Bill > S1609

This bill aims to improve the fairness of our tax laws. The key provisions include: 1. Imposing an additional excise tax on certain non-insurance trade or business income of insurance companies, with some exceptions. 2. Increasing the excise tax rates on cigars, smoking tobacco, and smokeless tobacco. 3. Imposing an additional real estate transfer tax of $5 per $500 of consideration over $1 million. 4. Expanding the definition of "doing business in the commonwealth" for the purposes of the hotel/motel room occupancy tax to include various activities by operators and room resellers. 5. Requiring room resellers to register and collect the room occupancy tax, and establishing rules for how the tax should be applied in cases involving room resellers. 6. Clarifying the sales tax treatment of certain leases and rentals between related entities, and providing a new exemption for certain out-of-state sales. 7. Dedicating revenue from the sales tax on aircraft to a small business technical assistance program.

Budget and Finance

https://malegislature.gov/Bills/191/S1609