MA H1645

Bill

Relative to the taxation of inventory in manufacturing

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

Relative to the taxation of inventory of tangible property of corporations. Revenue.

AI Summary

This bill proposes changes to the taxation of inventory for manufacturing corporations in Massachusetts. It amends the state's corporate excise tax law to gradually phase out the taxation of tangible property (inventory) for manufacturing corporations over a 5-year period, reducing the tax rate from $2.00 per $1,000 of inventory value in 2014 to $0.00 per $1,000 in 2018 and beyond. The bill also clarifies the definition of a "manufacturing corporation" for the purposes of this tax exemption.

Committee Categories

Budget and Finance

Sponsors (16)

Jim Arciero (D), Tackey Chan (D), Diana Dizoglio (D), Kim Ferguson (R), Jennifer Flanagan (D), Anne Gobi (D), Carlos González (D), Stephen Hay (D), Steven Howitt (R), Randy Hunt (R), Marc Lombardo (R), Harold Naughton (D), Aaron Vega (D), Timothy Whelan (R), Susannah Whipps (I), Jon Zlotnik (D),

Last Action

Accompanied a new draft, see H3668 (on 05/04/2017)

Official Document

https://malegislature.gov/Bills/190/H1645

(11 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/H1645
Bill	https://malegislature.gov/Bills/190/H1645.pdf

Bill	Bill Name	Last Action	Type
H1556	Relative to tax return filing deadlines	Accompanied a study order, see H4244	Similar To
H1564	Relative to fairness during the phase-in of condominium development	Accompanied a study order, see H4244	Similar To
H1570	To insure fair taxation of affordable housing	Accompanied a study order, see H4244	Similar To
H1572	Clarifying municipalities' rights to assess real estate taxes on commercial uses in common areas of condominium complexes	Accompanied a study order, see H4244	Similar To
H1601	Relative to tax return filing deadlines	Accompanied a study order, see H4244	Similar To
H3668	Relative to the taxation of inventory in manufacturing	No further action taken	Replaced by
S1556	To pro-rate the corporate excise tax	Accompanied a study order, see S2497	Similar To
S1605	Modernizing the corporate excise tax	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
S376	Relative to corporations, shareholders, and political expenditures	Accompanied a study order, see S2399	Similar To
S904	To clarify the charitable purposes of certain organizations	Accompanied a study order, see S2313	Similar To

Bill > H1645

MA H1645

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (16)

Last Action

Official Document

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