HOUSE DOCKET, NO. 2122        FILED ON: 1/19/2017

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2604

 

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

1/19/2017

Susan Williams Gifford

2nd Plymouth

1/17/2018

Paul K. Frost

7th Worcester

1/17/2018

Todd M. Smola

1st Hampden

2/3/2017

F. Jay Barrows

1st Bristol

1/17/2018

Angelo L. D'Emilia

8th Plymouth

1/17/2018

Sheila C. Harrington

1st Middlesex

1/17/2018

Steven S. Howitt

4th Bristol

1/17/2018

Timothy R. Whelan

1st Barnstable

1/17/2018

Kimberly N. Ferguson

1st Worcester

1/17/2018

Hannah Kane

11th Worcester

1/17/2018

Randy Hunt

5th Barnstable

1/17/2018

Nicholas A. Boldyga

3rd Hampden

1/17/2018

David K. Muradian, Jr.

9th Worcester

1/17/2018

Josh S. Cutler

6th Plymouth

1/17/2018

Donald R. Berthiaume, Jr.

5th Worcester

1/17/2018

Shaunna L. O'Connell

3rd Bristol

1/17/2018


HOUSE DOCKET, NO. 2122        FILED ON: 1/19/2017

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2604

By Mr. Jones of North Reading, a petition (accompanied by bill, House, No. 2604) of Bradley H. Jones, Jr., and others relative to the calculation of the inventory tax on certain corporations.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 2560 OF 2015-2016.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninetieth General Court
(2017-2018)

_______________

 

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 2014 Official Edition, is hereby amended, in line 37, 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 line 37, 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 line 37, 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 line 37, 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, 2018.

SECTION 7. Section 2 of this act shall be effective on January 1, 2019.

SECTION 8. Section 3 of this act shall be effective on January 1, 2020.

SECTION 9. Section 4 of this act shall be effective on January 1, 2021.

SECTION 10. Section 5 of this act shall be effective on January 1, 2022.