Chapter 63

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Chapter 63: TAXATION OF CORPORATIONS

• Section 1 Definitions
• Section 2 Financial institutions; excise rate
• Section 2A Financial institutions; determination of net income
• Section 2B S corporations; excise rate; determining factors of amount
• Section 3, 4 Repealed, 1976, 415, Sec. 102
• Section 5, 6 Repealed, 1934, 323, Sec. 1
• Section 7 Effect of assessment on other levies
• Section 8 to 10B Repealed, 1925, 343, Sec. 1
• Section 11 Repealed, 1984, 485, Sec. 3
• Section 12 Repealed, 1966, 14, Sec. 12
• Section 13 Repealed, 1976, 415, Sec. 102
• Section 14 Repealed, 1931, 426, Sec. 6
• Section 15 Repealed, 1984, 485, Sec. 4
• Section 16 Repealed, 1984, 485, Sec. 5
• Section 17 Repealed, 1984, 485, Sec. 6
• Section 18 Repealed, 1990, 499, Sec. 11
• Section 18A Repealed, 1976, 415, Sec. 102
• Section 19 Repealed, 1966, 14, Sec. 15
• Section 20 Premiums subject to taxation; rate
• Section 21 Additional tax on foreign companies
• Section 22 Domestic companies other than life; premiums subject to taxation; rate
• Section 22A Domestic companies; annual total gross investment income earned tax
• Section 22B Investment privilege excise; net investment income
• Section 22C Credit against investment privilege excise
• Section 22D Gains, determination for investment privilege excise purposes; definitions
• Section 23 Foreign companies; premiums subject to taxation; rate
• Section 24 Deductions
• Section 24A Retaliatory taxes; applicability and reciprocal exemption; definition
• Section 25 Repealed, 1976, 415, Sec. 102
• Section 26 Examination of records
• Section 27 Repealed, 1976, 415, Sec. 102
• Section 28 Payment; time; basis for liability
• Section 29 Liability for taxes
• Section 29A Fire and marine companies; tax on underwriting profit; computation
• Section 29B Taxation of reciprocal or inter-insurance exchange agents
• Section 29C Life insurance companies; credits against taxes imposed by Secs. 20 and 22
• Section 29D Property and casualty insurance companies; taxes on premiums; credits against taxes imposed by Secs. 22 and 23
• Section 29E Definitions; property and casualty insurance companies; retaliatory taxes; credits against taxes imposed by Sec. 22
• Section 30 Definitions; value of tangible property; net worth
• Section 30A Repealed, 1966, 698, Sec. 52
• Section 31 Repealed, 1962, 756, Sec. 4
• Section 31A Investment credit for certain corporations; limitations
• Section 31B Repealed, 2008, 173, Sec. 44
• Section 31C Credit for certain corporations; increase in number of full-time employees
• Section 31D Definitions applicable to Secs. 31D to 31F
• Section 31E Credit for company shuttle van purchase or lease expenses
• Section 31F Vanpool vehicle registration; fee
• Section 31G Expired. See 1988, 236, Sec. 43
• Section 31H Definitions; state low-income housing tax credit; eligibility; allocation; recapture
• Section 31I Transactions with related members; adding back of certain deductions
• Section 31J Deductible interest; interest paid to related member; taxpayer's burden to show disallowance of deduction unreasonable
• Section 31K Deductible interest; adjustments; applicability
• Section 31L Repealed, 2021, 68, Sec. 4
• Section 31M Life sciences tax credit
• Section 31N Determination of gross income; adjustment to federal gross income
• Section 32 Repealed, 2008, 173, Sec. 47
• Section 32A Repealed, 1960, 548, Sec. 5
• Section 32B Combined reporting; corporations subject to combination; apportionment of income; joint and several liability; regulations; affiliated group election
• Section 32C Maximum amount of credits; carryover
• Section 32D S corporations; net income measure
• Section 32E Application and refund of credits earned under Sec. 38X; substantiation of claims; regulations
• Section 33 Repealed, 2008, 173, Sec. 55
• Section 34 Repealed, 1960, 548, Sec. 6
• Section 34A Repealed, 1924, 26, Sec. 1
• Section 35, 36 Repealed, 1976, 415, Sec. 102
• Section 37 Repealed, 1966, 698, Sec. 57
• Section 38 Determination of net income derived from business carried on within commonwealth
• Section 38A Taxable net income
• Section 38B Financial institutions and business corporations engaged exclusively in buying, selling, dealing in or holding securities; excise rate
• Section 38C Repealed, 2008, 173, Sec. 66
• Section 38D Deduction of expenditures for industrial waste treatment or air pollution control facilities
• Section 38E Eligible business facility; excise credit
• Section 38F Deduction from net income for compensation paid to individuals employed by eligible business facility domiciled in present or former eligible section of substantial poverty
• Section 38G Reporting wholly-owned DISC income
• Section 38H Alternative energy sources; deduction
• Section 38I Wages deemed compensation paid in commonwealth; deduction; election
• Section 38J Qualified research contribution deduction
• Section 38K Repealed, 1985, 188, Sec. 10A
• Section 38L Natural Heritage and Endangered Species Fund; contributions
• Section 38M Credit against amount of excise due; research expenses
• Section 38N Economic development incentive program; tax credit for certified projects
• Section 38O Economic target areas; tax deduction for renovation of abandoned buildings
• Section 38P Repealed, 2021, 68, Sec. 5
• Section 38Q Environmental response actions; credit
• Section 38R Massachusetts historic rehabilitation tax credit
• Section 38S Automatic sprinkler system; depreciation deduction
• Section 38T Repealed, 2008, 173, Secs. 82 and 83
• Section 38U Credit for cost of qualifying property; life sciences
• Section 38V Deductions for qualifying clinical testing expenses; certified life sciences company
• Section 38W Credit for qualified research expenses; life sciences
• Section 38X Credit against taxes imposed on persons filming motion picture for employment of persons within commonwealth in connection with filming or production
• Section 38Y Unrelated business taxable income for certain exempt corporations
• Section 38Z Dairy farm tax credit program
• Section 38AA Credit against taxes imposed for qualified donation of certified land to public or private conservation agency
• Section 38BB Credit against taxes imposed for a certified housing development project
• Section 38CC Life Sciences refundable jobs credit
• Section 38DD Credit against excise tax imposed under Secs. 2(b), 2B(b) or 39(b)
• Section 38EE Community investment tax credit
• Section 38FF Repealed, 2012, 224, Sec. 56A
• Section 38GG Hiring of qualified veterans; excise tax credit
• Section 38HH Credit for wages paid to qualified apprentice
• Section 38II Cranberry production
• Section 38JJ Tax credits for qualified employees with disabilities
• Section 38KK Tax credits for qualified employers hiring members of the national guard
• Section 38LL Offshore wind tax incentive program; refundable jobs credit
• Section 38MM Refundable credit for capital investment in an offshore wind facility; amount; eligibility; limitations; administration
• Section 38NN Nonrefundable credits for trainings; eligibility; credit amount
• Section 38OO Credit against the tax liability; transfer of credit; carry forward of credit; disallowance of credit by commissioner; adoption of regulations
• Section 38PP Massachusetts homeownership tax credit; amount allowed; eligibility certificate; affordability period; transfer, sale or assignment of tax credit; fees; adoption and promulgation of rules and regulations
• Section 38QQ Credit for taxpayers with an eligible theater production certificate; use; assignment, transfer or conveyance
• Section 38RR Refundable credit under climatetech tax incentive program; eligibility; use and refunds
• Section 38SS Amount of credit for research and development costs under climatetech tax incentive program
• Section 38TT Refundable jobs credit under climatetech tax incentive program
• Section 38UU Credit for wages paid to net-new qualified interns
• Section 39 Tax rate
• Section 39A Tax on business subsidiary corporation
• Section 39B Repealed, 1924, 26, Sec. 1
• Section 39C Repealed, 1960, 548, Sec. 8
• Section 40 Repealed, 1976, 415, Sec. 102
• Section 41 Repealed, 1966, 698, Sec. 63
• Section 42 Alternative method of determining net income
• Section 42A Taxable net income
• Section 42B Manufacturing and research and development corporations
• Section 42C Repealed, 1966, 698, Sec. 66
• Section 43 Repealed, 1945, 735, Sec. 3
• Section 44 to 46 Repealed, 1976, 415, Sec. 102
• Section 47 Repealed, 1953, 654, Sec. 60
• Section 48 to 51 Repealed, 1976, 415, Sec. 102
• Section 52 Unconstitutionality of excise tax law; effect; revival of former act
• Section 52A Repealed, 2013, 46, Sec. 39
• Section 53 Repealed, 1976, 415, Sec. 102
• Section 54 Repealed, 1951, 641, Sec. 2
• Section 55 Valuation
• Section 56 Repealed, 1925, 343, Sec. 4
• Section 56A Repealed, 1966, 698, Sec. 69
• Section 57 Repealed, 1928, 13, Sec. 2
• Section 58 Tax rate
• Section 58A Repealed, 1925, 343, Sec. 6
• Section 59 Assessment of additional taxes
• Section 60 Repealed, 1976, 415, Sec. 102
• Section 61 to 66 Repealed, 1928, 138
• Section 67 Assessment; rate; return; deductions
• Section 68 Effect on other taxes
• Section 68A Conflict between local and state valuations; remedy
• Section 68B Repealed, 1976, 415, Sec. 102
• Section 68C Exemption from excise under Sec. 39 for certain business corporations
• Section 69 Inspection of records; examination of officers
• Section 70 to 76A Repealed, 1976, 415, Sec. 102
• Section 77, 78 Repealed, 1930, 416, Sec. 2
• Section 79 Penalty for failure to make return for corporate franchise tax
• Section 80 Collection of penalties
• Section 81 Local taxation, defined