Amendment #44, as changed to H4165

Quarterly Tax Payments Adjusted Phases

Representatives Jones of North Reading, Peterson of Grafton, Hill of Ipswich, Poirier of North Attleborough and deMacedo of Plymouth moves to amend the bill by inserting at the end thereof the following new sections:—

“SECTION AA.  Subsection (c) of section 3 of chapter 63B of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by striking the first paragraph and inserting in place thereof the following:—

(c) For purposes of this chapter, there shall be four required installments for each taxable year, except as otherwise provided by this chapter. The first installment shall be paid on or before the fifteenth day of the third month of the taxable year and shall be equal to thirty-five percent of the required annual payment; the second installment shall be paid on or before the fifteenth day of the sixth month of the taxable year and shall be equal to twenty-five percent of the required annual payment; the third installment shall be paid on or before the fifteenth day of the ninth month of the taxable year and shall be equal to twenty-five percent of the required annual payment; and the fourth installment shall be paid on or before the fifteenth day of the twelfth month of the taxable year and shall be equal to the remaining fifteen percent of the required annual payment. Except as otherwise provided in this subsection, the term “required annual payment” shall mean the lesser of:

SECTION BB. Subsection (c) of section 3 of chapter 63B of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by striking the first paragraph and inserting in place thereof the following:—

(c) For purposes of this chapter, there shall be four required installments for each taxable year, except as otherwise provided by this chapter. The first installment shall be paid on or before the fifteenth day of the third month of the taxable year and shall be equal to thirty percent of the required annual payment; the second installment shall be paid on or before the fifteenth day of the sixth month of the taxable year and shall be equal to twenty-five percent of the required annual payment; the third installment shall be paid on or before the fifteenth day of the ninth month of the taxable year and shall be equal to twenty-five percent of the required annual payment; and the fourth installment shall be paid on or before the fifteenth day of the twelfth month of the taxable year and shall be equal to the remaining twenty percent of the required annual payment. Except as otherwise provided in this subsection, the term “required annual payment” shall mean the lesser of:

SECTION CC. Subsection (c) of section 3 of chapter 63B of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by striking the first paragraph and inserting in place thereof the following:—

(c) For purposes of this chapter, there shall be four required installments for each taxable year, except as otherwise provided by this chapter. The first installment shall be paid on or before the fifteenth day of the third month of the taxable year and shall be equal to twenty-five percent of the required annual payment; the second installment shall be paid on or before the fifteenth day of the sixth month of the taxable year and shall be equal to twenty-five percent of the required annual payment; the third installment shall be paid on or before the fifteenth day of the ninth month of the taxable year and shall be equal to twenty-five percent of the required annual payment; and the fourth installment shall be paid on or before the fifteenth day of the twelfth month of the taxable year and shall be equal to the remaining twenty-five percent of the required annual payment. Except as otherwise provided in this subsection, the term “required annual payment” shall mean the lesser of:

; and further by adding at the end thereof the following sections:-

SECTION DD. Section AA shall be effective for the taxable year beginning January 1, 2017 and ending December 31, 2017.

SECTION EE. Section BB shall be effective for the taxable year beginning January 1, 2018 and ending December 31, 2018.

SECTION FF. Section CC shall be effective beginning January 1, 2019 and thereafter.”.

Additional co-sponsor(s) added to Amendment #44, as changed to H4165

Quarterly Tax Payments Adjusted Phases