MA H2860

Bill

Relative to closing offshore corporate tax loopholes

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)

Josh Cutler (D)*, Brian Ashe (D), Ruth Balser (D), Christine Barber (D), Michael Brady (D), Pete Capano (D), Carolyn Dykema (D), Dylan Fernandes (D), Tami Gouveia (D), Natalie Higgins (D), Patrick Kearney (D), Jack Lewis (D), Kate Lipper-Garabedian (D), Elizabeth Malia (D), Susan Moran (D), Brian Murray (D), Tram Nguyen (D), Patrick O'Connor (R), Maria Robinson (D), Lindsay Sabadosa (D), Walter Timilty (D), Andy Vargas (D), Tommy Vitolo (D),

Last Action

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

Official Document

https://malegislature.gov/Bills/192/H2860

(14 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/H2860
Bill	https://malegislature.gov/Bills/192/H2860.pdf

Bill	Bill Name	Last Action	Type
H3003	Ensuring consistent reimbursement of PILOT funding	Accompanied a study order, see H5245	Similar To
H5279	Study Order	No further action taken	Replaced by
S1802	Relative to providing better notices and protections in the process for collecting delinquent property taxes	Accompanied a study order, see H5247	Similar To
S1812	To close corporate tax loopholes and create progressive revenue	Accompanied a study order, see H5279	Similar To
S1813	Improving the fairness of our tax laws	Accompanied a study order, see H5247	Similar To
S1839	Relative to restoring corporate tax rates	Accompanied a study order, see H5279	Similar To
S1851	Closing the single sales factor tax loophole	Accompanied a study order, see H5247	Similar To
S1860	Relative to the small commercial tax exemption	Accompanied a study order, see H5250	Similar To
S1867	Relative to taxes due upon the death of active duty personnel and the elderly	Bill reported favorably by committee and referred to the committee on Senate Rules	Similar To
S1907	Relative to excessive executive compensation	Accompanied a study order, see H5250	Similar To
S1911	Relative to the Massachusetts estate tax code	Accompanied a new draft, see H4997	Similar To
S1975	Granting property tax relief to seniors	Accompanied a study order, see S2743	Similar To
S1983	Relative to the film tax credit	Accompanied a study order, see H5250	Similar To
S2312	Relative to motor vehicle excise taxes	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill > H2860

MA H2860

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (23)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary