summary
Introduced
03/29/2021
03/29/2021
In Committee
04/07/2022
04/07/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to allowing for certain tax deductions of business interest. Revenue.
AI Summary
This bill aims to allow for certain tax deductions of business interest. Specifically, it amends the definition of "Code" in the Massachusetts General Laws to exclude the application of Section 163(j) of the Internal Revenue Code, which limits the deductibility of business interest. This change would effectively allow businesses in Massachusetts to deduct more of their business interest expenses when calculating their state tax liability, starting for taxable years beginning after December 31, 2017.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
No further action taken (on 01/03/2023)
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/H2967 |
| Bill | https://malegislature.gov/Bills/192/H2967.pdf |
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