The Real Cost of Shelter
Chip Taylor reports that The Council on State Taxation (COST) has a rebuttal to the recent report on corporate tax shelters by the Multistate Tax Commission (MTC). COST, which represents multistate corporations, says that the MTC report overstates the cost to states of unclosed loopholes. According to COST, this is partly due to an overbroad definition of "tax shelters." he also notices that COST's rebuttal isn't getting as much news coverage as the MTC report. Read the whole thing. I wrote about the MTC report here, rather uncritically - just reported their findings. Taylor had an eye-oepning follow-up commentary here, and then today's piece on COST vs the MTC. Taylor's stuff is a must-read.