SENATE DOCKET, NO. 2028        FILED ON: 1/18/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1653

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Ryan C. Fattman

_________________

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 stimulating small business investment.

_______________

PETITION OF:

 

Name:

District/Address:

 

Ryan C. Fattman

Worcester and Norfolk

 

Michael J. Soter

8th Worcester

2/1/2019


SENATE DOCKET, NO. 2028        FILED ON: 1/18/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1653

By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1653) of Ryan C. Fattman and Michael J. Soter for legislation to stimulate small business investment.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1528 OF 2017-2018.]

 

The Commonwealth of Massachusetts

 

_______________

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

_______________

 

An Act stimulating small business investment.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Chapter 63 of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting after section 38FF the following section:-

Section 38GG. A business corporation shall be allowed a credit against its tax liability imposed under this chapter equal to not more than the first $500,000 of revenue earned by said corporation during the taxable year for which the tax is due. The credit allowed by this section shall not reduce the excise to an amount less than the amount due under subsection (b) of section 39 of this chapter.