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 relative to the taxation of small business in the Commonwealth. Revenue.
AI Summary
This bill proposes to increase the total receipts thresholds for small businesses to qualify for lower corporate tax rates in the Commonwealth of Massachusetts. Specifically, it would raise the threshold for the lower tax rate from $6 million to $12 million, and the threshold for the higher tax rate from $9 million to $18 million. Additionally, the bill includes a provision that would automatically increase these thresholds annually based on the percentage change in the Consumer Price Index.
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/S1928 |
| Bill | https://malegislature.gov/Bills/192/S1928.pdf |
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