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 close a corporate tax haven loophole. Revenue.
AI Summary
This bill aims to close a corporate tax haven loophole by amending Section 32B of Chapter 63 of the General Laws. It defines a list of jurisdictions considered "tax havens" and requires the commissioner to submit a biannual report to the legislature with recommendations for additions or subtractions from this list. The commissioner can also require a taxable member making a water's-edge election to submit a domestic disclosure spreadsheet providing detailed information on income reported, tax liability, and the water's-edge group and its affiliated corporations, including income reported to the listed tax haven jurisdictions.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H5279 (on 10/06/2022)
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/S1924 |
| Bill | https://malegislature.gov/Bills/192/S1924.pdf |
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