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 corporate tax rates. Revenue.
AI Summary
This bill proposes to restore corporate tax rates in Massachusetts. Specifically, it would increase the corporate excise tax rate from 9% to 10.5% for tax years beginning on or after January 1, 2023 and thereafter. The bill also makes similar changes to the tax rate for certain corporations under Section 39 of Chapter 63 of the General Laws, increasing the rate from 8% to 9.5% for tax years beginning on or after January 1, 2023 and thereafter. This legislation aims to raise revenue by reversing recent reductions in the corporate tax rate in the state.
Committee Categories
Budget and Finance
Sponsors (22)
Mary Keefe (D)*,
Christine Barber (D),
Michael Brady (D),
Mike Connolly (D),
Manny Cruz (D),
Sal DiDomenico (D),
Michelle DuBois (D),
Jamie Eldridge (D),
Rodney Elliott (D),
Carmine Gentile (D),
Jim Hawkins (D),
Natalie Higgins (D),
Vanna Howard (D),
David LeBoeuf (D),
Rita Mendes (D),
Sam Montaño (D),
Steve Owens (D),
Becca Rausch (D),
Lindsay Sabadosa (D),
Margaret Scarsdale (D),
Erika Uyterhoeven (D),
Tommy Vitolo (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/H2856 |
| BillText | https://malegislature.gov/Bills/193/H2856.pdf |
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