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
For legislation to create a super research and development tax credit. Revenue.
AI Summary
This bill proposes the creation of a "super research and development tax credit" in Massachusetts. It would allow businesses that qualify for the existing research expense tax credit to claim an additional credit equal to the amount their qualified research expenses exceed a "super credit base amount," which is defined as the average of their research expenses over the previous 5 years increased by 50%. The credit is limited to 50% of the business's tax liability after other credits, and unused credits can be carried forward for up to 5 years. The bill also specifies how the credit would apply to corporations filing combined tax returns.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H5080 (on 11/02/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S1770 |
| Bill | https://malegislature.gov/Bills/191/S1770.pdf |
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