Bill > S1978

This bill amends Section 5 of Chapter 59 of the Massachusetts General Laws by adding a new clause (Fifty-ninth) to the existing law regarding property tax exemptions. Specifically, the bill proposes to exempt various types of merchandise and inventory from taxation when those goods are situated in Massachusetts, including finished goods, products, wares, stock in trade, work in progress, materials, supplies, and archived or stored goods. By adding this new clause, the bill aims to provide a tax exemption for businesses holding inventory within the state, which could potentially reduce the tax burden on companies and potentially make Massachusetts a more business-friendly environment by eliminating the inventory tax.

Budget and Finance

https://malegislature.gov/Bills/194/S1978