Loading chat...
MA H3145
Bill
Status
Introduced
2/27/2025
Primary Sponsor
Bradley Jones
Click for details
AI Summary
- Reduces the inventory tax rate from $2.60 to $0.50 per thousand dollars over four years, with annual decreases of $0.50-$0.60 beginning January 1, 2026
- January 1, 2026: rate drops to $2.00; January 1, 2027: drops to $1.50; January 1, 2028: drops to $1.00; January 1, 2029: drops to $0.50
- Codifies the existing corporate net income tax rate structure in Chapter 63, Section 39, including the current 8.0% rate for tax years beginning on or after January 1, 2022
- Sponsored by Representative Bradley H. Jones, Jr. (20th Middlesex) with six co-sponsors, primarily from Worcester and Middlesex districts
- Similar legislation was previously filed as House No. 2844 in the 2023-2024 legislative session
Legislative Description
Relative to the gradual elimination of the inventory tax
Last Action
Accompanied a study order, see H5238
3/16/2026
Committee Referrals
Revenue2/27/2025
Full Bill Text
No bill text available