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
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)
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/H1611 |
| Bill | https://malegislature.gov/Bills/190/H1611.pdf |
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