HOUSE DOCKET, NO. 2696 FILED ON: 1/21/2011
HOUSE . . . . . . . . . . . . . . . No. 2505
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Lori A. Ehrlich
_______________
To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying:
An Act relative to small business tax relief.
_______________
PETITION OF:
Name: | District/Address: |
Lori A. Ehrlich | 8th Essex |
Sean Garballey | 23rd Middlesex |
Michael D. Brady | 9th Plymouth |
James J. Dwyer | 30th Middlesex |
Carolyn C. Dykema | 8th Middlesex |
John V. Fernandes | 10th Worcester |
Ann-Margaret Ferrante | 5th Essex |
Randy Hunt | 5th Barnstable |
Nick Collins | 4th Suffolk |
HOUSE DOCKET, NO. 2696 FILED ON: 1/21/2011
HOUSE . . . . . . . . . . . . . . . No. 2505
By Ms. Ehrlich of Marblehead, a petition (accompanied by bill, House, No. 2505) of Lori A. Ehrlich and others relative to small business tax relief. Revenue. |
The Commonwealth of Massachusetts
An Act relative to small business tax relief.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 2B of chapter 63 of the General Laws, as appearing in the 2008 Official Edition is hereby amended by striking out subsection (b) and inserting in place thereof the following subsection:
(b) The excise imposed under this section for each taxable year shall be not less than $456; provided however, that an S corporation with total receipts for the most recent taxable year no greater than 1 million dollars and having no greater than 50 employees for the full taxable year shall not be subjected to the minimum excise of $456.
SECTION 2. The first paragraph of said section 39 of said chapter 63, as so appearing, is hereby amended by adding the following words:-
; and provided further , except that a business corporation having total receipts in its most recently completed tax year no greater than 1 million dollars and having no greater than 50 employees for the full tax year shall pay, on account of each taxable year, only the excise provided in subsection (a).
