SENATE DOCKET, NO. 367 FILED ON: 1/28/2021
SENATE . . . . . . . . . . . . . . No. 1856
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The Commonwealth of Massachusetts
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PRESENTED BY:
Ryan C. Fattman
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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 stimulating small business investment.
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PETITION OF:
Name: | District/Address: |
Ryan C. Fattman | Worcester and Norfolk |
SENATE DOCKET, NO. 367 FILED ON: 1/28/2021
SENATE . . . . . . . . . . . . . . No. 1856
By Mr. Fattman, a petition (accompanied by bill, Senate, No. 1856) of Ryan C. Fattman for legislation to stimulate small business investment. Revenue. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1653 OF 2019-2020.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Second General Court
(2021-2022)
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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 2018 Official Edition, is hereby amended by inserting after section 38HH the following section:-
Section 38II. 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.