State Taxes

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The Big Giveaway: Costly Tax Credit has Done Little to Boost Employment
A new tax break that allows some businesses to pay next to nothing in income taxes winds up mostly in the pockets of the extremely wealthy. A new tax credit that allows manufacturers and some other businesses to pay next to nothing in income taxes has ballooned far beyond original cost estimates and has done little to promote job creation. The Manufacturing and Agriculture Credit, which lawmakers passed in 2011, nearly wipes out income taxes for manufacturers and agricultural producers — at a very steep price.