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
For legislation to establish a tax credit for small businesses. Revenue.
AI Summary
This bill establishes a tax credit for small businesses, defined as sole proprietorships, partnerships, limited liability companies, and other businesses with under 500 employees or under $28.5 million in annual revenue, depending on the industry. The tax credit amount would be up to 15% of the money spent by the small business on gasoline or diesel fuel for vehicles owned by the company or driven by employees as part of normal business operations. The Department of Revenue is responsible for administering and enforcing the tax credit program.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H5248 (on 10/03/2022)
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/S1952 |
| Bill | https://malegislature.gov/Bills/192/S1952.pdf |
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