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Bill > H2860


MA H2860

Relative to closing offshore corporate tax loopholes


summary

Introduced
03/29/2021
In Committee
03/29/2021
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

Relative to tax havens and complete reporting by certain combined groups. Revenue.

AI Summary

This bill aims to close offshore corporate tax loopholes by amending the Massachusetts General Laws to require members of a combined group, subject to tax under certain sections of Chapter 63, to determine their apportioned share of the taxable net income or loss of the combined group, including the income and apportionment factors of all the members regardless of their location. The goal is to ensure complete reporting by certain combined groups and prevent the use of tax havens to avoid paying taxes.

Committee Categories

Budget and Finance

Sponsors (23)

Last Action

Accompanied a study order, see H5279 (on 10/06/2022)

bill text


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