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 relative to the taxation of small business in the commonwealth. Revenue.
AI Summary
This bill aims to amend Section 32D of Chapter 63 of the General Laws in Massachusetts, which relates to the taxation of small businesses. The key provisions of the bill are:
1) It increases the total receipt threshold for small businesses to qualify for certain tax exemptions and credits from $6 million to $12 million.
2) It further increases the total receipt threshold for higher tax exemptions and credits from $9 million to $18 million.
3) It also includes a provision that the total receipt thresholds will be adjusted annually based on the percentage change in the Consumer Price Index, ensuring that the thresholds keep pace with inflation.
Committee Categories
Budget and Finance
Sponsors (1)
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/S1578 |
| Bill | https://malegislature.gov/Bills/190/S1578.pdf |
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