HOUSE DOCKET, NO. 2412        FILED ON: 1/15/2015

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2560

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Bradley H. Jones, Jr.

_________________

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 the gradual elimination of the inventory tax.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Bradley H. Jones, Jr.

20th Middlesex

1/15/2015

Bradford R. Hill

4th Essex

1/29/2015

Elizabeth A. Poirier

14th Bristol

1/16/2015

Susan Williams Gifford

2nd Plymouth

11/20/2019

Todd M. Smola

1st Hampden

11/20/2019

Paul K. Frost

7th Worcester

11/20/2019

F. Jay Barrows

1st Bristol

11/20/2019

Sheila C. Harrington

1st Middlesex

11/20/2019

Shawn Dooley

9th Norfolk

11/20/2019

Keiko M. Orrall

12th Bristol

11/20/2019

Angelo L. D'Emilia

8th Plymouth

11/20/2019

Joseph D. McKenna

18th Worcester

11/20/2019

Steven S. Howitt

4th Bristol

11/20/2019

Kimberly N. Ferguson

1st Worcester

11/20/2019

Leah Cole

12th Essex

11/20/2019

Kevin J. Kuros

8th Worcester

11/20/2019

Timothy R. Whelan

1st Barnstable

11/20/2019

Donald R. Berthiaume, Jr.

5th Worcester

11/20/2019

Randy Hunt

5th Barnstable

11/20/2019

David F. DeCoste

5th Plymouth

11/20/2019

James J. Lyons, Jr.

18th Essex

11/20/2019


HOUSE DOCKET, NO. 2412        FILED ON: 1/15/2015

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2560

By Mr. Jones of North Reading, a petition (accompanied by bill, House, No. 2560) of Bradley H. Jones, Jr., and others relative to the calculation of the inventory tax on certain corporations.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Eighty-Ninth General Court
(2015-2016)

_______________

 

An Act relative to the gradual elimination of the inventory tax.

 

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. Subsection (a) of section 39 of chapter 63 of the general laws, as appearing in the 2012 Official Edition, is hereby amended, in clause (1), by striking the figure “$2.60” and inserting in place thereof the following figure:- $2.00.

SECTION 2. Subsection (a) of section 39 of chapter 63 of the general laws, as so appearing, is hereby amended, in clause (1), by striking the figure “$2.00” and inserting in place thereof the following figure:- $1.50.

SECTION 3. Subsection (a) of section 39 of chapter 63 of the general laws, as so appearing, is hereby amended, in clause (1), by striking the figure “$1.50” and inserting in place thereof the following figure:- $1.00.

SECTION 4. Subsection (a) of section 39 of chapter 63 of the general laws, as so appearing, is hereby amended, in clause (1), by striking the figure “$1.00” and inserting in place thereof the following figure:- $.50.

SECTION 5. Subsection (a) of section 39 of chapter 63 of the general laws, as so appearing, is hereby amended by striking clause (1) and (2) and inserting in place thereof the following:-

“(1)(i) For tax years beginning before January 1, 2010, 9.5 per cent of its net income determined to be taxable in accordance with this chapter; (ii) for tax years beginning on or after January 1, 2010, but before January 1, 2011, 8.75 per cent of its net income determined to be taxable in accordance with this chapter; (iii) for tax years beginning on or after January 1, 2011, but before January 1, 2012, 8.25 per cent of its net income determined to be taxable in accordance with this chapter; or (iv) for tax years beginning on or after January 1, 2012, 8.0 per cent of its net income determined to be taxable in accordance with this chapter.

SECTION 6. Section 1 of this act shall be effective on January 1, 2016.

SECTION 7. Section 2 of this act shall be effective on January 1, 2017.

SECTION 8. Section 3 of this act shall be effective on January 1, 2018.

SECTION 9. Section 4 of this act shall be effective on January 1, 2019.

SECTION 10. Section 5 of this act shall be effective on January 1, 2020.