{"Title":"An Act establishing a tiered corporate minimum tax","BillNumber":"H3057","DocketNumber":"HD1204","GeneralCourtNumber":194,"PrimarySponsor":{"Id":"M_C1","Name":"Mike Connolly","Type":1,"Details":"https://malegislature.gov/api/GeneralCourts/194/LegislativeMembers/M_C1","ResponseDate":"2025-01-14T15:05:31.067"},"Cosponsors":[{"Id":"M_C1","Name":"Mike Connolly","Type":1,"Details":"https://malegislature.gov/api/GeneralCourts/194/LegislativeMembers/M_C1","ResponseDate":"2025-01-14T15:05:31.0666667"},{"Id":"M_C3","Name":"Manny Cruz","Type":1,"Details":"https://malegislature.gov/api/GeneralCourts/194/LegislativeMembers/M_C3","ResponseDate":"2025-02-04T11:42:53.63"}],"JointSponsor":null,"BillHistory":"https://malegislature.gov/api/GeneralCourts/194/Documents/H3057/DocumentHistoryActions","LegislationTypeName":"Bill","Pinslip":"By Representative Connolly of Cambridge, a petition (accompanied by bill, House, No. 3057) of Mike Connolly and Manny Cruz relative to establishing a tiered corporate minimum tax.  Revenue.","DocumentText":"\tSection 39 of chapter 63 of the General Laws, as so appearing, is amended by striking out subsection (b) and inserting in place thereof the following subsection:--\r\n\t(b) A minimum tax as follows:\r\n\t(1) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are less than $1,000,000, the minimum tax shall be $456.\r\n\t(2) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $1,000,000 and less than $5,000,000, the minimum tax shall be $1,500.\r\n\t(3) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $5,000,000 and less than $10,000,000, the minimum tax shall be $2,500.\r\n\t(4) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $10,000,000 and less than $25,000,000, the minimum tax shall be $3,500.\r\n\t(5) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $25,000,000 and less than $50,000,000, the minimum tax shall be $5,000.\r\n\t(6) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $50,000,000 and less than $100,000,000, the minimum tax shall be $10,000.\r\n\t(7) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $100,000,000 and less than $500,000,000, the minimum tax shall be $25,000.\r\n\t(8) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $500,000,000 and less than $1,000,000,000, the minimum tax shall be $75,000.\r\n\t(9) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $1,000,000,000 the minimum tax shall be $150,000.\r\n","EmergencyPreamble":null,"RollCalls":[],"Attachments":[],"CommitteeRecommendations":[{"Action":"Accompanied","FiscalAmounts":[],"Committee":{"CommitteeCode":"J26","GeneralCourtNumber":194,"Details":"https://malegislature.gov/api/GeneralCourts/194/Committees/J26"},"Votes":[]}],"Amendments":[]}