An Act relative to the small commercial tax exemption
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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 proposes to create a small commercial tax exemption for small businesses. Specifically, it would allow eligible small businesses to be exempt from paying state commercial activity tax (CAT) on their income. The exemption would be based on the business’s annual gross receipts, with a threshold to be determined. This aims to provide relief to smaller businesses operating in Massachusetts.
Key provisions
- Creates a small commercial tax exemption for eligible small businesses.
- Exemption is based on annual gross receipts.
- A specific revenue threshold for the exemption will be established.
- The exemption applies to state commercial activity tax (CAT).
- The bill is intended to provide tax relief for small businesses.
Who is affected
- Small businesses
- Business owners
- Taxpayers
Notable changes
- Introduces a new tax exemption for small businesses.
- Potentially reduces the tax burden on smaller commercial operations.
Bill text
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Sponsors
Official sponsors from legislative records.
7 on record
Primary sponsor
Bradley H. Jones Jr.
Cosponsors
Bradley H. Jones Jr.
Kimberly N. Ferguson
Arguments
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