Bill > H3023

This bill amends Chapter 271 of the General Laws to modify the tax exemption for charitable raffles by adding a threshold of $12,000. Currently, the law appears to impose a tax on raffle proceeds, but this amendment would exempt small charities from being taxed on raffle proceeds that are $12,000 or less. By setting this monetary threshold, the legislation aims to reduce the financial burden on smaller charitable organizations that rely on raffles as a fundraising method. The bill specifically inserts the phrase "over $12,000" after the word "proceeds" in the existing law, which means charities generating raffle proceeds at or below $12,000 would not be subject to taxation, potentially providing financial relief and encouraging charitable fundraising activities for smaller organizations.

Budget and Finance

https://malegislature.gov/Bills/194/H3023