Bill > H1482

This bill amends the schedule for payment of estimated corporate taxes in Massachusetts. It changes the existing requirement of four equal installments throughout the year to a new schedule where the first installment is 25% of the estimated tax, paid by the 15th day of the 3rd month of the taxable year, the second and third installments are 25% each, paid by the 15th day of the 6th and 9th months respectively, and the final installment is the remaining 25%, paid by the 15th day of the 12th month. The bill also modifies the schedule for corporations that pay the first installment late, requiring 50% or 75% to be paid by the 9th month depending on when the first installment is made, with the final 25% due by the 12th month.

Budget and Finance

https://malegislature.gov/Bills/190/H1482