Bill > S2043

This bill modifies the taxation rules for small businesses in Massachusetts by increasing two key financial thresholds in Chapter 63 of the General Laws. Specifically, the legislation raises the threshold from $6,000,000 to $12,000,000, and simultaneously increases another related threshold from $9,000,000 to $18,000,000. Additionally, the bill includes a provision that allows these total receipts thresholds to automatically adjust annually based on changes in the Consumer Price Index (CPI), which is a measure of the average change in prices paid by urban consumers for goods and services. If the CPI decreases in a given year, the thresholds will remain unchanged. By raising these thresholds, the bill effectively provides tax relief and potentially more favorable tax treatment for small businesses in Massachusetts, allowing them to retain more of their earnings before reaching higher tax brackets.

Budget and Finance

https://malegislature.gov/Bills/194/S2043