SALES, RENTAL TAXES AMONG MORE THAN $400 MIL IN NEW SENATE REVENUES [+MEDIA]
By Colin A. Young
STATE HOUSE NEWS SERVICE
STATE HOUSE, BOSTON, MAY 16, 2017.....Without raising existing tax rates, the Massachusetts Senate projects that it could generate an additional $409 million in tax revenue in fiscal year 2018 by applying existing taxes to new payers, changing how the state collects some taxes, and taking other steps.
The Senate budget released Tuesday morning by the Committee on Ways and Means calls for the state to levy a 5 percent excise tax upon all short-term room rentals through websites like Airbnb and VRBO, a proposal that the committee estimates would generate $18 million in annual revenue.
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