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Massachusetts Senate to Debate $55.8 Billion Budget on
Monday
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The Massachusetts Senate opens debate on its $55.8
billion Fiscal Year 2024 (FY24) budget proposal on Monday, May
22. As mentioned last week, senators left roughly $575 million
aside for a potential tax relief package, which according to Senate
leadership, will come after the budget is done.
Like the House proposal, the Senate’s budget would evenly split
revenue generated by the surtax on income over $1 million between
education and transportation. Unlike the House proposal, the Senate
does not plan to change how future potential Chapter 62F refunds are
distributed to eligible Massachusetts taxpayers.
Read more about the Senate budget proposal in the links below:
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MassCPAs Testifies on Corporate Tax Legislation
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The MassCPAs government affairs team submitted testimony
to the Joint Committee on Revenue for its May 16 hearing on several
bills related to corporate tax changes. We were pleased to write in
support of and opposition to various pieces of legislation that would
impact the Commonwealth’s competitiveness, economy and outlier status
across the country.
We appreciate the opportunity to testify before the Joint Committee
on Revenue and will keep you posted on any developments as they
arise.
To read our letter in support of several bills, click
here.
To read our letter in opposition of several bills, click
here.
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CPA License Renewal Information
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The deadline for odd-year licensees is June 30. Renew
your CPA license today!
Renewal links and information:
- Access your ePLACE Portal account and
renew your license here
- Request an Authorization Code to
access your account here
- Check your MassCPAs CPE tracker here –
for directions on how to export the CPE tracking sheet to
your license renewal form, click
here
Retired or retiring CPAs: There is no
retired CPA status in Massachusetts. If you plan to maintain a
current CPA license in retirement you must fulfill 80 hours of CPE.
CPA Firm Renewal
Affidavit Forms are due by August 1, 2023. To access
the Firm Affidavit Form, click
here. (The
form is dated 2022, but you may use it to renew for this year. The
2023 form will be posted here once the Division of Professional
Licensure uploads it to its website).
Please note: You may experience technical
issues when accessing the page via Internet Explorer or a search on a
mobile device. If this occurs, please use a different internet
browser to renew your license.
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Massachusetts Business Alliance for Education (MBAE)
Survey
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Calling C-suite executives,
hiring managers, HR professionals, government affairs and policy
professionals. The Massachusetts Business
Alliance for Education (MBAE) is seeking
your feedback about our workforce, education
system and the state’s economic competitiveness. Your insights are
critical to effective advocacy on your behalf – all responses will be
anonymous.
TAKE
THE SURVEY
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Member Feedback: Impact of Recent Bank Failures
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We recently asked for your feedback regarding bank
failures to help provide information and context for our members on
how to think about the impacts. Thank you to those who took the
survey to offer your perspective.
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Federal and State Tax News
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Have a question, ideas or feedback you'd
like to share? We're here for you! Reach out to Larry Liuzzo for
assistance.
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