Of course, the seeming necessity of such cuts might be seen as an argument against hard budget constraints for sub-national governments, but, assuming such constraints, it seems reasonable to assume that the least fortunate will disproportionately benefit from a more stable
tax base just as they now suffer disproportionately from an unstable one.
Certain state-specific addition and subtraction modifications are then applied to arrive at the state
tax base.
The City of North Bay has made cuts to offer one-third less on the industrial
tax base, but Wilson finds no evidence of new companies coming North.
There was a marked difference in the components of the franchise
tax base for domestic and foreign corporations.
In computing Pennsylvania's franchise tax, Unisys calculated its
tax base with regard to its own net worth and average income, using a three-factor apportionment formula taking into account its own payroll, tangible property, and sales for those years.
The Agreement contains a library with definitions of the
tax base that a state has to adopt in its statutes and regulations if a particular definition appears in its sales and use tax statutes.
The Consultation Document acknowledges that IAS accounts would serve, at most, as a starting point for arriving at a
tax base and not the
tax base itself.
State and local governments will use common
tax bases and accept responsibility for notice of rate and boundary changes.
Exhibit 1, page 46, compares the important aspects of each one, plus the Gephardt proposal, emphasizing how the
tax base, rates and credits differ.
Finally, a significant deduction is allowed that limits the
tax base to no more than 50% of adjusted gross receipts.
