An Act combating offshore tax avoidance
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill, H.3110, aims to address offshore tax avoidance by requiring Massachusetts companies to report information about their international tax arrangements. The goal is to increase transparency and ensure that businesses are paying their fair share of taxes. The bill is currently under consideration by the Joint Committee on Revenue, with a scheduled hearing planned for October 2025.
Key provisions
- Requires Massachusetts companies to report details of their offshore tax arrangements.
- Aims to increase transparency regarding international tax practices.
- Seeks to prevent companies from using offshore locations to minimize their tax liabilities.
- The bill is being reviewed by the Joint Committee on Revenue.
- A hearing is scheduled to gather feedback on the proposed legislation.
Who is affected
- Massachusetts businesses
- Corporations operating internationally
- Taxpayers
Notable changes
- This bill introduces new reporting requirements for companies with offshore operations.
Bill text
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Sponsors
Official sponsors from legislative records.
94 on record
Primary sponsor
Cosponsors
Adrianne Pusateri Ramos
Amy Mah Sangiolo
Arguments
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