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No New Tax Deal Yet

June 7, 2007
June 7, 2007.  The working group met on and off this week attempting to reach an agreement in principle on the structure of the replacement tax.  The discussions were focused on whether a modified gross receipts tax or a net worth tax should be the companion tax to a business income tax.  Rumors indicate that a general outline may have been agreed to but nothing will be set in stone until revenue projections are run and rates are determined.  It looks like more information will be available early next week.