summary
Introduced
03/06/2017
03/06/2017
In Committee
03/30/2017
03/30/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
Relative to the excise imposed upon sales for capital investments to small businesses. Revenue.
AI Summary
This bill provides tax incentives for small businesses in Massachusetts. It amends the state's sales tax law to impose lower tax rates on capital investments made by small businesses, defined as independently owned and operated businesses with a principal place of business in the Commonwealth that would be considered small under federal law. Specifically, the bill establishes a tiered tax system where sales or services for capital investments to small businesses are taxed at 6% for investments between $91,000 and $180,000, 5.75% for investments between $180,000 and $270,000, and 5.5% for investments over $270,000, rather than the standard 6.25% sales tax rate.
Committee Categories
Budget and Finance
Sponsors (14)
Jim Arciero (D),
Evandro Carvalho (D),
Mark Cusack (D),
Mike Day (D),
Carlos González (D),
Adam Hinds (D),
Donald Humason (R),
Dan Hunt (D),
Eric Lesser (D),
James Miceli (D),
Rady Mom (D),
Frank Moran (D),
Aaron Vega (D),
Jon Zlotnik (D),
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/H3461 |
| Bill | https://malegislature.gov/Bills/190/H3461.pdf |
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