State lawmakers are in the thick of the frenzy of patching together a spending plan for the 2014-15 fiscal year that begins July 1. Enacting a budget is a formidable task that entails long, tense negotiations and, since it must be balanced, attention to hundreds of details. Complicating matters further, this year the legislature faces a $1.2 billion deficit and General Elections loom in November.
Reduce the Corporate Net Income Tax, at 9.99 percent the second highest in the country. Stay on track for final phase-out of the Capital Stock & Franchise Tax. Maintain fight against corporations reporting all taxes from all jurisdictions (combined reporting).