Amendment #949 to H4000

Providing an exemption to the corporate minimum tax for small businesses under 25 employees

Representatives Durant of Spencer, Kuros of Uxbridge, Cole of Peabody, Lombardo of Billerica, Frost of Auburn, Dooley of Norfolk, Fattman of Sutton and Cutler of Duxbury move that the bill be amended by adding the following section:

"SECTION XX,

Section 39 of chapter 63 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting at the end thereof the following paragraph: “A business corporation shall not be subject to the excise under subsection (b) provided said corporation is within its first three years of incorporation, or if it has paid an amount calculated under the provisions of subsection (a) for all of the previous three years; provided, that under no circumstances shall a business corporation which employs more than 25 full-time or full-time equivalent employees be eligible for the provisions of this section.""