Bill
Bill > H2838
MA H2838
Relative to the timing of reimbursement for federal manufacturers excise tax
summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to the timing of contractual reimbursements for the federal manufacturer’s excise tax on petroleum products. Telecommunications, Utilities and Energy.
AI Summary
This bill amends the Massachusetts General Laws to allow one party in a contract to reimburse the other party for the federal manufacturer's excise tax on petroleum products one business day before the other party is required to remit the taxes to the Internal Revenue Service. The party exercising this option may be required to provide security for the payment of the taxes, but the other party cannot change the other payment terms of the contract without a valid business reason, except to require the payment of the taxes by electronic transfer of funds. The party exercising this option must provide written notice to the other party at least 30 days in advance or at the beginning of the next federal tax quarter, whichever is later.
Committee Categories
Transportation and Infrastructure
Sponsors (1)
Last Action
Accompanied a study order, see H4405 (on 02/10/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://malegislature.gov/Bills/191/H2838 |
Bill | https://malegislature.gov/Bills/191/H2838.pdf |
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