Calls to End Disney $600 Million ‘Tax Cheat’ Loophole

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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.

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