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Filing Season Reminder: Department Guidance Regarding Massachusetts Partnership and C Corporation Tax Return Filing Due Dates

Effective for tax years beginning after December 31, 2015, the due date for filing federal tax returns for C corporations and partnerships were revised.  See Public Law 114-41, the “Surface Transportation and Veterans Healthcare Choice Improvement Act of 2015”.  As shown in the table below, C Corporations now have an additional month—until April 15—to file … Continue Reading

Governor Baker Releases Proposed FY 2018 Budget Including Extending Sales Tax Collection to Online Retailers and Expanding Room Occupancy Tax to Short-Term Rentals

On January 25, 2017, Governor Charlie Baker released his proposals for the Commonwealth’s fiscal year 2018 budget. Among the proposed tax/revenue changes in the proposal are the following: Extending sales tax collection responsibilities to online retailers who do not have a physical location in Massachusetts but who have sales in Massachusetts that exceed $500,000 annually. … Continue Reading

Massachusetts Enacts Corporate Tax Amnesty to Occur Before June 30, 2015

On Friday, Governor Charlie Baker signed legislation, which is intended to close the budget deficit for the 2015 fiscal year. The full text of the legislation (House Bill 52) is available at the following link. In addition to some spending cuts aimed to cure the budget shortfall, the bill authorizes a corporate tax amnesty program, … Continue Reading

A Quick Overview of Substantive Changes in Final Massachusetts Market Sourcing Regulation 830 CMR 63.38.1—From 10/30/14 Draft to Final

As we reported on Friday, the Massachusetts Department of Revenue has promulgated its final regulations governing the apportionment of income (830 CMR 63.38.1).  The regulations implement legislation that mandates market-based sourcing and a throwout rule for sales other than sales of tangible personal property, effective for tax years beginning on or after January 1, 2014. … Continue Reading

Massachusetts Promulgates Final Market Sourcing Regulation

This afternoon, the Massachusetts Department of Revenue promulgated its Final Regulation 830 CMR 63.38.1: Apportionment of Income, to implement the market-based sourcing rules which took effect for tax years beginning after January 1, 2014.  The final regulation can be found here: Final Market Sourcing Regulations. The Final Regulation follows a Working Draft of the same regulation which was released by … Continue Reading

Public Hearing on Proposed Regulations Set for December 4

The Massachusetts Department of Revenue will hold its public hearing to discuss the proposed market sourcing regulation on December 4, 2014.  In addition, the proposed special industry apportionment regulations for Airline Corporations, Motor Carriers, and Courier and Package Delivery Services; and the proposed corporate nexus regulation are also scheduled to be heard as part of the … Continue Reading

Massachusetts Releases Second Draft of Market Sourcing Regulations

This afternoon, the Massachusetts Department of Revenue released its Proposed Regulation 830 CMR 63.38.1: Apportionment of Income, to implement the market-based sourcing rules which took effect for tax years beginning after January 1, 2014.  Here is the proposed market sourcing regulation. The Proposed Regulation follows a Working Draft of the same regulation which was released by the … Continue Reading

Massachusetts House Budget Would Include Tax Amnesty Program For 2015 Fiscal Year

Monday, the Massachusetts House adopted several tax related amendments to their version of the fiscal year 2015 (July 1, 2014- June 30, 2015) budget.  If the House’s budget is adopted, one recently-adopted amendment, would create a two-month tax amnesty program for delinquent sales and use tax, pass-through entity withholding, meals tax, and other taxes.  The … Continue Reading
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