HOUSE DOCKET, NO. 2910        FILED ON: 2/18/2021

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3018

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

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

_________________

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.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

William Tessmer

 

2/18/2021


HOUSE DOCKET, NO. 2910        FILED ON: 2/18/2021

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3018

By Mr. Muradian of Grafton (by request), a petition (accompanied by bill, House, No. 3018) of William Tessmer relative to certain tax reporting requirements.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 3813 OF 2019-2020.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Second General Court
(2021-2022)

_______________

 

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.