Bill

Bill > H1611


MA H1611

Relative to the corporate excise tax


summary

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 corporate excise tax. Revenue.

AI Summary

This bill amends Chapter 63 of the General Laws to update the corporate excise tax. It establishes the corporate excise tax rate as a percentage of the corporation's net income, with the rate decreasing over time from 9.5% to 8% for tax years starting on or after January 1, 2012. The bill also provides an alternative flat-rate excise of $456 for certain corporations engaged in the business of selling tangible personal property and exempt from the income-based tax under federal law.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Accompanied a study order, see H4244 (on 02/22/2018)

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