summary
Introduced
05/20/2019
05/20/2019
In Committee
05/20/2019
05/20/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to certain tax reporting requirements. Revenue.
AI Summary
This bill amends the Massachusetts General Laws to require third-party settlement organizations (TPSOs) to report certain tax information that differs from the federal government's requirements under the Internal Revenue Code (the "Code") for Form 1099-K. Specifically, TPSOs must report payees with a Massachusetts address when the gross amount paid in settlement in a calendar year exceeds $10,000 or when the number of transactions between the TPSO and the payee exceeds 100 in a calendar year. Additionally, the bill states that when the Form 1099-K is issued by a TPSO, the gross amount paid shall be subject to taxation under Chapter 62 of the Massachusetts General Laws.
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/H3813 |
| Bill | https://malegislature.gov/Bills/191/H3813.pdf |
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