HOUSE DOCKET, NO. 4099        FILED ON: 1/17/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3248

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Michael J. Soter

_________________

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 granting an income tax exemption for new manufacturing corporations.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Michael J. Soter

8th Worcester

1/17/2025

Joseph D. McKenna

18th Worcester

2/6/2025

Patrick M. O'Connor

First Plymouth and Norfolk

3/26/2025


HOUSE DOCKET, NO. 4099        FILED ON: 1/17/2025

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3248

By Representative Soter of Bellingham, a petition (accompanied by bill, House, No. 3248) of Michael J. Soter and Joseph D. McKenna relative to an income tax exemption for certain manufacturing corporations during the first five years of operation.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Fourth General Court
(2025-2026)

_______________

 

An Act granting an income tax exemption for new manufacturing corporations.

 

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 most recently amended by section 7 of chapter 88 of the acts of 2024, is hereby further amended by inserting, after section 38NN, the following new section:-

SECTION 38OO. Upon incorporating in the commonwealth, any manufacturing corporation, as defined by section 42B of this chapter, shall not be subject to taxation of income, as defined under this chapter, for income generated during its first five years of operation, provided that no less than 50 per cent of the corporation’s revenues from manufactured goods derive from the sale of consumer goods. For the purposes of this section, consumer goods shall mean tangible property intended to be purchased by individuals for personal use.