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.