In an new Op-Ed, Florida Republican Matt Gaetz called for Florida to end what he called a $600 million “tax cheat” loophole from Disney.
Gaetz also wrote:
This allows Florida to fully realize Disney’s corporate income taxes from as a proportion of their overall, or “combined” reported income. The nonpartisan Florida Revenue Estimating Conference says that this measure would have a recurring impact of $591.7 million on Florida’s budget. That’s $591.7 million that Florida Man and Florida Woman have to shoulder because Disney has fancy lawyers, lobbyists and accountants.
If Mickey’s ears are purchased in Orlando, that revenue shouldn’t find itself taxable in Delaware through nifty accounting and outdated laws. Combined reporting is hardly a tool of liberals. Even Texas made the obvious change to protect the pocketbooks of its own citizens.
Gaetz in @OrlandoSentinel: Close the Disney Tax Loophole
“The @WaltDisneyCo benefits from a Florida Tax Code loophole that should be closed. Big business shouldn’t be able to use political influence and power to avoid paying their fair share.”https://t.co/e6jsraaW43
— Rep. Matt Gaetz (@RepMattGaetz) April 8, 2022
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