MA H3052

Public benefit corporations under Chapter 156E would receive a 1.5 percentage point reduction from the standard Massachusetts corporate tax rate if they meet specified employee benefit requirements

Qualifying corporations must offer at least 4 of 6 employee benefits: living wage (as defined by MIT Living Wage Calculator), 12 weeks paid parental leave, flexible spending accounts, CEO-to-lowest-paid-employee ratio no greater than 25:1, employee cooperative governance, or profit sharing of at least 10% to employees

Benefits must be offered for at least 12 consecutive months prior to and during the taxable year in which the tax rate reduction is claimed

Department of Revenue must certify eligible corporations and promulgate regulations for the certification process

State Secretary, in consultation with the Commissioner, must establish an application process for determining eligibility for the preferential tax rate