Rep. Matt Gaetz (R-FL) charged in an op-ed Friday that the Florida legislature should end Disney’s $600 million tax cheat loophole.
Gaetz explained in an op-ed that Walt Disney Corporation benefits from a Florida tax code loophole that has allowed Disney to potentially skirt around hundreds of millions of dollars in state corporate income taxes. To fix this loophole, Gaetz, a former Florida House chairman of Finance and Tax, wrote that Florida should join the majority of states in adopting combined reporting of state corporate income taxes.