HOUSE DOCKET, NO. 3710 FILED ON: 1/23/2017
HOUSE . . . . . . . . . . . . . . . No. 3461
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The Commonwealth of Massachusetts
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PRESENTED BY:
Aaron Vega
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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 providing tax incentives for small businesses.
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PETITION OF:
Name: | District/Address: | Date Added: |
Aaron Vega | 5th Hampden | 1/23/2017 |
James Arciero | 2nd Middlesex | 2/3/2017 |
Evandro C. Carvalho | 5th Suffolk |
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Mark J. Cusack | 5th Norfolk | 2/8/2017 |
Michael S. Day | 31st Middlesex | 2/2/2017 |
Carlos González | 10th Hampden | 2/8/2017 |
Adam G. Hinds | Berkshire, Hampshire, Franklin and Hampden | 2/3/2017 |
Donald F. Humason, Jr. | Second Hampden and Hampshire | 1/24/2017 |
Daniel J. Hunt | 13th Suffolk | 2/3/2017 |
Eric P. Lesser | First Hampden and Hampshire | 2/3/2017 |
James R. Miceli | 19th Middlesex | 1/28/2017 |
Rady Mom | 18th Middlesex | 1/30/2017 |
Frank A. Moran | 17th Essex | 1/26/2017 |
Jonathan D. Zlotnik | 2nd Worcester | 2/2/2017 |
HOUSE DOCKET, NO. 3710 FILED ON: 1/23/2017
HOUSE . . . . . . . . . . . . . . . No. 3461
By Mr. Vega of Holyoke, a petition (subject to Joint Rule 12) of Aaron Vega and others relative to the excise imposed upon sales for capital investments to small businesses. Revenue. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 3297 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 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.