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Bill > S1648


MA S1648

Relative to extending single sales factor apportionment to all corporations


summary

Introduced
01/23/2017
In Committee
01/23/2017
Crossed Over
Passed
Dead
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)

bill text


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