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
Relative to establishing a tiered corporate minimum tax. Revenue.
AI Summary
This bill establishes a tiered corporate minimum tax in Massachusetts. The minimum tax amount a corporation pays is determined by the total sales of the corporation in the commonwealth during the taxable year. The minimum tax ranges from $456 for corporations with less than $1 million in total sales, up to $150,000 for corporations with $1 billion or more in total sales. This is designed to ensure that all corporations in Massachusetts contribute a minimum amount to state revenue, with higher minimum taxes for larger corporations.
Committee Categories
Budget and Finance
Sponsors (19)
Mike Connolly (D)*,
James Arena-Derosa (D),
Michael Brady (D),
Manny Cruz (D),
Michelle DuBois (D),
Jamie Eldridge (D),
Rodney Elliott (D),
Tricia Farley-Bouvier (D),
Carmine Gentile (D),
Jim Hawkins (D),
Natalie Higgins (D),
David LeBoeuf (D),
Rita Mendes (D),
Sam Montaño (D),
Jake Oliveira (D),
Steve Owens (D),
Becca Rausch (D),
Lindsay Sabadosa (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/H2743 |
| BillText | https://malegislature.gov/Bills/193/H2743.pdf |
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