Bill > S1603

This bill proposes several changes to Massachusetts General Laws related to taxation and economic growth, primarily by extending certain tax provisions and adjusting payment schedules for corporate taxes. Specifically, it amends Section 6 of Chapter 62 and Section 38Q of Chapter 63 by extending the applicability of certain tax figures from 2013 and 2014 to 2015 and 2016, respectively. It also adds a provision to Section 39 of Chapter 63, granting a $456 tax credit against the excise tax for qualifying corporations under Section 38DD. Furthermore, the bill modifies subsection (c) of Section 3 of Chapter 63B, changing the payment structure for required corporate tax installments from an unspecified number to four equal installments of 25% of the required annual payment, due on the 15th day of the third, sixth, ninth, and twelfth months of the taxable year.