U.S. Rep. Matt Gaetz believes Disney’s woke policies should cost the company a sweet loophole in Florida’s tax code.

Rep. Gaetz: Woke Disney Should Lose Corporate Tax Break Of $600M A Year

U.S. Rep. Matt Gaetz believes Disney’s woke policies should cost the company a sweet loophole in Florida’s tax code.

Writing in the Orlando Sentinel on Friday, the Fort Walton Beach Republican admitted he was wrong to oppose a Democratic idea to close a tax provision that favored Disney and other giant conglomerates.

Gaetz recalled that when he served as chairman of the Finance and Tax Committee in the Florida House in 2015 and 2106, then-Democratic state Rep. Jose Javier Rodriguez wanted to block big companies from shifting revenue generated in Florida to other states, where they could take advantage of tax shelters. Rodriguez’s proposal was referred to as “combined reporting.”

“At the time Disney had a vise grip on the Republican majority” in the Legislature, Gaetz wrote. “Disney was the company that most utilized this tax loophole to screw the people of Florida.”

“They sent an army of lobbyists to oppose the Rodriguez amendment. I was wrong to disagree with him at all. I regret my vote on that matter. The Florida Legislature should do what I did not — make Disney pay what they owe, based on the business they do in our state.”

Gaetz noted that this provision leaves $592 million in tax revenue on the table – an amount that “Florida Man and Florida Woman have to shoulder because Disney has fancy lawyers, lobbyists, and accountants.”

Gaetz pointed out that even Texas has ended such generous policies.

“For businesses large and small, transactions occurring in Florida should be taxed here. After all, Disney’s patrons use Florida roads. If they call 911, a Florida law-enforcement officer will show up and, if needed, take them to a hospital supported financially by Floridians,” Gaetz wrote.

“The Walt Disney Company, which grossed $72.9 billion last year, should be accurately reporting its income in the states and countries where its business is conducted,” the congressman added.

“This misreported taxable income belongs to Florida, which the state Legislature has the power to reclaim. In order to accomplish this, the Florida Legislature can act now. Combined reporting on state income taxes would require multistate corporations to add all profits from subsidiaries in all states into one report, providing accurate and fair reporting on taxable income to the IRS.”

“I envision a Sunshine State where all corporations play fair and, consequentially, hard-working Floridians pay less in taxes. I hope you join me, as I call on both Democrats and Republicans in the Florida Legislature to act now and end the Disney tax loophole,” Gaetz concluded.

Gaetz did not specifically mention Disney’s opposition to Florida’s new Parental Rights in Education law, which prohibits school districts and classroom teachers from implementing lesson plans about sexual orientation or gender ideology.

Disney, reportedly standing behind its LGBTQ workforce, has pledged to get the law repealed or overturned in the courts.

But his op-ed appeared as GOP lawmakers in Tallahassee and Washington are probing ways to fight back against the company’s extreme wokeness.

For example, Republicans in Florida have discussed repealing the 55-year-old law that allows Disney to govern itself as a special district, as well as not renewing the company’s U.S. copyright on its star, Mickey Mouse, which would mean Mickey enters the public domain in January 2024.   

On April 2, amid such discussions, Gaetz tweeted, “Things that scare Disney: Municipal dissolution, copyright expiration, and combined reporting. DMs [direct messages] open for FL legislators. I’ll tell you how to trap this rodent.”

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One Reply to “Rep. Gaetz: Woke Disney Should Lose Corporate Tax Break Of $600M A Year”

  1. Isn’t it funny. When you agreed with them the tax break was OK. Not that you disagree with them you say it never should have happened.

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