Bill
Bill > H2688
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 timing of contractual reimbursements for the federal manufacturer’s excise tax on petroleum products. Telecommunications, Utilities and Energy.
AI Summary
This bill amends Massachusetts state law to allow one party to a contract to reimburse the other party for the federal manufacturer's excise tax on petroleum products one business day before the other party is required to remit the taxes to the Internal Revenue Service. The party exercising this option may be required to provide security for the tax payment, but the other party cannot change the other payment terms of the contract without a valid business reason, except to require the tax payment to be made by electronic transfer. The party exercising this option must provide written notice to the other party at least 30 days in advance or the beginning of the next federal tax quarter, whichever is later.
Committee Categories
Transportation and Infrastructure
Sponsors (2)
Last Action
Accompanied a study order, see H4651 (on 06/25/2018)
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/H2688 |
| Bill | https://malegislature.gov/Bills/190/H2688.pdf |
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