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 the taxation of inventory of tangible property of corporations. Revenue.
AI Summary
This bill aims to gradually reduce the tax rate on the value of tangible property held by manufacturing corporations in Massachusetts. For tax years beginning on or after January 1, 2014, the tax rate would be reduced from $2.60 per $1,000 of tangible property value to $0.00 per $1,000 by 2018. The bill also clarifies the definitions of "manufacturing corporation" and the types of tangible property that are subject to taxation under this provision of the state's corporate excise tax law.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Accompanied a study order, see H5247 (on 09/26/2022)
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/H3097 |
| Bill | https://malegislature.gov/Bills/192/H3097.pdf |
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