SENATE DOCKET, NO. 345        FILED ON: 1/28/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1931

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Michael O. Moore

_________________

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 equalizing the Department of Revenue interest rates.

_______________

PETITION OF:

 

Name:

District/Address:

Michael O. Moore

Second Worcester


SENATE DOCKET, NO. 345        FILED ON: 1/28/2021

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1931

By Mr. Moore, a petition (accompanied by bill, Senate, No. 1931) of Michael O. Moore for legislation to equalize the Department of Revenue interest rates.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1725 OF 2019-2020.]

 

The Commonwealth of Massachusetts

 

_______________

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

_______________

 

An Act relative to equalizing the Department of Revenue interest rates.

 

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

Subsection (a) of section 32 of chapter 62C of  the General Laws, as appearing in the 2018 Official Edition, is hereby amended by striking out the second sentence and inserting in place thereof the following sentence:-

If any amount of tax is not paid to the commissioner on or before its statutory due date, there shall be added to the tax interest at the rate of the federal short-term rate determined under section 6621(b) of the Internal Revenue Code, as amended and in effect for the taxable year, plus 2 percentage points, computed as simple interest.