SENATE DOCKET, NO. 1304        FILED ON: 1/16/2015

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1480

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Ryan C. Fattman

_________________

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 stimulating small business investment.

_______________

PETITION OF:

 

Name:

District/Address:

Ryan C. Fattman

Worcester and Norfolk

Mathew Muratore

1st Plymouth

Richard J. Ross

Norfolk, Bristol and Middlesex

Kevin J. Kuros

8th Worcester


SENATE DOCKET, NO. 1304        FILED ON: 1/16/2015

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1480

By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1480) of Ryan C. Fattman, Mathew Muratore, Richard J. Ross and Kevin J. Kuros for legislation to stimulating small business investment.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 2558 OF 2013-2014.]

 

The Commonwealth of Massachusetts

 

_______________

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

_______________

 

An Act stimulating small business investment.

 

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

Chapter 63 of the General Laws, as most recently amended by chapter 224 of the Acts of 2014, is hereby amended by inserting after section 38FF the following new section:-

Section 38GG. (a) A business corporation shall be allowed a credit against its tax liability imposed under this chapter equal to not more than the first $500,000 of revenue earned by said corporation during the taxable year for which the tax is due.

(b) The credit allowed by this section shall not reduce the excise to an amount less than the amount due under subsection (b) of section 39.