Bill
Bill > S1648
MA S1648
Relative to extending single sales factor apportionment to all corporations
summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
For legislation to extend single sales factor apportionment to all corporations. Revenue.
AI Summary
This bill extends single sales factor apportionment to all corporations in Massachusetts. Specifically, it amends the state's corporate excise tax law to require that a corporation's taxable net income be apportioned to Massachusetts by multiplying it by 100% of the sales factor, rather than using a formula that also considers property and payroll factors. The bill also updates the rules for determining the sales factor, including for intangible property, capital assets, and mutual fund sales. These changes will take effect for tax years beginning on or after January 1, 2018.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Accompanied a study order, see S2497 (on 04/30/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://malegislature.gov/Bills/190/S1648 |
Bill | https://malegislature.gov/Bills/190/S1648.pdf |
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