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Bill > S1640


MA S1640

Relative to corporate excise tax reform


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 relative to corporate excise tax reform. Revenue.

AI Summary

This bill amends Chapter 63 of the Massachusetts General Laws to provide a non-transferrable tax credit against the corporate excise tax for corporations formed under Chapter 156D. The credit is only available for the first three years the corporation is required to file a return, and it is not allowed for corporations with 50% or more of their voting stock owned by another corporation, whether or not the owning corporation is taxable in the Commonwealth.

Committee Categories

Budget and Finance

Sponsors (3)

Last Action

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

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