While all politics may indeed be local, all recessions are not.
The Center for Budget and Policy Priorities, a non-profit Washington D.C. budget and policy think tank that pays special attention to state finances, has just released a report on states' fiscal pictures and the portrait remains dark and gloomy.
Only Montana and North Dakota, states bouyed by mineral-rich economies, have avoided fiscal distress.
The combined budget gap in the states for FY 10 and FY 11 is in the neighborhood of $350 billion. Federal stimulus funds of about $140 billion will offset this gap by about 40 percent, but the stimulus money will run out at the time when the gaps between revenues and expenditures are growing wider, in FY11.
Commute to work on the T, Commuter Rail or Turnpike? You may be eligible for a Massachusetts Commuter Deduction on your tax return! posted on Jul 16
The Commuter Deduction was enacted by the Legislature to cover specific commuter expenses. To help understand the deduction, the Department of Revenue’s DOR University has released an e-learning module explaining what qualifies for a deduction, real-life examples and how you can claim your commuter deduction …Continue Reading Commute to work on the T, Commuter Rail or Turnpike? You may be eligible for a Massachusetts Commuter Deduction on your tax return!
DOR Offers FREE E-Learning Course on Fraternal Organization Tax Responsibilities posted on Jul 9
Help get the word out! The Department of Revenue’s online DOR University has recently developed a new free e-learning course on the tax responsibilities of fraternal organizations. Fraternal organizations are considered a type of Chapter 180 Corporation, which are formed for charitable or other purposes. …Continue Reading DOR Offers FREE E-Learning Course on Fraternal Organization Tax Responsibilities
New Boat Owners: Don’t Get Landlocked This July 4th Weekend! posted on Jun 25
This is traditionally one of the busiest periods of the summer at DOR offices as new boat owners come in to pay sales taxes on their boats or other recreational vehicles, so they can enjoy the holiday weekend on the water. So, want to …Continue Reading New Boat Owners: Don’t Get Landlocked This July 4th Weekend!