HOUSE DOCKET, NO. 2122 FILED ON: 1/19/2017
HOUSE . . . . . . . . . . . . . . . No. 2604
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The Commonwealth of Massachusetts
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PRESENTED BY:
Bradley H. Jones, Jr.
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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.
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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
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In the One Hundred and Ninetieth General Court
(2017-2018)
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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.