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MA H3248

Bill

Official Source

Status

Introduced

2/27/2025

Primary Sponsor

Michael Soter

Click for details

Origin

House of Representatives

194th General Court

AI Summary

  • New manufacturing corporations incorporating in Massachusetts would be exempt from state income tax for their first five years of operation

  • Eligibility requires at least 50% of the corporation's revenues from manufactured goods to come from consumer goods sales

  • Consumer goods are defined as tangible property intended to be purchased by individuals for personal use

  • Amends Chapter 63 of the General Laws by adding new Section 38OO

  • Filed January 17, 2025 by Representatives Michael J. Soter (8th Worcester) and Joseph D. McKenna (18th Worcester)

Legislative Description

Granting an income tax exemption for new manufacturing corporations

Last Action

Reporting date extended to Wednesday, March 18, 2026

2/25/2026

Committee Referrals

Revenue2/27/2025

Full Bill Text

No bill text available