summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to establishing a tiered corporate minimum tax. Revenue.
AI Summary
This bill establishes a tiered corporate minimum tax based on a corporation's total sales in the Commonwealth during the taxable year. The minimum tax starts at $456 for corporations with sales less than $1 million and increases incrementally up to $150,000 for corporations with sales of $1 billion or more. The specific tax tiers are outlined in the bill, with thresholds set at $1 million, $5 million, $10 million, $25 million, $50 million, $100 million, $500 million, and $1 billion in total sales.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Accompanied a study order, see H5279 (on 10/06/2022)
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/192/H2853 |
| Bill | https://malegislature.gov/Bills/192/H2853.pdf |
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