HOUSE DOCKET, NO. 1719 FILED ON: 1/15/2015
HOUSE . . . . . . . . . . . . . . . No. 3297
|
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Aaron Vega
_________________
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 providing tax incentives for small businesses.
_______________
PETITION OF:
Name: | District/Address: | Date Added: |
Aaron Vega | 5th Hampden | 1/15/2015 |
RoseLee Vincent | 16th Suffolk | 12/24/2019 |
Frank A. Moran | 17th Essex | 12/24/2019 |
Carlos Gonzalez | 10th Hampden | 12/24/2019 |
Jose F. Tosado | 9th Hampden | 12/24/2019 |
Dennis A. Rosa | 4th Worcester | 12/24/2019 |
HOUSE DOCKET, NO. 1719 FILED ON: 1/15/2015
HOUSE . . . . . . . . . . . . . . . No. 3297
By Mr. Vega of Holyoke, a petition (accompanied by bill, House, No. 3297) of Aaron Vega and others relative to the excise imposed upon sales for capital investments to small businesses. Revenue. |
The Commonwealth of Massachusetts
_______________
In the One Hundred and Eighty-Ninth General Court
(2015-2016)
_______________
An Act providing tax incentives for small businesses.
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 1 of chapter 64H of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by inserting after the definition of “Services” the following definition:-
“Small business”, a business entity, including its affiliates, that: (i) is independently owned and operated; (ii) has a principal place of business in the commonwealth; and (iii) would be defined as a “small business” under applicable federal law, as established in the United States Code and promulgated from time to time by the United States Small Business Administration.
SECTION 2. Section 2 of said chapter 64H, as so appearing is hereby amended by adding the following paragraph:-
Notwithstanding the provisions of this section, the excise imposed upon sales for capital investment to a small business by any vendor, or services performed in the commonwealth for capital investment shall be imposed at the following rates: (1) sales or services from $91,000 to no more than $180,000 shall be taxed at 6 per cent of the receipt from such sale or service; (2) sales or services greater than $180,000 to no more than $270,000 shall be taxed at 5.75 per cent of the receipt from such sale or service; (3) sales or services greater than $270,000 shall be taxed at 5.5 per cent of the receipt from such sale or service.