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HOUSE DOCKET, NO. 1430         FILED ON: 1/16/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2558

 

The Commonwealth of Massachusetts

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PRESENTED BY:

Ryan C. Fattman

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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 to stimulate small business investment.

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PETITION OF:

 

Name:

District/Address:

Ryan C. Fattman

18th Worcester

Todd M. Smola

1st Hampden

Nicholas A. Boldyga

3rd Hampden

Marc T. Lombardo

22nd Middlesex

Paul K. Frost

7th Worcester

Kevin J. Kuros

8th Worcester


HOUSE DOCKET, NO. 1430        FILED ON: 1/16/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 2558

By Mr. Fattman of Sutton, a petition (accompanied by bill, House, No. 2558) of Ryan C. Fattman and others that business corporations be allowed a credit against tax liability for the first $500,000 of revenue .  Revenue. 


The Commonwealth of Massachusetts
 

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In the Year Two Thousand Thirteen

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An Act to stimulate small business investment.
 

              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. Chapter 63 of the General Laws, as most recently amended by chapter 224 of the Acts of 2012, is hereby amended by inserting after section 38FF the following new section:-

              Section 38GG. (a) A business corporation shall be allowed a credit against its tax liability imposed under this chapter equal to not more than the first $500,000 of revenue earned by said corporation during the taxable year for which the tax is due.

              (b) The credit allowed by this section shall not reduce the excise to an amount less than the amount due under subsection (b) of section 39.

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