MA S1605

Bill

Modernizing the corporate excise tax

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 relative to the corporate excise tax. Revenue.

AI Summary

This bill aims to modernize the corporate excise tax in Massachusetts. It amends Chapter 63 of the General Laws to update the corporate excise tax rates. Specifically, it sets the tax rate at 9.5% of net income for tax years before 2010, gradually reducing it to 8% for tax years beginning on or after January 1, 2012. The bill also exempts certain businesses engaged in selling tangible personal property from the income measure of the tax, but subjects them to a $456 excise tax instead. The changes in this bill will take effect on January 1, 2018.

Committee Categories

Budget and Finance

Sponsors (1)

Michael Rodrigues (D),

Last Action

Accompanied a study order, see S2497 (on 04/30/2018)

Official Document

https://malegislature.gov/Bills/190/S1605

(14 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S1605
Bill	https://malegislature.gov/Bills/190/S1605.pdf

Bill	Bill Name	Last Action	Type
H1490	Restoring the harbors and inland waters maintenance fund	Accompanied a study order, see H4244	Similar To
H1556	Relative to tax return filing deadlines	Accompanied a study order, see H4244	Similar To
H1601	Relative to tax return filing deadlines	Accompanied a study order, see H4244	Similar To
H1607	Relative to excise tax exemptions	Accompanied a study order, see H4244	Similar To
H1611	Relative to the corporate excise tax	Accompanied a study order, see H4244	Similar To
H2726	Relative to motor vehicle excise taxes	No further action taken	Similar To
H3702	Authorizing the town of Great Barrington to establish an additional excise on sales of gasoline and diesel fuel	Accompanied a new draft, see H3912	Similar To
H3707	Authorizing the town of Lee to establish an additional excise on sales of gasoline and diesel fuel	Accompanied a new draft, see H3912	Similar To
S103	To update the alcohol excise tax	Hearing scheduled for 10/03/2017 from 01:00 PM-04:00 PM in A-1	Similar To
S1556	To pro-rate the corporate excise tax	Accompanied a study order, see S2497	Similar To
S1647	To phase out the corporate excise tax on property of net worth	Accompanied a study order, see S2497	Similar To
S1648	Relative to extending single sales factor apportionment to all corporations	Accompanied a study order, see S2497	Similar To
S2497	Order relative to authorizing the joint committee on Revenue to make an investigation and study of certain current Senate documents relative to revenue matters	Reported (in part) by S1507	Replaced by
S376	Relative to corporations, shareholders, and political expenditures	Accompanied a study order, see S2399	Similar To

Bill

Bill Name

Last Action

Type

H1490

Restoring the harbors and inland waters maintenance fund