SENATE DOCKET, NO. 677        FILED ON: 1/17/2023

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1835

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Adam Gomez

_________________

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:

 

Adam Gomez

Hampden

 

Erika Uyterhoeven

27th Middlesex

1/27/2023

Jason M. Lewis

Fifth Middlesex

1/31/2023

Sal N. DiDomenico

Middlesex and Suffolk

1/31/2023

Michael D. Brady

Second Plymouth and Norfolk

1/31/2023

Rebecca L. Rausch

Norfolk, Worcester and Middlesex

2/9/2023

Jacob R. Oliveira

Hampden, Hampshire and Worcester

2/9/2023

Michael O. Moore

Second Worcester

2/9/2023

Mike Connolly

26th Middlesex

2/9/2023

Julian Cyr

Cape and Islands

2/9/2023

Liz Miranda

Second Suffolk

2/9/2023

James B. Eldridge

Middlesex and Worcester

2/10/2023

Michael J. Barrett

Third Middlesex

2/23/2023

Patricia D. Jehlen

Second Middlesex

2/27/2023

Rita A. Mendes

11th Plymouth

4/13/2023

Vanna Howard

17th Middlesex

12/11/2023

Manny Cruz

7th Essex

12/11/2023


SENATE DOCKET, NO. 677        FILED ON: 1/17/2023

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1835

By Mr. Gomez, a petition (accompanied by bill, Senate, No. 1835) of Adam Gomez, Erika Uyterhoeven, Jason M. Lewis, Sal N. DiDomenico and other members of the General Court for legislation to establish a tiered corporate minimum tax.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Third General Court
(2023-2024)

_______________

 

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 1. Section 39 of chapter 63 of the General Laws, as appearing in the 2020 Official Edition, is amended by 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.

SECTION 2. This Act shall apply to tax years beginning on or after January 1, 2023.