MA S1998

Bill

Allowing for the deduction of business interest

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation to allow for the deduction of business interest. Revenue.

AI Summary

This bill amends Massachusetts state tax law to allow for the deduction of business interest, regardless of the provisions of Section 163(j) of the federal Internal Revenue Code. Specifically, it updates the definition of "Code" in Chapters 62 and 63 of the Massachusetts General Laws to exclude the application of Section 163(j) when determining the amount of business interest deductible for Massachusetts state tax purposes. The bill is effective for taxable years beginning after December 31, 2017.

Committee Categories

Budget and Finance

Sponsors (1)

Bruce Tarr (R)*,

Last Action

Accompanied a study order, see H5248 (on 10/03/2022)

Official Document

https://malegislature.gov/Bills/192/S1998

(12 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S1998
Bill	https://malegislature.gov/Bills/192/S1998.pdf

Bill	Bill Name	Last Action	Type
H1150	Reducing the costs for small business	No further action taken	Similar To
H300	Encouraging the growth of small businesses	No further action taken	Similar To
H3138	Relative to the fair participation of minority and women-owned businesses on public construction projects	No further action taken	Similar To
H346	Allowing businesses to sign up for the "Do Not Call" list	Accompanied a study order, see H4880	Similar To
H5248	Study Order	No further action taken	Replaced by
S153	Encouraging the growth of small businesses	Bill reported favorably by committee and referred to the committee on Senate Rules	Similar To
S1919	Relative to real estate tax abatements to help businesses impacted by the Phase IV reopening plan	Accompanied a study order, see H5250	Similar To
S2051	Reducing the costs for small businesses	Accompanied H3121	Similar To
S2165	Increasing solar rooftop energy	Accompanied a study order, see S2715	Similar To
S229	Allowing businesses to sign up for the "Do Not Call" list	Accompanied a study order, see S2666	Similar To
S2536	Relative to small businesses and the sale of certain cultural products	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S268	To provide startup capital for minority entrepreneurs	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill

Bill Name

Last Action

Type

H1150

Reducing the costs for small business

No further action taken

Similar To

H300

Encouraging the growth of small businesses

No further action taken

Similar To

H3138

Relative to the fair participation of minority and women-owned businesses on public construction projects

No further action taken

Similar To

H346

Allowing businesses to sign up for the "Do Not Call" list

Accompanied a study order, see H4880

Similar To

H5248

Study Order

No further action taken

Replaced by

S153

Encouraging the growth of small businesses

Bill reported favorably by committee and referred to the committee on Senate Rules

Similar To

S1919

Relative to real estate tax abatements to help businesses impacted by the Phase IV reopening plan

Accompanied a study order, see H5250

Similar To

S2051

Reducing the costs for small businesses

Accompanied H3121

Similar To

S2165

Increasing solar rooftop energy

Accompanied a study order, see S2715

Similar To

S229

Allowing businesses to sign up for the "Do Not Call" list

Accompanied a study order, see S2666

Similar To

S2536

Relative to small businesses and the sale of certain cultural products

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

S268

To provide startup capital for minority entrepreneurs

Bill reported favorably by committee and referred to the committee on Senate Ways and Means

Similar To

Bill > S1998

MA S1998

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

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