Amendment #200 to H3400

Quarterly Corporate Tax Payments

Representatives Jones of North Reading, Hill of Ipswich, Poirier of North Attleborough, Gifford of Wareham, Frost of Auburn and Smola of Warren move to amend the bill by adding the following 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 out the first and second sentences and inserting in place thereof the following 3 sentences:-

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 35 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 25 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 25 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 15 percent of the required annual payment.

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 out the first and second sentences and inserting in place thereof the following 3 sentences:-

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 30 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 25 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 25 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 20 percent of the required annual payment.

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 out the first and second sentences and inserting in place thereof the following 3 sentences:-

For purposes of this chapter, there shall be 4 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; the second installment shall be paid on or before the fifteenth day of the sixth month of the taxable year; the third installment shall be paid on or before the fifteenth day of the ninth month of the taxable year; and the fourth installment shall be paid on or before the fifteenth day of twelfth month of the taxable year. The amount of any installment shall be 25 percent of the required annual payment.

SECTION DD. Section 4A of said chapter 63B, as so appearing, is hereby amended by striking out, in line 4, the word "sixty-five percent" and inserting in place thereof the following words:- 60 percent.

SECTION EE. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 9, the word "ten percent" and inserting in place thereof the following words:- 15 percent.

SECTION FF. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 14, the word "ninety percent" and inserting in place thereof the following words:- 85 percent.

SECTION GG. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in lines 16 and 17, the word "ten percent" and inserting in place thereof the following words:- 15 percent.

SECTION HH. Section 4A of said chapter 63B, as so appearing, is hereby amended by striking out, in line 4, the word "60 percent" and inserting in place thereof the following words:- 55 percent.

SECTION II. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 9, the word "15 percent" and inserting in place thereof the following words:- 20 percent.

SECTION JJ. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 14, the word "85 percent" and inserting in place thereof the following words:- 80 percent.

SECTION KK. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in lines 16 and 17, the word "15 percent" and inserting in place thereof the following words:- 20 percent.

SECTION LL. Section 4A of said chapter 63B, as so appearing, is hereby amended by striking out, in line 4, the word "55 percent" and inserting in place thereof the following words:- 50 percent.

SECTION MM. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 9, the word "20 percent" and inserting in place thereof the following words:- 25 percent.

SECTION NN. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 14, the word "80 percent" and inserting in place thereof the following words:- 75 percent.

SECTION OO. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in lines 16 and 17, the word "20 percent " and inserting in place thereof the following words:- 25 percent.

SECTION PP. Section 4B of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 17, the word "thirty percent" and inserting in place thereof the following words:- 25 percent.

SECTION QQ. Said section 4B of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 10, the word "twenty-five percent" and inserting in place thereof the following words:- 25 percent.

SECTION RR. Said section 4B of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 13, the words "twenty-five" and inserting in place thereof the following words:- 25 percent.

SECTION SS. Said section 4B of said chapter 63B, as so appearing, is hereby further amended by striking out, in lines 15 and 16, the words "twenty percent " and inserting in place thereof the following words:- 25 percent.

SECTION TT. Section AA, sections DD through GG, inclusive, and sections PP through SS, inclusive, of this act shall be effective on January 1, 2016.

SECTION UU. Section BB, and sections HH though KK, inclusive, of this act shall be effective on January 1, 2017.

SECTION VV. Section CC and LL through OO, inclusive, of this act shall be effective on January 1, 2018.”.

Additional co-sponsor(s) added to Amendment #200 to H3400

Quarterly Corporate Tax Payments