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 phase out the corporate excise tax on property of net worth. Revenue.
AI Summary
This bill proposes to phase out the corporate excise tax on property of net worth in Massachusetts over a period of 7 years. Specifically, the bill gradually reduces the tax rate from $2.60 per $1,000 of net worth in 2018 to $0.00 per $1,000 of net worth starting in 2025 and all subsequent years. This change applies to both tangible property corporations and intangible property corporations. The bill's provisions are effective for tax years beginning on or after January 1, 2018.
Committee Categories
Budget and Finance
Sponsors (4)
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/S1647 |
| Bill | https://malegislature.gov/Bills/190/S1647.pdf |
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