Massachusetts General Laws
Chapter 63d - Taxation of Pass-Through Entities
Section 2 - Refundable Credit for Eligible Pass-Through Entity

[ Text of section added by 2021, 69, Sec. 1 effective September 30, 2021 for tax years beginning on or after January 1, 2021. See. 2021, 69, Sec. 2.]
  Section 2. An eligible pass-through entity may elect to pay an excise on its qualified income taxable in Massachusetts at a rate of 5 per cent. A qualified member of an electing eligible pass-through entity shall be allowed a refundable credit against the tax imposed under this chapter. The credit shall be available to qualified members in an amount proportionate to each qualified member's share of the tax due and paid under this chapter by the eligible pass-through entity multiplied by 0.9. The credit shall be available for the member's taxable year in which the electing eligible pass-through entity's taxable year ends.

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Structure Massachusetts General Laws

Massachusetts General Laws

Part I - Administration of the Government

Title IX - Taxation

Chapter 63d - Taxation of Pass-Through Entities

Section 1 - Definitions

Section 2 - Refundable Credit for Eligible Pass-Through Entity

Section 3 - Application of Chapter 63d

Section 4 - Timing of Payment of Excise Tax

Section 5 - Collection and Administration of Excise Tax

Section 6 - Elections

Section 7 - Regulation and Guidance