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MA S1950
Bill
AI Summary
- Allows business corporations to deduct capital gains from the sale of employer securities to an employee stock ownership plan (ESOP) when calculating taxable net income
- Applies only to non-publicly traded businesses with fewer than 500 employees
- Requires the ESOP to own at least 49% of all outstanding employer securities issued by the business
- The business corporation claiming the deduction must be the sponsor of the ESOP
- Amends Chapter 63 of the General Laws by adding new Section 38OO
Legislative Description
To promote employee ownership
Last Action
Hearing scheduled for 10/28/2025 from 01:00 PM-05:00 PM in B-2
10/21/2025
Committee Referrals
Revenue2/27/2025
Full Bill Text
No bill text available