R. Kaufman Senator Benjamin B. Downing House Chair Senate Chair

  2. State & Local Revenue in Massachusetts Source: FY 2006 Massachusetts State & Local Revenue, US Census Bureau

  3. What Does Your State Tax Dollar Buy? Source: Executive Office of Administration & Finance, FY 2008

  4. Elements of Good Tax Policy • Adequacy • Fairness/Equity • Certainty/Stability • Congruency with Policy Goals • Responsibilities and Authority Aligned • Efficiency (Administrative and Economic) • Transparency • Simplicity

  5. Elements of Good Tax Policy • Adequacy • Fairness/Equity • Certainty/Stability • Congruency with Policy Goals • Responsibilities and Authority Aligned • Efficiency (Administrative and Economic) • Transparency • Simplicity

  6. Massachusetts State & Local Taxes in 1977 Fiscal Year 1977-78 State & Local Taxes as a % of Personal Income Source: Massachusetts Budget & Policy Center

  7. Massachusetts State & Local Taxes Now Fiscal Year 2007 State & Local Taxes as a % of Personal Income Source: Massachusetts Budget & Policy Center

  8. State & Local Tax Revenue 1998 - 2008 Income Tax ($1.4b) Source: Massachusetts Budget & Policy Center

  9. Elements of Good Tax Policy • Adequacy • Fairness/Equity • Certainty/Stability • Congruency with Policy Goals • Responsibilities and Authority Aligned • Efficiency (Administrative and Economic) • Transparency • Simplicity

  10. State & Local Taxes: Impact on Residents 2007 State & Local Taxes Shares of Family Income Source: Institute for Taxation & Economic Policy, 2009

  11. Elements of Good Tax Policy • Adequacy • Fairness/Equity • Certainty/Stability • Congruency with Policy Goals • Responsibilities and Authority Aligned • Efficiency (Administrative and Economic) • Transparency • Simplicity

  12. Massachusetts Capital Gains Revenue Capital Gains Revenue FY 2000 to FY 2010 * 2009 & 2010 Estimates Executive Office of Administration & Finance Source: Massachusetts Taxpayers Foundation

  13. Elements of Good Tax Policy • Adequacy • Fairness/Equity • Certainty/Stability • Congruency with Policy Goals • Responsibilities and Authority Aligned • Efficiency (Administrative and Economic) • Transparency • Simplicity

  14. Elements of Good Tax Policy • Adequacy • Fairness/Equity • Certainty/Stability • Congruency with Policy Goals • Responsibilities and Authority Aligned • Efficiency (Administrative and Economic) • Transparency • Simplicity

  15. Elements of Good Tax Policy • Adequacy • Fairness/Equity • Certainty/Stability • Congruency with Policy Goals • Responsibilities and Authority Aligned • Efficiency (Administrative and Economic) • Transparency • Simplicity

  16. Elements of Good Tax Policy • Adequacy • Fairness/Equity • Certainty/Stability • Congruency with Policy Goals • Responsibilities and Authority Aligned • Efficiency (Administrative and Economic) • Transparency • Simplicity

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