HOUSE DOCKET, NO. 660        FILED ON: 1/14/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2554

The Commonwealth of Massachusetts

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PRESENTED BY:

Lori A. Ehrlich

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to small business tax relief.

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PETITION OF:

HOUSE DOCKET, NO. 660        FILED ON: 1/14/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2554

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 2505 OF 2011-2012.]

The Commonwealth of Massachusetts

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In the Year Two Thousand Thirteen

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An Act relative to small business tax relief.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION  1.  Section 2B of chapter 63 of the General Laws, as appearing in the 2008 Official Edition is hereby amended by striking out subsection (b) and inserting in place thereof the following subsection:

(b) The excise imposed under this section for each taxable year shall be not less than $456; provided however, that an S corporation with total receipts for the most recent taxable year no greater than 1 million dollars and having no greater than 50 employees for the full taxable year shall not be subjected to the minimum excise of $456.

SECTION  2.  The first paragraph of said section 39 of said chapter 63, as so appearing, is hereby amended by adding the following words:-

; and provided further , except that a business corporation  having total receipts in its most recently completed tax year no greater than 1 million dollars and having no greater than 50 employees for the full tax year shall pay, on account of each taxable year, only the excise provided in subsection (a).