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 establish a tiered corporate minimum tax. Revenue.
AI Summary
This bill establishes a tiered corporate minimum tax in Massachusetts. Under the new system, corporations with total sales in the Commonwealth less than $1 million will pay a minimum tax of $456, while those with sales between $1 million and $5 million will pay $1,500, and the minimum tax increases in tiers up to $150,000 for corporations with sales over $1 billion. The new minimum tax structure will apply to tax years beginning on or after January 1, 2023.
Committee Categories
Budget and Finance
Sponsors (17)
Adam Gómez (D)*,
Mike Barrett (D),
Michael Brady (D),
Mike Connolly (D),
Manny Cruz (D),
Julian Cyr (D),
Sal DiDomenico (D),
Jamie Eldridge (D),
Vanna Howard (D),
Pat Jehlen (D),
Jason Lewis (D),
Rita Mendes (D),
Liz Miranda (D),
Mike Moore (D),
Jake Oliveira (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/S1835 |
| BillText | https://malegislature.gov/Bills/193/S1835.pdf |
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