Bill > H3057

This bill establishes a new tiered corporate minimum tax structure for businesses operating in Massachusetts, where the tax amount increases progressively based on the corporation's total annual sales in the state. The tax tiers range from $456 for corporations with sales under $1 million to $150,000 for corporations with sales of $1 billion or more. Specifically, the bill amends Section 39 of Chapter 63 of the General Laws by replacing the existing subsection (b) with a detailed nine-tier tax schedule that calculates minimum tax obligations based on precise sales thresholds. The sales figures used to determine the tax tier are to be calculated according to subsection (f) of section 38, which likely provides specific guidelines for measuring corporate sales within the commonwealth. This graduated approach means that as a corporation's sales increase, they will be subject to increasingly higher minimum tax rates, potentially providing a more nuanced and proportional tax structure for businesses of different sizes.

Budget and Finance

https://malegislature.gov/Bills/194/H3057