As we keep our feet under us making the transition to a new year, we also have to keep our eyes on changes to the tax code that will impact filers. Every state has its annual updates, and we did an extensive walkthrough of Massachusetts changes at our tax seminar towards the end of 2008.

An online version of state-specific information is posted here, and some highlights include:

- significant incentives designed to spur innovation, especially for life sciences companies

- combined reporting that alters the way multi-state corporations will calculate income

- corporate tax rate reductions that better align C corps and S corps

We encourage you to check out the presentation, and to let us know if there are other 2009 questions that we should take a look at.