HOUSE DOCKET, NO. 3594        FILED ON: 1/18/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3813

The Commonwealth of Massachusetts

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PRESENTED BY:

David K. Muradian, Jr., (BY REQUEST)

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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 certain tax reporting requirements.

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PETITION OF:

HOUSE DOCKET, NO. 3594        FILED ON: 1/18/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3813

The Commonwealth of Massachusetts

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

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An Act relative to certain tax reporting requirements.

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 8 of chapter 62C of the General Laws, as amended by section 34 of chapter 47 of the acts of 2017, is hereby amended by striking out the words “the commissioner may require additional reporting requirements that differ from those required by the federal government under the Code” and inserting in place thereof the following words:- the commissioner shall require that third party settlement organizations (TPSO) reporting requirements differ from those required by the federal government under the Code for form 1099-K; provided that the payee with a Massachusetts address when the gross amount paid in settlement in a calendar year exceeds $10,000 or that the number of transactions between the TPSO and the payee exceeds 100 in a calendar year.

SECTION 2. The first paragraph of said section 8 of said chapter 62C, as amended, is hereby further amended by inserting after the first sentence the following sentence:- When the form 1099-K is issued by the TPSO, the gross amount paid shall be subject to taxation under chapter 62.