The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Lori 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 bill:
An Act Relative to Small Business Tax Relief.
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PETITION OF:
Name: |
District/Address: |
Lori Ehrlich |
8th Essex |
Cleon H. Turner |
1st Barnstable |
Theodore C. Speliotis |
13th Essex |
Bruce E. Tarr |
First Essex and Middlesex |
James B. Eldridge |
Middlesex and Worcester |
Jennifer M. Callahan |
18th Worcester |
Paul McMurtry |
11th Norfolk |
Ann-Margaret Ferrante |
5th Essex |
Susan C. Fargo |
Third Middlesex |
Carolyn Dykema |
8th Middlesex |
Thomas P. Conroy |
13th Middlesex |
Martin J. Walsh |
13th Suffolk |
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
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 2 of chapter 63 of the General Laws, as appearing in the 2006 Official Edition is hereby amended by striking out subsection (b) and inserting in place thereof the following subsection:-
(b) Any corporation taxable under this section shall pay an excise measured by its net income determined to be taxable under section 2A at the following rates:-- (i) for each taxable year beginning on or after January 1, 1995, but before January 1, 2010, 10.5 per cent; (ii) for each taxable year beginning on or after January 1, 2010, but before January 1, 2011, 10.0 per cent; (iii) for each taxable year beginning on or after January 1, 2011, but before January 1, 2012, 9.5 per cent; or (iv) for each taxable year beginning on or after January 1, 2012 and thereafter, 9.0 per cent; provided, however, that in no case shall the excise imposed under this section amount to less than $456; provided however, that a C corporation that had total annual revenue in its most recently completed fiscal year of 1 million dollars or less shall not be subjected to the minimum excise of $456.