summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to restore corporate tax rates. Revenue.
AI Summary
This bill seeks to restore corporate tax rates in Massachusetts. Specifically, it proposes to increase the corporate income tax rate from 9% to 10.5% for tax years beginning on or after January 1, 2023 and thereafter. The bill also changes the corporate income tax rates for certain prior tax years, gradually increasing the rate from 8% to 9.5% between 2010 and 2023. The purpose of this bill is to generate additional revenue for the state through higher corporate taxation.
Committee Categories
Budget and Finance
Sponsors (14)
Sal DiDomenico (D)*,
Mike Barrett (D),
Michael Brady (D),
Mike Connolly (D),
Manny Cruz (D),
Jamie Eldridge (D),
Adam Gómez (D),
Vanna Howard (D),
Pat Jehlen (D),
Jason Lewis (D),
Rita Mendes (D),
Liz Miranda (D),
Becca Rausch (D),
Erika Uyterhoeven (D),
Last Action
Accompanied a study order, see H4720 (on 06/12/2024)
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/193/S1788 |
| BillText | https://malegislature.gov/Bills/193/S1788.pdf |
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