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| 2 | 2 | | HOUSE DOCKET, NO. 1326 FILED ON: 1/14/2025 |
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| 3 | 3 | | HOUSE . . . . . . . . . . . . . . . No. 3145 |
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| 4 | 4 | | The Commonwealth of Massachusetts |
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| 5 | 5 | | _________________ |
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| 6 | 6 | | PRESENTED BY: |
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| 7 | 7 | | Bradley H. Jones, Jr. |
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| 8 | 8 | | _________________ |
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| 9 | 9 | | To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General |
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| 10 | 10 | | Court assembled: |
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| 11 | 11 | | The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill: |
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| 12 | 12 | | An Act relative to the gradual elimination of the inventory tax. |
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| 13 | 13 | | _______________ |
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| 14 | 14 | | PETITION OF: |
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| 15 | 15 | | NAME:DISTRICT/ADDRESS :DATE ADDED:Bradley H. Jones, Jr.20th Middlesex1/14/2025Kimberly N. Ferguson1st Worcester1/14/2025Paul K. Frost7th Worcester1/31/2025Todd M. Smola1st Hampden3/10/2025David F. DeCoste5th Plymouth1/28/2025David K. Muradian, Jr.9th Worcester1/29/2025Hannah Kane11th Worcester1/30/2025 1 of 2 |
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| 16 | 16 | | HOUSE DOCKET, NO. 1326 FILED ON: 1/14/2025 |
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| 17 | 17 | | HOUSE . . . . . . . . . . . . . . . No. 3145 |
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| 18 | 18 | | By Representative Jones of North Reading, a petition (accompanied by bill, House, No. 3145) of |
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| 19 | 19 | | Bradley H. Jones, Jr. and others relative to the gradual elimination of the inventory tax. |
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| 20 | 20 | | Revenue. |
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| 21 | 21 | | [SIMILAR MATTER FILED IN PREVIOUS SESSION |
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| 22 | 22 | | SEE HOUSE, NO. 2844 OF 2023-2024.] |
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| 23 | 23 | | The Commonwealth of Massachusetts |
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| 24 | 24 | | _______________ |
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| 25 | 25 | | In the One Hundred and Ninety-Fourth General Court |
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| 26 | 26 | | (2025-2026) |
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| 27 | 27 | | _______________ |
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| 28 | 28 | | An Act relative to the gradual elimination of the inventory tax. |
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| 29 | 29 | | Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority |
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| 30 | 30 | | of the same, as follows: |
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| 31 | 31 | | 1 SECTION 1. Subsection (a) of section 39 of chapter 63 of the general laws, as appearing |
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| 32 | 32 | | 2in the 2022 Official Edition, is hereby amended, in line 37, by striking the figure “$2.60” and |
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| 33 | 33 | | 3inserting in place thereof the following figure:- $2.00. |
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| 34 | 34 | | 4 SECTION 2. Subsection (a) of section 39 of chapter 63 of the general laws, as so |
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| 35 | 35 | | 5appearing, is hereby amended, in line 37, by striking the figure “$2.00” and inserting in place |
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| 36 | 36 | | 6thereof the following figure:- $1.50. |
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| 37 | 37 | | 7 SECTION 3. Subsection (a) of section 39 of chapter 63 of the general laws, as so |
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| 38 | 38 | | 8appearing, is hereby amended, in line 37, by striking the figure “$1.50” and inserting in place |
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| 39 | 39 | | 9thereof the following figure:- $1.00. 2 of 2 |
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| 40 | 40 | | 10 SECTION 4. Subsection (a) of section 39 of chapter 63 of the general laws, as so |
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| 41 | 41 | | 11appearing, is hereby amended, in line 37, by striking the figure “$1.00” and inserting in place |
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| 42 | 42 | | 12thereof the following figure:- $.50. |
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| 43 | 43 | | 13 SECTION 5. Subsection (a) of section 39 of chapter 63 of the general laws, as so |
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| 44 | 44 | | 14appearing, is hereby amended by striking clause (1) and (2) and inserting in place thereof the |
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| 45 | 45 | | 15following:- |
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| 46 | 46 | | 16 “(1)(i) For tax years beginning before January 1, 2020, 9.5 per cent of its net income |
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| 47 | 47 | | 17determined to be taxable in accordance with this chapter; (ii) for tax years beginning on or after |
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| 48 | 48 | | 18January 1, 2010, but before January 1, 2021, 8.75 per cent of its net income determined to be |
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| 49 | 49 | | 19taxable in accordance with this chapter; (iii) for tax years beginning on or after January 1, 2021, |
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| 50 | 50 | | 20but before January 1, 2022, 8.25 per cent of its net income determined to be taxable in |
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| 51 | 51 | | 21accordance with this chapter; or (iv) for tax years beginning on or after January 1, 2022, 8.0 per |
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| 52 | 52 | | 22cent of its net income determined to be taxable in accordance with this chapter. |
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| 53 | 53 | | 23 SECTION 6. Section 1 of this act shall be effective on January 1, 2026. |
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| 54 | 54 | | 24 SECTION 7. Section 2 of this act shall be effective on January 1, 2027. |
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| 55 | 55 | | 25 SECTION 8. Section 3 of this act shall be effective on January 1, 2028. |
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| 56 | 56 | | 26 SECTION 9. Section 4 of this act shall be effective on January 1, 2029. |
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| 57 | 57 | | 27 SECTION 10. Section 5 of this act shall be effective on January 1, 2030. |
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