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.
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