Join us to hear from two influential leaders as they discuss how the Commonwealth can lead the AI Revolution.
01/21/2025
9:30am - 11:00am
Greater Boston Chamber of Commerce
Hear from James E. Rooney about the state of the economy, and how it all matters to businesses, residents, and policymakers.
01/22/2025
2:00pm - 2:30pm
Virtual
Join on us on Friday, January 31, as we host our highly anticipated 2025 Pinnacle Awards Luncheon.
01/31/2025
11:00am - 1:30pm
Omni Boston Hotel at the Seaport
Go deeper than basic DEI training to achieve higher productivity, satisfaction, and revenue growth with our new corporate workshop.
Join our Transformational DEI Certificate! Our comprehensive learning & development offerings are designed to connect and grow strong leaders who lead both inside and out of the office.
Our Women’s Leadership Program enables you to take your leadership to the next level by arming you with the most in-demand leadership toolkit.
Our Boston’s Future Leaders (BFL) program provides emerging leaders with a socially conscious and civically engaged leadership toolkit, as well as the opportunity to apply their knowledge through experiential assignments.
City Awake empowers young professionals in a variety of ways that encourages these rising leaders to stay invested in the region’s future success.
We are developing an ecosystem of corporations and partners with the influence and buying power to transform economic inclusion for minority business enterprises (MBEs).
The Fierce Urgency of Now Festival brings Boston’s diverse young professionals together with business leaders, organizations, and their peers to build connection, advance careers and ignite positive change.
09/14/2024 -
09/17/2024
Suffolk University - Sargent Hall
BIMA (the Boston Interactive Media Association) serves a vibrant community of like-minded professionals from agencies, brands, publishers, and ad-tech companies with business interests in the New England market.
For 30 years, the Chamber’s Women’s Network has connected female professionals of all background and career levels. Today, our Women’s Network is the largest in New England, strengthening the professional networks of women each year.
The Massachusetts Apprentice Network convenes employers, training providers, and talent sources interested in developing and implementing apprenticeship programs in occupations across industries and statewide in fields such as tech, advanced manufacturing, healthcare, financial services, and more.
We support small business through public policy initiatives, events designed to connect small businesses in Greater Boston to their peers and established business leaders, professional development offerings, and free small business advising.
Explore our mission and values to better understand how we are leading the business community forward.
Our member directory is your resource to discover, connect, and engage with Boston’s businesses from every industry and sector.
Chamber Testifies in Support of Single Sales Factor for Corporate Tax Apportionment
The Greater Boston Chamber of Commerce submitted testimony in support of S.1936, An Act relative to single sales factor, offered by Senator Moore. The proposed legislation would put Massachusetts on par with the majority of states and remove a disincentive for business investment in the state.
This bill gives multi-state businesses the option to shift to a to a single sales factor for their corporate tax apportionment formula. Currently, Massachusetts requires multi-state businesses (other than manufacturing, defense, and mutual fund companies) to determine their tax liability based on a three-factor apportionment, weighing the in-state sales, property, and payroll as a percentage of nationwide sales, property, and payroll. The sales factor is double weighted in Massachusetts. Under SSF, the sales factor is the only factor and there are no payroll or property components in the apportionment formula.
The single sales approach is increasingly popular, with more than half of all states using single sales. As of January 2022, 29 of 44 states with a corporate income tax either use single sales or are in the process of shifting to a single sales formula, including six added since 2018.[1] Although Massachusetts was among the first states to adopt the single sales factor for specific industries, it now lags other states in adopting it across industries. Competitor states like California, New York, and New Jersey all use a single sales formula, as well as Connecticut and Rhode Island.
As more states adopt the single sales approach, Massachusetts employers are at a competitive disadvantage. The three-factor formula, even with double-weighted sales, penalizes companies for investing in the region through property and people. For example, if there are two companies with the same amount of sales but one has thousands of employees in Massachusetts and the other has none, the company with thousands of employees must allocate a greater amount of income to Massachusetts for tax purposes. Businesses with global or national headquarters in the state are most severely penalized. By using a single sales formula, the Legislature will remove the penalty for investing resources into property and payroll in the state.
We urge the Committee to advance S.1936 to modernize our tax code and remove a disincentive for businesses to invest and grow their operations in Massachusetts.
[1] Federation of Tax Administrators, State Apportionment of Corporate Income, January 2021 https://www.taxadmin.org/assets/docs/Research/Rates/apport.pdf
Popular Resources