SECTION 1. Section 39 of said chapter 63 is hereby amended by inserting after the figure “$456”, in line 52, the following words:- ; provided, however, that qualifying corporations under section 38DD shall receive a credit of $456 against the excise imposed under this section.
SECTION 2. Subsection (c) of section 3 of chapter 63B of the General Laws is hereby amended by striking out the first and second sentences and inserting in place thereof the following 3 sentences:— For purposes of this chapter, there shall be 4 required installments for each taxable year, except as otherwise provided by this chapter. The first installment shall be paid on or before the fifteenth day of the third month of the taxable year; the second installment shall be paid on or before the fifteenth day of the sixth month of the taxable year; the third installment shall be paid on or before the fifteenth day of the ninth month of the taxable year; and the fourth installment shall be paid on or before the fifteenth day of twelfth month of the taxable year. The amount of any installment shall be 25 per cent of the required annual payment.
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