On March 16, Massachusetts officials announced a tax amnesty program, effective immediately, to recoup delinquent corporate taxes. The program is part of a larger effort by the Baker administration and the Department of Revenue (DOR) to raise funds to close the Commonwealth’s midyear budget deficit. Baker hopes the plan, which he and the Legislature authorized earlier this year, will generate $18 million from 24,000 qualifying taxpayers.
Governor Baker also recently announced that the DOR will be under new leadership. Mark Nunnelly, a former managing director at Bain Capital and partner at Bain & Company, will replace Patrick appointee Amy Pitter as DOR Commissioner. Nunnelly was also named as special advisor to Baker for technology and innovation competitiveness. As the new Commissioner, Nunnelly will be responsible for managing the Commonwealth’s revenue stream and administering tax law, as the Commonwealth seeks to maximize its revenue to help avoid painful cuts.
Please see full publication below for more information.
