Budget Amendment ID: FY2016-S3-19

OTH 19

Corporate Minimum Tax

Messrs. Tarr, Ross and deMacedo, Ms. Gobi and Mr. Moore moved that the proposed new text be amended by inserting, after section__, the following new section:-

“SECTION__. Section 39 of chapter 63 of the General Laws, as appearing in the 2014 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.”