H 3155
An Act allowing for the deduction of business interest
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Bill overview
This bill, H.3155, proposes to allow Massachusetts taxpayers to deduct business interest expenses on their state income tax returns. Currently, the deduction for business interest is limited, and this legislation seeks to expand it. The bill was referred to the Joint Committee on Revenue and is awaiting a hearing. It is similar to other proposed legislation aiming to modify business interest deductions for tax purposes.
Key provisions
- Allows for the deduction of business interest expenses.
- Applies to Massachusetts state income tax.
- Expands the existing business interest deduction.
- Currently under consideration by the Joint Committee on Revenue.
Who is affected
- Massachusetts taxpayers
- Businesses operating in Massachusetts
- Small business owners
Notable changes
- Potentially expands the current limitations on business interest deductions.
- Similar to other proposed legislation regarding tax deductions.
Sponsors
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Primary sponsor
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Bill H.3155 194th (Current)
An Act allowing for the deduction of business interest
By Representative Kane of Shrewsbury, a petition (accompanied by bill, House, No. 3155) of Hannah Kane relative to the income tax deduction of business interest. Revenue.
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Bill Information
Bill Information
Presenter: Hannah Kane Status: Referred to Joint Committee on Revenue
Tabs
Bill History Petitioners Committee Summary Hearing Attendance
Bill History
Displaying 7 actions for Bill H.3155
| Date | Branch | Action |
| 2/27/2025 | House | Referred to the committee on Revenue |
| 2/27/2025 | Senate | Senate concurred |
| 9/24/2025 | Joint | Hearing scheduled for 10/03/2025 from 10:00 AM-05:00 PM in Gardner Auditorium |
| 10/3/2025 | Joint | Hearing rescheduled to 10/03/2025 from 10:00 AM-12:35 PM in Gardner Auditorium Hearing updated to New End Time |
| 12/18/2025 | House | Reporting date extended to Friday, February 20, 2026 |
| 2/25/2026 | House | Reporting date extended to Wednesday, March 18, 2026 |
| 3/19/2026 | House | Reporting date extended to Friday, June 26, 2026 |
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