SECTION 1. Subsection (b) of section 8A of chapter 151A of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by striking out, in both instances, the words “twenty thousand dollars” and inserting in place thereof the following:- $40,000.
SECTION 2. Said subsection (b) of said section 8A of said chapter 151A is hereby further amended by adding the following 2 paragraphs:-
In the case of any year beginning after 2015, the amount of $40,000 shall be adjusted annually to account for changes in cost-of-living, as determined by the commissioner of the department of revenue, for the calendar year in which the taxable year begins. Any change in amount shall be rounded to the nearest multiple of $100.
Employers who exceed the thresholds specified in this section in a single quarter shall again be eligible for exemption from the provisions of this chapter provided they do not exceed said thresholds in any of the remaining and subsequent calendar year.
The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.