HOUSE DOCKET, NO. 418 FILED ON: 1/12/2023
HOUSE . . . . . . . . . . . . . . . No. 2743
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The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Mike Connolly
_________________
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 establishing a tiered corporate minimum tax.
_______________
PETITION OF:
Name: | District/Address: | Date Added: |
Mike Connolly | 26th Middlesex | 1/12/2023 |
Michelle M. DuBois | 10th Plymouth | 1/19/2023 |
Lindsay N. Sabadosa | 1st Hampshire | 1/20/2023 |
Rebecca L. Rausch | Norfolk, Worcester and Middlesex | 1/21/2023 |
Erika Uyterhoeven | 27th Middlesex | 1/26/2023 |
James K. Hawkins | 2nd Bristol | 1/27/2023 |
James C. Arena-DeRosa | 8th Middlesex | 1/30/2023 |
David Henry Argosky LeBoeuf | 17th Worcester | 1/30/2023 |
Michael D. Brady | Second Plymouth and Norfolk | 1/31/2023 |
Steven Owens | 29th Middlesex | 1/31/2023 |
Jacob R. Oliveira | Hampden, Hampshire and Worcester | 2/2/2023 |
Samantha Montaño | 15th Suffolk | 2/2/2023 |
Carmine Lawrence Gentile | 13th Middlesex | 2/2/2023 |
James B. Eldridge | Middlesex and Worcester | 2/10/2023 |
Tricia Farley-Bouvier | 2nd Berkshire | 2/14/2023 |
Rodney M. Elliott | 16th Middlesex | 2/26/2023 |
Natalie M. Higgins | 4th Worcester | 3/14/2023 |
Rita A. Mendes | 11th Plymouth | 4/11/2023 |
Manny Cruz | 7th Essex | 4/16/2023 |
HOUSE DOCKET, NO. 418 FILED ON: 1/12/2023
HOUSE . . . . . . . . . . . . . . . No. 2743
By Representative Connolly of Cambridge, a petition (accompanied by bill, House, No. 2743) of Mike Connolly and others relative to establishing a tiered corporate minimum tax. Revenue. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 2853 OF 2021-2022.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Third General Court
(2023-2024)
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An Act establishing a tiered corporate minimum tax.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Section 39 of chapter 63 of the General Laws, as so appearing, is amended by 55 striking out subsection (b) and inserting in place thereof the following subsection:--
(b) A minimum tax as follows:
(1) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are less than $1,000,000, the minimum tax shall be $456.
(2) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $1,000,000 and less than $5,000,000, the minimum tax shall be $1,500.
(3) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $5,000,000 and less than $10,000,000, the minimum tax shall be $2,500.
(4) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $10,000,000 and less than $25,000,000, the minimum tax shall be $3,500.
(5) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $25,000,000 and less than $50,000,000, the minimum tax shall be $5,000.
(6) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $50,000,000 and less than $100,000,000, the minimum tax shall be $10,000.
(7) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $100,000,000 and less than $500,000,000, the minimum tax shall be $25,000.
(8) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $500,000,000 and less than $1,000,000,000, the minimum tax shall be $75,000.
(9) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $1,000,000,000 the minimum tax shall be $150,000.