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New Mexico Governor Susana Martinez, a rising star among GOP politicians, is calling for a steep reduction in the corporate tax rate. She proposes cutting the rate from 7.6 to 4.9 percent. That is good news. The corporate income tax is -- and will likely remain -- one of the worst ways to raise revenue for state governments...
But Martinez is also calling for corporations to have the option of using either the current three factor formula or a single sales factor formula to calculate their tax liabilities... Giving companies an option makes the corporate income tax almost voluntary... So what is the point of having the tax?
View David Brunori's opinion in its entirety on the taxanalysts® Blog.
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