Massachusetts loses hundreds of millions of dollars each year to offshore corporate tax dodging — money that would otherwise support local families and communities here in Massachusetts.
That’s because billionaire global corporations like Apple, Amazon, McDonalds, & Walmart conceal their profits in offshore tax havens to avoid paying their fair share in Massachusetts taxes. You pay your taxes — why shouldn’t they pay theirs?
Offshore tax dodging also gives billionaire global corporations an unfair advantage over local businesses, which can’t hide their profits offshore. Massachusetts companies, from neighborhood shops to successful homegrown businesses, are forced to compete with their billionaire global corporate rivals on an uneven playing field.
It’s time to combat offshore tax dodging and make the world’s most profitable mega-corporations pay their fair share in state taxes, instead of cutting public services like healthcare and education that we all rely upon.
Massachusetts is facing the threat of budget cuts that will hurt our healthcare, education, infrastructure, and other public services — all while these billionaire global corporations stand to benefit from another round of federal tax breaks!
Our Mass. Corporate Fair Share legislation would make large global mega-corporations pay the state’s existing corporate tax rate on a higher share of the excess profits they conceal offshore, raising over $400 million in new annual revenues. By standing up to corporate power, Massachusetts can level the playing field for local businesses and adequately fund the public services we all rely upon.