HOUSE DOCKET, NO. 2141        FILED ON: 1/17/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2516

 

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

1/17/2019

Bradford Hill

4th Essex

1/24/2019

Elizabeth A. Poirier

14th Bristol

1/17/2019

Susan Williams Gifford

2nd Plymouth

1/17/2019

Paul K. Frost

7th Worcester

1/30/2019

Todd M. Smola

1st Hampden

1/31/2019

Timothy R. Whelan

1st Barnstable

1/28/2019

Randy Hunt

5th Barnstable

1/28/2019

David F. DeCoste

5th Plymouth

1/28/2019

William L. Crocker, Jr.

2nd Barnstable

1/28/2019

Angelo L. D'Emilia

8th Plymouth

1/29/2019

Steven S. Howitt

4th Bristol

1/30/2019

Josh S. Cutler

6th Plymouth

1/31/2019

Kimberly N. Ferguson

1st Worcester

2/1/2019

Donald H. Wong

9th Essex

1/31/2019

Joseph D. McKenna

18th Worcester

2/1/2019

Hannah Kane

11th Worcester

2/1/2019

Shaunna L. O'Connell

3rd Bristol

2/1/2019

Bruce E. Tarr

First Essex and Middlesex

2/1/2019


HOUSE DOCKET, NO. 2141        FILED ON: 1/17/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2516

By Mr. Jones of North Reading, a petition (accompanied by bill, House, No. 2516) of Bradley H. Jones, Jr., and others relative to the calculation of the inventory tax on certain corporations.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-First General Court
(2019-2020)

_______________

 

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 2016 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, 2020.

SECTION 7. Section 2 of this act shall be effective on January 1, 2021.

SECTION 8. Section 3 of this act shall be effective on January 1, 2022.

SECTION 9. Section 4 of this act shall be effective on January 1, 2023.

SECTION 10. Section 5 of this act shall be effective on January 1, 2024.