SECTION 1: Section 8F of Chapter 12 of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by striking out, in line 8, the figure: $200,000, and inserting in place thereof the following figure: $500,000, and further by striking out, in line 15, the figure: $500,00, and inserting in place thereof the following figure: $750,000.
SECTION 2: Section 8F of Chapter 12, as so appearing, is hereby amended by inserting after paragraph 2, the following paragraph:
Should the federal government increase the revenue thresholds for financial statement reviews or for financial statement audits after the enactment of this statute, the Massachusetts revenue thresholds for such will conform to the federal thresholds in effect.
The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.