Bill
Bill > H2755
MA H2755
To level the playing field for Massachusetts small and medium sized businesses
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 the taxation of certain businesses. Revenue.
AI Summary
This bill amends Chapter 63 of the General Laws to require corporations engaged in a "unitary business" to calculate their Massachusetts taxable income based on a combined report, which includes the income, deductions, and receipts of the entire combined group. The bill also allows corporations to elect to treat their affiliated group as the Massachusetts combined group, and sets new tax rates for certain corporations based on the combined group's gross receipts or sales. Additionally, the bill amends Chapter 156C to increase the fees for filing the certificate of organization and annual report for limited liability companies.
Committee Categories
Budget and Finance
Sponsors (4)
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/H2755 |
| BillText | https://malegislature.gov/Bills/193/H2755.pdf |
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