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
Relative to certain tax reporting requirements. Revenue.
AI Summary
This bill amends the Massachusetts General Laws to require third-party settlement organizations (TPSOs) to report additional information on Form 1099-K that differs from the federal reporting requirements. Specifically, TPSOs must report payments to payees with a Massachusetts address when the gross amount paid exceeds $10,000 or the number of transactions exceeds 100 in a calendar year. Additionally, the bill states that the gross amount paid on Form 1099-K issued by TPSOs is subject to taxation under Chapter 62 of the Massachusetts General Laws.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H5245 (on 09/22/2022)
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/H3018 |
| Bill | https://malegislature.gov/Bills/192/H3018.pdf |
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