Budget Amendment ID: FY2027-S4-846

OTH 846

Corporate Tax Rate Restoration

Ms. Rausch moved that the proposed new text be amended by inserting following section:- 

“SECTION X.  Section 39 of chapter 63 of the General Laws is hereby amended by striking out subsection (a)(2) and inserting in place thereof the following words:- (i) For tax years beginning before January 1, 2027, 8.0 per cent of its net income determined to be taxable in accordance with this chapter; (ii) for tax years beginning on or after January 1, 2027, but before January 1, 2028, 8.75 per cent of its net income determined to be taxable in accordance with this chapter; and (iii) for tax years beginning on or after January 1, 2028, 9.5 per cent of its net income determined to be taxable in accordance with this chapter. ”